17-Home Portfolio (16 Rented) & 11+ Buildable Lots
94.1% Leased + Value Add Opportunity
Marketing description
This is an opportunity to acquire a 17-home residential portfolio with significant upside potential through both stable in-place income and future development. The property consists of 17 total units, with 16 currently leased, providing immediate cash flow supported by a strong and established tenant base. In addition to the existing homes, the offering includes 11+ additional buildable homesites, creating a unique value-add component. A key differentiator of this asset is its grandfathered parcel configuration, which allows for smaller lot splits and increased density that would not be achievable under today’s zoning regulations. The portfolio is situated on 6.03 acres within a private community near one of Florida’s largest spring-fed lakes and is surrounded by approximately 600 acres of conservation land, offering a desirable and tranquil setting for residents.
With a combination of current income, future development potential, and a rare zoning advantage, this property presents a compelling opportunity for investors seeking both yield and growth.
Investment highlights
- Immediate Cash Flow: 16 leased units generating $188,220 annual income with a NOI of $123,962
- Attractive Cap Rate: Offered at a 6.89% cap rate with stable in-place income
- Value-Add Upside: 11+ additional buildable lots for future development, resale, or increased rental density
- Rare Development Advantage: Grandfathered parcel configuration allows for higher density and smaller lot splits than current zoning permits
- Established Tenant Base: Long-term tenants (some 20+ years) provide stability, with additional upside from newer leases
- Prime Location & Setting: Located on 6.03 acres in a private community near a major spring-fed lake and surrounded by ~600 acres of conservation land
- Multiple Exit Strategies: Hold for yield, expand the portfolio, or sell off individual homes/lots
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
