Homes for sale - 600 W OAK TERRACE DR, Leesburg, FL 34748

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Josh Cotton

josh@welcomehome904.com +1(904) 982-8461

$ 6,500,000

Est. payment | -/mo

39,524 SqFt

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$ 6,500,000

Est. payment | -/mo

Save Virtual Tour

39,524 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 39,524 sqft

Price per Sqft $164

Subdivision Leesburg N C Lee Estate

MLS Listing ID G5099082

HOA Y/N No

Year Built 1980

Annual Tax Amount $7,979

Lot Size 2.350 Acres

Acres 2.35

Property Sub-Type Multi Family

Source Stellar MLS

Property Description

This 48-unit apartment complex offers a turn-key solution for investors seeking a stable income stream with a single tenant that ensures
minimal management effort. The entire property is leased by an accredited private 4-year college founded in 1989. With students from across the
country and internationally, the college's continued growth and established reputation ensures a strong and reliable tenant, making this a truly
hands-off investment. Residents enjoy modern living spaces with updated vinyl flooring and recently updated kitchens and bathrooms in most
units. One of the standout features of this property is its stunning Outdoor Oasis courtyard. This inviting outdoor space includes brick walkways,
spacious patios, two huge gazebos, and a charming brick fireplace, perfect for gatherings or relaxation. Beautiful stone flower beds, new palm
trees, and fresh sod create a serene environment, all maintained by an efficient irrigation system. Other Amenities included an on-site laundry
facility and management office, electronic locks on all apartments, and plenty of parking. Other recent major updates include roof replacement
on all the building in 2020, robust gutter and drainage system, exterior lighting, security cameras and gates, and the majority of the HVAC
systems have been replaced within the last five years. The property location is a significant asset, benefiting from its proximity to historic
downtown Leesburg where residents can enjoy local restaurants, shops, and Ski Beach/Venetian Park on Lake Harris. It's also conveniently
situated approximately 56 miles from Orlando International Airport and within a two-hour drive of stunning beaches on both the Atlantic and Gulf
coasts. Leesburg, FL, has seen significant growth in recent years, with several large employers near this property increasing the demand for
affordable housing in the area. AN ADDITIONAL 2.68-ACRE ADJACENT PARCEL that offers the opportunity to possibly build up to an additional 48
units is also available. (MLS # G5099161) This is an opportunity not to be missed—call today for more information!

Location

State FL

County Lake

Community Leesburg N C Lee Estate

Area 34748 - Leesburg

Zoning R-2

Interior

Interior Features Ceiling Fans(s)

Heating Central

Cooling Central Air

Fireplace false

Laundry Common Area

Exterior

Exterior Feature Lighting, Rain Gutters

Utilities Available Public

Roof Type Shingle

Garage false

Private Pool No

Building

Foundation Slab

Lot Size Range 2 to less than 5

Sewer Public Sewer

Water Public

Structure Type Block

New Construction false

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/G5099082

Listed by CARLINO REAL ESTATE GROUP INC

"People Before Property"

Assisting buyers and sellers in achieving their goals is literally what I love to do!

+1(904) 982-8461

josh@welcomehome904.com

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600 W OAK TERRACE DR Leesburg, FL 34748