1715 NE 36th Ave - Apartments FOR SALE


Ocala, FL 34470
$11,000,000 USD
813-387-4754
1715 NE 36th Ave, Ocala, FL for Sale
$11,000,000 USD
Apartments - FOR SALE
1/16
null | 6.3% Cap Rate

1715 NE 36th Ave
Ocala, FL 34470


HIGHLIGHTS

  • Large floor plans of over 1,000 square feet on average
  • Amenities include on-site laundry facilities, swimming pool, entry gate and private patios/balconies for every unit
  • Ample amounts of green space to add additional outdoor amenities such as a dog park, grilling area, gazebo, shuffle board, etc.
  • More than seven million square feet of industrial spec space in development with another eight million square feet in the pipeline
  • Future job growth for Ocala is expected to significantly outpace the National Average at a rate of 37.6% over the next ten years (BestPlaces, 2021)
  • Ocala Metro ranked fourth in the nation in annual range growth and 25th in five-year wage growth (Ocala Chamber of Commerce)

OVERVIEW

68-Unit multifamily community consisting mostly of two- and three-bedroom units. Demonstrable rental upside of up to $250 per unit, through continued unit renovations - seller has renovated over half of the units including updated kitchens, bathrooms and flooring. Seller has invested significant capital improvements since 2024, including unit renovations, new paint throughout the property, cosmetic repairs and new roof with warranty on every building. Ocala Metro had one of the fastest growing economies in the nation from 2019-2021 of 11.3% compared to the statewide and nation wide average of 6.8% and 3.0% respectively (US Department of Commerce, 2022). Ocala has become a powerhouse logistical hub and is home to distribution and logistics centers for major companies such as Chewy, AutoZone, FedEx, Kmart, Dollar Tree and Amazon

FOR SALE DETAILS

PRICE

$11,000,000 USD

PRICE/SF

$156 USD /SF

# OF UNITS

68

PRICE/UNIT

$161,765

CAP RATE

6.3%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Village Square Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1974

PARKING SPACES

126

LAND DETAILS

LAND ACRES

5.31 AC

LAND SF

231,304 SF

ZONING

R3

APN/PARCEL ID

27264-000-00

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.