Address
1302 NE 33RD AVENUE Ocala, FL
Price
$ 4,037,000
Property Attributes
  • MLS#T3327058
  • TypePending
  • CountyMARION
  • CityOcala
  • AreaOcala
  • Zip34470
  • StyleMulti-Family
  • Year Built1974
  • Taxes$ 35065
  • Price$ 4,037,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage32144
  • Lot Size1.93 Acres
Listing Provided Courtesy Of:
PAULINO GLOBAL REAL ESTATE
Data Source:
Stellar MLS
Property Description

A thirty-two-unit (32) multifamily investment opportunity in Ocala, FL. Turnkey investment with value add opportunities through continuing gradual rent increases currently being implemented. The property is of concrete construction with exterior masonry walls and the foundation is of reinforced concrete. It has central air conditioning. Flooring is a mix of carpet or vinyl in the common areas and tile or vinyl in the kitchens and bathrooms. The property has a lease to the laundry room of a nearby building, as well as a comfortable patio for residents to relax. The units also have a storage closet as well as walk-in closets. It is strategically located near the downtown area creating great visibility and desirability from residents. Historically, it has had a high level of occupancy. There are four buildings built-in 1974. It has been priced for sale at an attractive market cap rate of 5.15% based on current market rents. The Pro-forma cap rate is 6.0% and can be achieved by increasing rents by $100. This type of investment is a rare find in the United States' current compressing cap rate environment, especially in Florida where there is no state income tax. Capital improvements of over $150,000 were completed within the last 4 years. They include 2 roof replacements, 15 HVAC units, water heaters, several carpet replacements, new appliances in several units, and much more. Opportunity Zone expires on December 31, 2021.

Price History
9/13/2021 Listed $4,037,000

General Features

Additional Parcels Y/N No
Appliances Dishwasher, Dryer, Refrigerator, Washer
Building Area Units Square Feet
City OCALA
Construction Materials Concrete
Cooling Central Air
County Marion
Days on Market 45
Directions North on I-75, take exit 354 toward NW Blitchton Rd/Old Blitchton Rd (Ocala/Silver Spgs), continue onto NWNW 10th St/Bonnie Heath Blvd., right onto NE 33rd Ave, the building is on the right.
Disclosures None
Flooring Carpet, Ceramic Tile, Laminate
Heating Central
Levels Two
Lot Size Square Feet 84071
MLS Area 34470 - Ocala
Net Operating Income 208086
New Construction No
Occupant Type Tenant
Ownership Partnership
Property SubType Multi-Family
Property Type Commercial Sale
Roof Metal
Standard Status Pending
Status Pending
Street Name 33RD
Tax Annual Amount 35065.98
Tax Lot 00
Tax Year 2020
Total Number of Buildings 4
Township 15S
Utilities Electricity Available, Public, Water Connected
Virtual Tour https://pgmoves.com/homes-for-sale-featured/
Virtual Tour https://www.propertypanorama.com/instaview/stellar/T3327058
Water Access YN No
Year Built 1974
Zoning R3

Interior Features

Ceiling Type Drywall
Flood Zone Code Zone X
Living Area 32144
Living Area Units Square Feet
Livingareasource Public Records
Street Suffix AVENUE
Total Stories 2

Exterior Features

Building Area Total 72882
Foundation Details Slab
Lot Size Acres 1.93
Parking Features Over 30 Spaces
Road Frontage Type City Street
Road Surface Type Asphalt
Water Extras YN No
Water View YN No
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 34470

Price
AVG $270K
$4.04M
Taxes
AVG $1,811
$35,065
Visits
AVG 61
3
Year Built
AVG 1988
1974
Walkscore
AVG 26
40
Data Provided by Walkscore ® not using MLS data

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