Looking for your next multi-family investment property with a huge upside? Now available is a 47 unit value-add opportunity located in a fast-growing community in Northwest Florida, between Tallahassee and Jacksonville.
This property features concrete block construction and a total of 27,000 square foot of living space. The opportunity includes three buildings. One building is vacant and has a new roof. The complex is currently one third occupied. In order to gain market rent, we recommend renovating the vacant units and then updating the occupied units later. Currently the units are not separately metered for utilities. Our rehab budget allows for separately metering the units for electric.
This property is located directly across from a community college and near plenty of shopping, food, and even a country club. Apparently Bill Gates has invested in over 20,000 acres in this community in order to bring agricultural employment to the area. We are told that his organization is looking to expand development with an additional 60,000 acres. Multifamily properties at 25k per door are very rare - please contact your advisor with serious interest.
18 - Studio
27 - 1 bedroom 1 bathroom
2 – 2 bedroom 2 bathroom