11613 SE 57TH AVE, BELLEVIEW, FL, 34420
$850,000
Residential Income
Bedrooms
8
Bathrooms
8
Living Area
4,128 Sqft
Lot Size
31,363 Sqft
An absolutely gorgeous and beautiful property consisting or 2 separate side by side custom built quads with individual parcel numbers. Great income property. Priced to sell. This is a two in one property sale. Seller is willing to sell each quad under separate contract in order for the Buyer to qualify for HUD, FHA, or a VA loan, but both buildings must be sold jointly at the same time. This is a wonderful 55+ community, with a very close nit elderly tenant population. Most all tenants have been residents since 2018 after the apartments were completely renovated. Currently all tenants are over 62 years of age with single occupancy. As such, possibility of converting to 62+ community. All units, total of 8, were completely gutted and refurbished in late 2017 to mid 2018. New roofs on both buildings with 40 year - 150 MPH, GAF shingles installed by Big D Roofing (commercial grade roofing contractor). All new porcelain PEI Grade 4 tile, all new appliances, all new high efficiency central air conditioning and heating systems (still under warranty), all new water heaters, all new water and electric fixtures, switches and outlets.... Units are solidly built with concrete block and stucco walls around the entire building and all concrete block walls in between all apartments inside the building, making them super solid buildings with minimal to no noise transfer between apartments. Very quiet area that is located on a dead end street with local traffic only. In the middle of the City of Belleview, and close to all the shopping. Majestic old growth Live Oak trees and Southern Yellow Pine trees on the property. A great investment opportunity and income property without any of the issues and headaches that come with a rental property and uncooperating tenants. All tenants are retired and always pay on the 3rd of the month. Never late rents. The complex was originally custom built with the highest grade of construction and material by the initial owners for retirement income purposes. Which included such things as installing high end fixtures made by Kohler.... The current owner is the second owner of the property, and has continued the renovation and upkeep of the properties with the best quality materials, such as installing high performance Rheem water heaters and high efficiency Goodman A/C systems and low flush American Standard toilets.... The property continues to be almost like new construction. All units have their own individual water and electric meters which are paid for by the tenants. The only expense by the owner is for lawn maintenance. Current owner is selling due to retirement. At the current sale price, the high CAP rate on this property makes it an ideal investment without the headaches coming from undesirable tenants, and with a great return on investment.
Property Details
Property Features Property Features
MLS ID: MFROM695746 Year Built: 1978
Appliances: Electric Water Heater, Range, Range Hood, Refrigerator Construction Materials: Block, Stone, Stucco
Cooling: Central Air Country: US
Exterior Features: Courtyard, Lighting, Private Mailbox Financial Data Source: Owner
Flooring: Tile Foundation Details: Stem Wall
Heating: Electric Laundry Features: None
Levels: One Listing Agreement: Exclusive Agency
Listing Terms: Cash, Conventional, FHA, VA Loan Lot Features: City Limits, Landscaped, Street Dead-End, Paved
Occupant Type: Tenant Other Structures: Other
Parking Features: Ground Level, Guest, Off Street, Open Pets Allowed: Cats OK, Dogs OK
Possession: Close Of Escrow Property Condition: Completed
Property Sub Type: Quadruplex Property Type: Residential Income
Road Responsibility: Public Maintained Road Road Surface Type: Asphalt, Concrete, Paved
Roof: Shingle Security Features: Smoke Detector(s)
Sewer: Public Sewer Showing Requirements: Appointment Only, Call Listing Agent, Do Not Contact Tenants, See Remarks
Special Listing Conditions: None Standard Status: Active
State Or Province: FL Tenant Pays: Electricity, Sewer, Trash Collection, Water
Utilities: Cable Connected, Electricity Connected, Fire Hydrant, Phone Available, Public, Sewer Connected, Street Lights, Water - Multiple Meters, Water Connected View: City, Trees/Woods
Water Source: Public Window Features: Aluminum Frames, Blinds
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