765 Lake June RdLake Placid, FL 33852

Property Details for 765 Lake June Rd

Year built

1964

Lot size

15,000.00 AC

Property size (Sq ft)

2,140 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a stabilized, two-unit single-family home rental portfolio situated on a sprawling 15,000-square-foot lot in desirable Lake Placid, Florida. The property, boasting a combined 2,140 square feet of net rentable space, comprises two solid concrete block construction homes, each featuring recently updated roofs and air conditioning systems (2024). Currently operating at 100% occupancy with yearly leases generating a combined monthly rental income of $3,100, this portfolio offers a compelling 8.61% capitalization rate. The asking price is $400,000, translating to $200,000 per unit and $186.92 per square foot. The property is situated on Lake June Road, offering a prime location. Tenants are responsible for all utilities. Note that the ground lease is in place and expires July 14, 2025. This Class A property, built in 1964, presents a rare chance to acquire a high-performing rental portfolio in a sought-after Florida location. The current leases expire June 30, 2025 and July 14, 2025, providing immediate income and future lease renewal potential. This is a turnkey investment ideal for those seeking strong returns in the Florida real estate market.

Location Insight

City

Lake Placid

County

Highlands

State

Florida

Latitude

27.3243

Longitude

-81.4012

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