15 Residential Rental Units
Wood Duck Lane, Fruitland Park, Florida 34731
Sold: $1,100,000
Property Details
Property Type
Residential
Building Type
Freestanding
Building Size
24,638 sqft
Land Size
6 acres
Units
15
Sewer
Septic
Water
City
Zoning
PUD
Electric
City
Year Built
2006
Roof
Gable/Hip, Ashpalt Shingle
Parking
Driveways
Construction
Block/Stucco
Property Description
7% Cap Rate on existing "net operating income". History of good occupancy and steady increases in rental rates. The development (Picciola Reserve) consist of 11 lots with 8 lots developed (7 duplex buildings and 1 single family home). Constructed in 2005- 2007 by owner/contractor. The duplexes average 1,250 sf per rental unit with single car garages and the single family is 1,647 sf with 2 car garage. The 3 vacant lots not included.