737 Arbor Lake Dr Crestview, FL 32536

This exceptional investment opportunity presents a 128-unit apartment development situated on a spacious 12.84-acre lot in Crestview, Florida. The property, known as Arbor Lake Townhomes, is located in a rapidly growing area of Okaloosa County, offering significant potential for future appreciation. The development is fully entitled and partially improved, with 128 shovel-ready units available for immediate development. Currently, 24 existing duplex units and 12 townhome units are on-site, demonstrating existing occupancy and rental income potential. This prime location offers unparalleled convenience, situated just one block from Northwood Elementary and Richbourg Middle School, and within close proximity to Crestview High School, downtown Crestview, Duke Field, Eglin Air Force Base, Fort Walton Beach/Destin Airport, and the stunning beaches of the Emerald Coast. The asking price for this remarkable multifamily investment is $5,990,000. This presents a unique chance to acquire a substantial, partially developed property in a high-growth market, poised for significant returns. The existing units provide immediate cash flow, while the remaining undeveloped land offers substantial expansion potential. This is an ideal opportunity for investors seeking a high-yield, multifamily investment in a desirable Florida location. The property's strategic location near schools, military bases, and the beautiful Emerald Coast beaches ensures strong rental demand and long-term stability. This is a rare opportunity to acquire a large-scale development in a thriving market.