100 N Dewey St - Apartments FOR SALE


Eustis, FL 32726
$3,550,000 USD
813-387-4754
100 N Dewey St, Eustis, FL for Sale
$3,550,000 USD
Apartments - FOR SALE
1/21
null | 5.45% Cap Rate

100 N Dewey St
Eustis, FL 32726


HIGHLIGHTS

  • Spacious units at just under 1,000 square foot per unit
  • One unit is fully furnished and is commanding rent premiums $357 over the average in-place rents
  • Opportunity to increase NOI 45% by bringing rents up to pro-forma projections with minimal capital infusion needed
  • Eustis, FL has an unemployment rate of 5.3% which is 0.7% lower than the national average of 6%
  • Future job growth over the next ten years is projected to be 51.2%, which is higher than the U.S. average of 33.5% (www.bestplaces.net)
  • Employment in Eustis grew at a rate of 12.9% from 2021-2022, increasing from 9.95k employees to 11.2k employees (www.datausa.io)

OVERVIEW

20-unit multifamily property completed in 2022 in Eustis, FL which is part of the Orlando, FL MSA. Fully stabilized asset with average in-place rents of over $1,350 per unit. Apartment interiors consist of luxury finishes including luxury vinyl plank flooring, quartz countertops, stainless steel appliances, full size washer/dryers and elevator access to upper units. Located within walking distance of historic Downtown Eustis with access to shops, eateries, arts and entertainment along with access to boating on Lake Eustis. Recent and upcoming developments in Eustis include a new University of Florida Medical Facility and a new, state-of-the art emergency room and a UCF Business Incubator

FOR SALE DETAILS

PRICE

$3,550,000 USD

PRICE/SF

$178 USD /SF

# OF UNITS

20

PRICE/UNIT

$177,500

CAP RATE

5.45%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

100North Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

5

YEAR BUILT

2022

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

CBD

APN/PARCEL ID

11-19-26-0100-036-00100

ASK ABOUT THIS PROPERTY

Jason HagueMarcus & MillichapMore Info
813-387-4754

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Jason HagueMarcus & MillichapMore Info
813-387-4754

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.