10,883 SqFt
10,883 SqFt
Key Details
Property Type Commercial
Sub Type Multi-Family 5+
Listing Status Active
Purchase Type For Sale
Square Footage 10,883 sqft
Price per Sqft $35
Subdivision Leesburg Archbell Sub
MLS Listing ID A4706558
Construction Status Fixer
HOA Y/N No
Year Built 1910
Annual Tax Amount $5,304
Lot Size 0.660 Acres
Acres 0.66
Lot Dimensions 140x199
Property Sub-Type Multi-Family 5+
Source Stellar MLS
Property Description
Located in a growing Central Florida market with continued demand for rental housing, this property offers significant upside for an experienced investor, developer, or nonprofit organization looking to create quality, affordable housing.
The property will require a substantial renovation to reach its full potential. Based on a recent estimate obtained from one of the seller's contractors, approximately $600,000 in repairs and improvements should be anticipated. Renovations may include roofing, building systems, general repairs and maintenance, interior and exterior improvements, updated floor plans, and modernization of the individual units.
Once renovated and stabilized, the property has an estimated After-Repair Value (ARV) of approximately $1.8 million, creating a compelling opportunity for an investor willing to complete the necessary improvements.
This property may also be particularly attractive to a nonprofit or affordable-housing organization seeking an opportunity to provide safe, comfortable, and reasonably priced housing for up to 10 families. With the right renovation plan and ownership structure, the property could serve both an important community need and a long-term investment objective.
For buyers looking for a project with substantial value-add potential, multiple units, and a clear repositioning strategy, this Leesburg property deserves serious consideration.
Location
State FL
County Lake
Community Leesburg Archbell Sub
Area 34748 - Leesburg
Zoning R-2
Interior
Heating None
Cooling None
Flooring Other
Exterior
Utilities Available Public
View Y/N No
Water Access No
Building
Story 2
Foundation Crawlspace
Lot Size Range 1/2 to less than 1
Structure Type Frame,Wood Siding
New Construction false
Construction Status Fixer
Others
Ownership Fee Simple
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition None
Schools and Properties Nearby