Lake Placid Multi-Family Investment

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