600 W Oak Terrace Drive, Leesburg, FL 34748
Local realty services provided by:Better Homes and Gardens Real Estate Lifestyles Realty
Listed by:jonathan martin
Office:carlino real estate group inc
MLS#:G5099082
Source:MFRMLS
Price summary
- Price:$6,500,000
- Price per sq. ft.:$164.46
About this home
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!
Contact an agent
Home facts
- Year built:1980
- Listing ID #:G5099082
- Added:89 day(s) ago
- Updated:October 05, 2025 at 12:00 PM
Rooms and interior
- Total bathrooms:64
- Living area:39,524 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Central
Structure and exterior
- Roof:Shingle
- Year built:1980
- Building area:39,524 sq. ft.
- Lot area:2.35 Acres
Utilities
- Water:Public
- Sewer:Public, Public Sewer
Finances and disclosures
- Price:$6,500,000
- Price per sq. ft.:$164.46
- Tax amount:$7,979 (2024)
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Properties in listings may have been sold or may no longer be available.
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