About this property
Richards Apartments – E. Phoenix Street Cluster is a 34-unit multi-family community in Lake Placid, Highlands County Florida. The property consists of 3 land parcels totaling 2.49 acres. The 2 developed parcels feature mature landscaping and ample common outdoor areas.
Parcel 1: 311 E. Phoenix Street is .62 acres and is located at the northwest corner of E. Phoenix Street and Spruce Avenue. The property has an L-shaped building containing 10 apartment units and a laundry room. The site also includes a maintenance out-building.
Parcel 2: 306 E. Phoenix Street is 1.87 acres and is located on the southwest corner of E. Phoenix Street and Spruce Avenue. The property has 10 buildings containing 23 apartment units, 2 maintenance structures and 2 laundry structures. The site enjoys numerous curb-cuts, allowing access and paved resident parking.
Parcel 3: 252 E. Phoenix Street is a 0.36 acre vacant parcel adjacent to 306 E. Phoenix Street on the east side.
- Value-added opportunity for investor or owner/operator
- Multi-family investment property with the opportunity to add additional units
- 100% leased
- Well-kept attractive rental income property - 22 roofs have been replaced
- 34 single-story rental units of various types, a laundry and maintenance storage area
- Below market rents
Property details
- Property Type
- Residential
- Building Type
- Freestanding
- Building Size
- 20,000 sqft
- Land Size
- 2.85 acres
- Units
- 34
- Zoning
- R2
- Year Built
- 1972
- Parcel Id
- P-06-37-30-010-0050-0010
Documents 1 file
Last updated: Sep 30, 2026
Location
- Address
-
306-325 E. Phoenix Street
Lake Placid, Florida 33852