125 N Davis Ln - Apartments FOR SALE


Defuniak Springs, FL 32433
$6,795,000 USD
850-467-9200
125 N Davis Ln, Defuniak Springs, FL for Sale
$6,795,000 USD
Apartments - FOR SALE
1/11
null | 6.3% Cap Rate

125 N Davis Ln
Defuniak Springs, FL 32433


HIGHLIGHTS

  • With durable hard coat stucco exteriors and a hassle-free maintenance design and poised for long-term, steady returns
  • The property benefits from strong local demographics, including over 24,000 people within 10 miles and an average household income of $68,084
  • Featuring 55 modern, well-designed units with a mix of 1, 2, and 3-bedroom layouts, residents enjoy generous living spaces
  • Take advantage of a Freddie Mac assumable loan at a competitive 3.54% interest rate with approximately 7 years remaining
  • Recently updated in 2023 with new metal roofs and freshly painted, low-maintenance stucco exteriors
  • Riviera Place Apartments offers a turnkey investment with a solid track record of success and a 95% occupancy rate

OVERVIEW

Riviera Place Apartments, located at 125 N Davis Lane, presents an exceptional investment opportunity with a sale price of $6,795,000. This 42,000 SF multifamily property features 55 modern units, offering a mix of one, two, and three-bedroom layouts. Recently renovated in 2023, the property boasts new metal roofs and freshly painted, low-maintenance hard coat stucco exteriors. With a strong 95% occupancy rate and an attractive 3.54% assumable Freddie Mac loan with approximately 7 years remaining, this property provides a compelling option for investors seeking stable returns and below-market financing. Located in a growing market with over 24,000 people within 10 miles and an average household income of $68,084, Riviera Place Apartments offers both immediate income potential and long-term growth prospects.

FOR SALE DETAILS

PRICE

$6,795,000 USD

PRICE/SF

$162 USD /SF

# OF UNITS

55

PRICE/UNIT

$123,545

CAP RATE

6.3%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Riviera Place Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

PARKING SPACES

84

LAND DETAILS

LAND ACRES

3.4 AC

LAND SF

148,104 SF

ZONING

R-2

APN/PARCEL ID

25-3N-19-19070-001-536A

ASK ABOUT THIS PROPERTY

Gordon MacLeanDiligent Coworking LLCMore Info
850-467-9200

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Gordon MacLeanDiligent Coworking LLCMore Info
850-467-9200

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