$389,900
Active · 153 days on market · MLS# MFRO6355283
| Bedrooms | 0 |
|---|---|
| Living area | 10,883 sq ft |
| Lot size | 0.64 acres |
| Year built | 1910 |
| Property type | Multi-Family 5+ |
| Private pool | Yes |
| Waterfront | Yes |
| Annual taxes | $3,357 |
| County | Lake |
Here is a chance to convert this nine-unit property into a cash-flowing, 10-unit multifamily residence. Located in Leesburg, a market with strong tenant demand and long-term growth, this property holds tremendous potential to address an undersupplied rental market and achieve significant returns. A complete renovation, estimated at $400,000, will be required to achieve its maximum potential. Repairs and upgrades will include reroofing, general system maintenance, cosmetic improvements, updated floor plans, and modern interiors. While this project will require significant work, it presents an opportunity for incredible returns, with an After-Repair Value (ARV) of $1,700,000. This property is a fantastic opportunity to provide value for tenants in a location where demand is strong. Don't miss out on this chance to create affordable and comfortable housing for 10 families. Contact your EquityPro Advisor today.
Listing courtesy of Navid Rokh, EQUITYPRO LLC. Presented by MC Homes Realty Inc · 727432218.