Active

$700,000

Features:
  • 14 Bedrooms
  • 8 Bathrooms
  • 4618 sq ft
Overview
  • ID: MFRTB8416432
  • Bedrooms: 14
  • Bathrooms: 8
  • Size: 4618 sq ft
Property Details
Remarks
Neely Drive Portfolio is a six-unit multifamily property located at 1318, 1325, 1324 and 1330 Neely Drive in Leesburg, Florida. Situated on 4.43 acres, the portfolio includes six single-story buildings totaling 4,618 square feet. Built between 1942 and 1956, the property features a low-density layout with a strong land-to-unit ratio and potential for future development or expansion. All units are individually metered for electric and water. The buildings are wood frame construction with shingle roofs. Three units have window A/C units, 2 units have mini-split A/C units and 1 unit has Central A/C. All roofs have been replaced within the last two years, reducing long-term capital expense exposure. Three of the six units located at 1318, 1320, and 1324 Neely Drive have been recently renovated, providing updated interiors and minimizing immediate maintenance needs. Located in Lake County, one of the fastest-growing regions in Central Florida, Leesburg offers a mix of affordability and access to major economic centers. The area benefits from consistent population growth, a strengthening rental market, and proximity to employment hubs throughout the Orlando metro area. The Neely Drive Portfolio offers a compelling opportunity for investors seeking a stable asset with long-term upside in a growing Florida market.
Financial Considerations
Price:
$700,000
HOA Fee:
N/A
Tax Amount:
$1581.16
Price per SqFt:
$151.58
Tax Legal Description:
N 220 FT OF E 1/2 OF NE 1/4 OF NE 1/4 OF NW 1/4--LESS N 40 FT & LESS W 40 FT & LESS BEG S LINE OF N 40 FT WITH E LINE OF W 40 FT INTERSCT RUN E 30 FT TO A PT DESIGNATED PT A BEG AGAIN AT POB RUN S 30 FT NE'LY TO PT A-- ORB 5725 PG 1020
Exterior Features
Lot Size:
192970
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
N/A
Roof:
Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
14
Bathrooms:
8
Heating:
Ductless
Cooling:
Ductless, Wall/Window Unit(s)
Appliances:
N/A
Furnished:
No
Floor:
N/A
Levels:
N/A
Additional Features
Property Sub Type:
Multi Family
Style:
N/A
Year Built:
1946
Construction Type:
Frame
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
Other
Additional Features 2:
N/A
Map
  • Address
    1318 NEELY DR
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