0 Ark PlLake City, FL 32055

Property Details for 0 Ark Pl

Year built

1945

Lot size

0.72 AC

Property size (Sq ft)

640 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents an 11-unit single-family rental portfolio situated in Lake City, Florida's Opportunity Zone. The property, boasting a 13% cap rate and $100,000 NOI, comprises eleven 1-story buildings constructed in 1945 and fully renovated in 2024. Unit sizes range from 640 to 1200 square feet, each with one parking space. Currently, 10 of the 11 units are occupied (80% occupancy rate), generating a consistent cash flow. The property features durable block construction with metal roofing, minimizing maintenance costs. Eight units include washer/dryer hookups, and all units are equipped with window air conditioning units. The 0.723-acre lot is secured by a half-gated entrance and mesh fencing, creating a private and safe environment for residents. The property is zoned RSF-3, offering flexibility for future development or enhancements. The asking price is $1,490,000, translating to $216.57 per square foot. This prime investment offers significant tax advantages due to its location within a federally designated Opportunity Zone, making it particularly attractive to both domestic and international investors. The property's strong cash flow, low maintenance requirements, and secure location contribute to its long-term investment potential. The projected full occupancy date is November 13, 2024. The APN is 00-00-00-10890-000.

Location Insight

City

Lake City

County

Columbia

State

Florida

Latitude

30.1974

Longitude

-82.6342

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].