804 Douglas StLeesburg, FL 34748

Property Details for 804 Douglas St

Year built

1973

Property size (Sq ft)

10,549 SF

Property type

Land

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 13-unit apartment building situated on a substantial land parcel in Leesburg, Florida. The property, totaling 10,549 square feet, comprises seven single-story buildings, each housing one or more of the 13 units. Built in 1973 and extensively renovated in 2022, the property boasts a Class B rating and currently enjoys 100% occupancy. Each of the spacious 2-bedroom, 1-bathroom units features approximately 847 square feet and includes laundry hookups. Individual water and electric meters provide efficient utility management. The property benefits from professional management and a highly desirable location, directly adjacent to UF Health Leesburg Hospital. Its strategic position also places it next to the Venetian Isle North Development Plan, a 75,000 square foot project encompassing assisted living, retail, and commercial spaces, and within walking distance of the larger Venetian Isles Development, featuring 138,000 square feet of commercial space, 252 apartments, and a 199-bed assisted living facility. Offered at $1,999,000, this redevelopment opportunity presents a compelling 6.00% cap rate. The combination of strong occupancy, desirable location, and recent renovations makes this a truly exceptional investment prospect.

Location Insight

City

Leesburg

County

Lake

State

Florida

Latitude

28.8076

Longitude

-81.8665

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