• iBuyRightProperties.com


Updated: May 20

Location: 922 BROWNLEE STREET, STARKE, FL 32091 (Pecan Tree Apartments)

Asking Price: $3,750,000 + 3%

OFFERING SUMMARY Price / Unit: $62,500    Price / SF: $88.88 Number Of Units: 60    Building Size: 42,191 SF Year 1 Cap Rate: 8.5%    Year 1 NOI: $318,594 Lot Size: 4.57 Acres    Renovated: 2015 Market: Gainesvile PROPERTY OVERVIEW Pecan Tree Apartments is a 60 Unit Multifamily Complex with an on site leasing office. This asset is located between Gainesville and Jacksonville FL  The property is of brick construction with pitched shingle roofing, consisting of 8 two-story apartment buildings with a total of approximately 42,191 gross square feet and is situated on 4.57 acres. The unit mix is 24 two bedroom one bath units and 36 three bedroom one bath units.  The utilities are separately metered for electric, gas and water, all paid by the tenants. The units feature tile flooring throughout and window air conditioning systems. The community has an onsite laundry.  Ideally located near Santa Fe College and Shands Starke Regional Medical Center. Half an hour to Gainsville Regional Airport, and forty-five minutes to the Univeristy of Florida.

PROPERTY HIGHLIGHTS • Year 1 Scheduled Income $543,000 • Year 1 Cap Rate 8.5% • Year 1 NOI $318,594 • History of High Occupancy • Brick Construction • Tenants Pay All Utilities • Laundry Facility on Site • Desirable Unit Mix PROPERTY DETAILS APN: 02921-0-00000    TYPE OF OWNERSHIP: Fee Simple LOT SIZE: 4.57 AC    BUILDING SIZE: 42,191 SF BUILDING CLASS: C    YEAR BUILT: 1972 NUMBER OF BUILDINGS: 8    NUMBER OF STORIES: 2 NUMBER OF UNITS: 60    FOUNDATION: Slab CONSTRUCTION TYPE: Concrete Brick ROOF: Pitched Shingle    HVAC: Window Units SEPARATE WATER METERS:     SEPARATE ELECTRIC METERS LANDSCAPING: Mature

Nearby Schools

  • Bradford Virtual School

  • Bradford Virtual Franchise School

  • Bradford High School

ADDITIONAL INFORMATION IS AVAILABLE TO QUALIFIED BUYERS ONLY! Buyers are advised to do their own independent due diligence and research before commuting with the purchase FOR FINANCING OPTIONS PLEASE Email NOTE:                      - Price is firm and not negotiable. PLEASE, NO TRANSACTIONAL FUNDING. REQUIRED TO MAKE AN OFFER: 1.SIGNED NDA 2. LETTER OF INTENT (LOI) 3. VERIFIABLE PROOF OF FUNDS (BANK OR FUND STATEMENT).



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