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600 W OAK TERRACE DRIVE, Leesburg, FL, 34748 | $6,500,000
Under contract-accepting backup offers. This 48-unit apartment complex offers a turn-key solution for investors seeking a stable income stream with a single tenant that ensures
minimal management effort. The entire property is leased by an accredited private 4-year college founded in 1989. With students from across the
country and internationally, the college's continued growth and established reputation ensures a strong and reliable tenant, making this a truly
hands-off investment. Residents enjoy modern living spaces with updated vinyl flooring and recently updated kitchens and bathrooms in most
units. One of the standout features of this property is its stunning Outdoor Oasis courtyard. This inviting outdoor space includes brick walkways,
spacious patios, two huge gazebos, and a charming brick fireplace, perfect for gatherings or relaxation. Beautiful stone flower beds, new palm
trees, and fresh sod create a serene environment, all maintained by an efficient irrigation system. Other Amenities included an on-site laundry
facility and management office, electronic locks on all apartments, and plenty of parking. Other recent major updates include roof replacement
on all the building in 2020, robust gutter and drainage system, exterior lighting, security cameras and gates, and the majority of the HVAC
systems have been replaced within the last five years. The property location is a significant asset, benefiting from its proximity to historic
downtown Leesburg where residents can enjoy local restaurants, shops, and Ski Beach/Venetian Park on Lake Harris. It's also conveniently
situated approximately 56 miles from Orlando International Airport and within a two-hour drive of stunning beaches on both the Atlantic and Gulf
coasts. Leesburg, FL, has seen significant growth in recent years, with several large employers near this property increasing the demand for
affordable housing in the area. AN ADDITIONAL 2. 68-ACRE ADJACENT PARCEL that offers the opportunity to possibly build up to an additional 48
units is also available. (MLS # G5099161) This is an opportunity not to be missed—call today for more information!
Features
- Units: 48
- Laundry: Common Area
- Year Built: 1980
- Heating: Central
- Cooling: Central Air
- Approx Sq. Feet: 39,524
- Acreage: 2.35
- Est. Taxes: $7,979
- MLS#: G5099082
- Days on Market: 114 days
- Website: https://www.raveis.com
/prop/G5099082/600woakterracedrive_leesburg_fl?source=qrflyer
Listing courtesy of CARLINO REAL ESTATE GROUP INC Phone: 352-326-2662
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
- Place up to 20+ photos of your home on our website, raveis.com
- Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
- Showcase your home on raveis.com with a larger and more prominent format
- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Pedro DelgadilloInsurance Sales Director, William Raveis Insurance
305.922.5393
Pedro.Delgadillo@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
600 W OAK TERRACE DRIVE, Leesburg, FL, 34748
$6,500,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $5,200,000 | $5,200,000 | $5,200,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.750% | 6.000% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.477% | 6.133% | 6.038% |
| Monthly Tax Payment | $665 | $665 | $665 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $30,346 | $31,177 | $43,530 |
| Total Monthly Payment | $31,136 | $31,967 | $44,320 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
FL Mortgage Lender MLD1388