227 Orange StSebring, FL 33870

Property Details for 227 Orange St

Year built

1960

Property size (Sq ft)

17,430 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 12-unit apartment building portfolio located in Sebring, Florida, within Highlands County. The property comprises nine individual parcels totaling 17,430 square feet on a 97,640 square foot lot and features a mix of apartment building and duplex/triplex/quadplex units, all currently 100% occupied. Built in 1960, this Class B property boasts a strong net operating income (NOI) of $183,524, resulting in an 8.00% cap rate. The asking price is $2,295,000, translating to $191,250 per unit and $131.67 per square foot. The property benefits from a recent, high-quality renovation in downtown Sebring, offering an attractive aesthetic. Its location provides proximity to the Sebring Racetrack and numerous lakes, while also being conveniently located within an hour of larger cities. No flood insurance is required. The property is subject to a ground lease and is being sold by the owner, iBuy Fund, LLC. Monthly rental income is $17,275. Most tenants pay their own utilities

Location Insight

City

Sebring

County

Highlands

State

Florida

Latitude

27.4955

Longitude

-81.4362

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