Quick Flip - Multi-Fam in Lake City FL - $155,000

[Dell Colvert]

QUICK FLIP - Palm Ridge Corner Apartments | Lake City, FL

1380 East Duval Street - Lake City, FL 32055

$1,555,000

Cap Rate: 8.46%

Tenant: Palm Ridge Corner Apartments | Lake City, FL
Premises: 4,707 SF

For Sale the 4,707 SF Palm Ridge Corner Apartments Asset Located at 1380 East Duval Street in Lake City, FL. This Deal Includes Newly Renovated Units Located in an Area That Has a High Demand For Rental Housing and New Development, Providing For a Unique Investment.

• All Units Renovated 2022 / 2023
• Mini Split AC Systems in All Units (Installed 2022)
• City Sewer / City Water
• Laundry Room Onsite
• New Roof Being Installed in November 2023
• Fully Stabilized Asset
• Lake City is Located Off I-10 and I-75 Intersection; Major Travel Routes to Jacksonville, Valdosta, and Tallahassee
• Numerous Employment Opportunities in the Area; Property is Close Proximity to Walmart, Major Hotel Brands, 
• Major Food Chains, Large RV Dealers
• Area Experiencing Increased Demand For Rental Housing and New Development

Financing is Available  ! If you have at least a 630 score ( mid fico), I can prequalify you for 100% financing ( purchase & rehab),

65-75% ARV, NO DOWN PAYMENT required. This is a gimme opportunity. Let me know.