NE PLACE LAKE CITY FL 32055 MLS #O6175520

NE PLACE
LAKE CITY, FL, 32055
$1,349,000
162 Beds
81 Baths
6,922 SqFt
0.72 Acres
$1,349,000
NE PLACE
LAKE CITY, FL, 32055
Charming Development with 10 buildings and 10 tenants in place in this stable asset. With large upswing there is additional building that is waiting to be renovated the current owner has already gutted so it is easy redo. That unit will bring in approx. additional $1725 per month. The current owner has gone though 8 of the units and renovated the other two units the tenants have been there for years they are paying current rates they seem to love their homes they way they are. Also there is a existing pad with electric and plumbing just waiting for additional unit to be put in place for even more Cash Flow. The property has complete camera system so ownership may always be able to check their investment for their anytime anyplace. The current long term owner has made sure this investment will have no deferred maintenance. This amazing Cash Cow is located right off Historic Downtown Lake City, walking distance to the VA Hospital, and the Lake Soto Park. Lake City is experiencing growth like the rest of the State and limited housing. Please do not enter property without Appointment this is a Quite Sale.

Property Details

Price:
$1,349,000
MLS #:
O6175520
Status:
Active
Beds:
162
Baths:
81
Type:
Multi Family
Subdivision:
LAKE CITY
City:
LAKE CITY
Listed Date:
Mar 8, 2024
State:
FL
Finished Sq Ft:
6,922
ZIP:
32055
Lot Size:
31,494 sqft / 0.72 acres (approx)
Year Built:
1945
Units:
12

Schools

Interior

Appliances
Range, Refrigerator
Cooling
Wall/ Window Unit(s)
Flooring
Ceramic Tile, Engineered Hardwood
Heating
Wall Units / Window Unit
Laundry Features
Common Area

Exterior

Construction Materials
Block, Wood Frame
Exterior Features
Outbuilding, Lighting, Other
Roof
Metal

Financial

Buyer Agent Compensation
2.5%%
Tax Year
2022
Taxes
$4,195
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NE PLACE
LAKE CITY, FL