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$ 10,200,000
Est. payment /mo
New
150-221 SE SUNDIAL PL Lake City, FL 32025
51,190 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 51,190 sqft
Price per Sqft $199
MLS Listing ID 2146262
Year Built 1986
Lot Size 6.630 Acres
Acres 6.63
Property Sub-Type Multi Family
Source realMLS (Northeast Florida Multiple Listing Service)
Property Description
Introducing Sundial Apartments - a 107-unit multifamily investment opportunity strategically positioned in the heart of Lake City, known as the ''Crossroads of Florida'' due to its exceptional connectivity via I-10 & I-75. This well-performing asset offers investors stable in-place income, strong historical occupancy, and immediate upside potential through rental growth.
Current occupancy stands at an impressive 96%.
Property offers 62 studio/efficiency units (400 sq ft), 37 standard 1BR units (550 sq ft), and 8 larger 1BR units (750 sq ft).
Sundial presents a compelling value-add opportunity with current lease rates estimated to be approximately 10% below comparable properties. New ownership has the opportunity to implement strategic rent increases while maintaining strong occupancy, creating immediate potential for revenue growth and enhanced cash flow.
Current occupancy stands at an impressive 96%.
Property offers 62 studio/efficiency units (400 sq ft), 37 standard 1BR units (550 sq ft), and 8 larger 1BR units (750 sq ft).
Sundial presents a compelling value-add opportunity with current lease rates estimated to be approximately 10% below comparable properties. New ownership has the opportunity to implement strategic rent increases while maintaining strong occupancy, creating immediate potential for revenue growth and enhanced cash flow.
Location
State FL
County Columbia
Area 803-Columbia-Southeast
Direction From Jacksonville, travel west on I-10 to I-75 North.
Exterior
Parking Features Parking Lot
Private Pool No
Building
Lot Description Cleared
Story 2
Level or Stories 2
Others
Tax ID 17-4S-17-08437-000
Listed by IRON VALLEY REAL ESTATE NORTH FLORIDA • ELIZABETH M MOSES