Multi-Family Investment Property
511 S. Pine Street, Lake Placid, Florida 33852
Sold: $600,000
Property Details
Property Type
Residential
Building Type
Freestanding
Building Size
9,200 sqft
Land Size
1.03 acres
Units
15
Zoning
R2
Year Built
1991
Parcel Id #
P-06-37-30-040-0230-0010
Property Description
Richards Apartments – Pine Street Cluster is a 15-unit multi-family community in Lake Placid, Highlands County Florida. The property consists of 5 single-story buildings, each comprised of three garden-style rental units. The property is sited on 1.03 acres, bounded by Plumosa Street, South Pine Street and Palmetto Street in the neighborhood between US27 & South Main Avenue.
- Value-added opportunity for the investor
- Multi-family investment property
- 100% leased
- Located between South Main and US27
- Well-kept attractive rental income property
- 15 single-story garden style apartment homes
- Area of projected population and income growth
- Below market rents
- Priced for Sale: $700,000 ($46,667 per unit)