24 UNITS: 20.6% CAP - Sebring, FL - $630,000

[Jensen Jeune]

Description: 24 units, two- story bldg built in 1969, CBS construction, roll roof. 11 units have been renovated. Tile floor, central water/sewer. Located in the downtown area, near Lake Jackson and Highlands Hammock State Park, County support agencies and Sheriff's Dept. Sebring is the home of the Sebring International Raceway that host the 12- hour Grand Prix and the historic downtown district.

 24 UNITS: 16 studios and 8 1/1.

Price: $630,000.

Average Price/Unit: $26,250.00

No. Stories: 2

Year Built: 1969

Building Size: 11,880 SF

Lot Size: 2.02

Property Type: Multifamily

Property Sub-type: Garden/Low-Rise

Property Use Type: Investment

Cap Rate: 20.6%*

11 units are fully remodeled. 13 need some work @ $3,000 estimated per unit = $39,000

Occupancy: Currently there are only 11 units rented

NOI: $123,600/YR (Post Renovations & 100% occupancy)