Address
Not Disclosed, LAKE CITY, FL
Price
$ 1,349,000
Property Attributes
  • MLS#O6175520
  • TypeIncome
  • CountyCOLUMBIA
  • CityLAKE CITY
  • AreaLake City
  • NeighborhoodLake City
  • Zip32055
  • StyleMulti Family
  • Year Built1945
  • Taxes$ 4195
  • Price$ 1,349,000
  • Bedrooms162
  • Full Bathrooms81
  • Half Bathrooms0
  • Sqr Footage6922
  • Lot Size0.72 Acres
Data Source:
Stellar MLS
Property Description

Charming Development with 10 buildings and 10 tenants in place in this stable asset. With large upswing there is additional building that is waiting to be renovated the current owner has already gutted so it is easy redo. That unit will bring in approx. additional $1725 per month. The current owner has gone though 8 of the units and renovated the other two units the tenants have been there for years they are paying current rates they seem to love their homes they way they are. Also there is a existing pad with electric and plumbing just waiting for additional unit to be put in place for even more Cash Flow. The property has complete camera system so ownership may always be able to check their investment for their anytime anyplace. The current long term owner has made sure this investment will have no deferred maintenance. This amazing Cash Cow is located right off Historic Downtown Lake City, walking distance to the VA Hospital, and the Lake Soto Park. Lake City is experiencing growth like the rest of the State and limited housing. Please do not enter property without Appointment this is a Quite Sale.

Price History
2/2/2024 Listed $1,349,000

General Features

Interior Features Living Room/Dining Room Combo
Sewer Public Sewer
Heating Wall Units / Window Unit
Cooling Wall/Window Unit(s)
Utilities Cable Connected,Electricity Connected,Fire Hydrant,Sewer Connected,Street Lights,Water Connected
Roof Metal
Appliances Range,Refrigerator
Exterior Features Outbuilding,Lighting,Other
Zoning MULTI-FAMI
Security Features Closed Circuit Camera(s),Security System Owned,Smoke Detector(s)
Construction Materials Block,Wood Frame
Year Built 1945
Tenant Pays Electricity,Sewer,Trash Collection,Water
Levels One
Property SubType Multi Family
Tax Year 2022
Percent Ownership Fee Simple
Gross Income 143100
County Columbia
New Construction No
Property Type Residential Income
HOA / Comm Assn No
Subdivision Name LAKE CITY
Garage Y/N No
Status Active
Directions 441 North from town 5 Blocks to right on NE Franklin St and Left on the 3rd Block NE Davis Ave Ave property will be up 4 Block on your left.
ModificationTimestamp 2024-03-08T02:54:10.977Z
City LAKE CITY
Buyer Agent Compensation 2.5%
Disclosures Seller Property Disclosure
View Y/N No
Senior Community Y/N No
NumberOfUnitsTotal 12
MLS Area 32055 - Lake City
Lot Size Units Square Feet
Lot Size Square Feet 31494
Waterfront Y/N No
Carport Y/N No
Land Lease Y/N No
Tax Annual Amount 4195
Ok to Lease 12 Months
Additional Parcels Y/N No
Virtual Tour https://www.propertypanorama.com/instaview/stellar/O6175520
Days on Market 2
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Total Actual Rent 11925
Legal Description NE DIV: COMM AT SW COR OF BLK 17,RUN N 50.02 FT FOR POB,CONT N 159.32 FT TO S R/W OF TRINITY PL,E ALONG S R/W 204.21 FT,SE 9.38 FT TO W R/W OF NE DAVIS AVE,S ALONG W R/W 153.96 FT,W 205.60 FT TO POB.
Water Access Y/N No
Water View Y/N No
Flood Zone Code X

Interior Features

Flooring Ceramic Tile,Engineered Hardwood
Furnished Y/N Unfurnished
Air Conditioning Y/N Yes
Heating Y/N Yes
Window Features Aluminum Frames
Fireplace Y/N No
Laundry Features Common Area
Total Bedrooms 162
LivingAreaSource Public Records
Total Baths 81

Exterior Features

Water Source Public
Lot Size Area 31494
Foundation Details Crawlspace,Slab
Number of Buildings 10
Building Area Total 6922
Lot Size Acres 0.72
Road Surface Type Dirt,Paved
Number of Lots 2

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 32055

Price
AVG $1.35M
$1.35M
Taxes
AVG $4,195
$4,195
Visits
AVG 672
672
Data Provided by Inside Real Estate®
Year Built
AVG 1945
1945