Income producing apartments in Leesburg in Leesburg, FL

8 1 5 Washington St. Leesburg, Florida 34748 ($425,000.[removed phone] bd. / 22 ba. 10,400 sq. ft. Built in 1963 Block construction Occupied -- Call for appointment, Foster Algier [removed phone]. Here is a total concrete block apartment building located across the street from the Leesburg Hospital in an area of professional and medical offices. The entire building has been rehabbed both inside and out (a list of attached repairs/updates is available). The vacant lot opposite is worth $32k and is included in the price. There are 17 apartments and the building has been fully rehabbed interior and exterior. All but 2 apartments are rented. Net operating income of $80,940 annually (less Mgmt Fees). Zoned for residential or multi-family. When at full occupancy, the Income will exceed $8000 per month. Overheads continue to be around $1300 per month which includes Insurance, Real Estate Taxes, Leesburg Utilities and Comcast Internet for the Security System. The property is currently managed by Parent Management who have an office nearby -- they charge 10% of all rent collected per month. If you wish to change Management, they just need 30 Days Notice to hand over. There is nothing locally or in Central Florida that compares to the Income, location or recent rehab condition of the property. Financing is ok. FINANCIAL ANALYSIS