150-221 SE Sundial Pl
Lake City, FL 32025
Sundial Apartments · Multifamily Property For Sale · 107 Units

Sundial Apartments represents a stabilized multifamily asset characterized by high tenant retention and a diverse revenue stream. Over the trailing 12-month period, the property has demonstrated strong operational resilience, maintaining high collections and effectively managing expenses to deliver dependable NOI. Its presence in a "Small Market" provides the investor with higher yield opportunities compared to Tier-1 metropolitan areas, while maintaining the security of a stabilized, professional-grade asset.
• Portfolio Occupancy: Historically stabilized in the 95%–97% range.
• Revenue Growth: Positive T12 trend fueled by a 15% contribution from ancillary income and utility recoveries.
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I. REVENUE COMPOSITION & UPSIDE
The property utilizes a diversified income model that shields the investor from fluctuations in base rent.
Ancillary Income Drivers:
• Utility Recapture (RUBS): A highly efficient program capturing significant portions of Electricity, Water, and Gas expenses. Utility reimbursements account for nearly 11% of Total Effective Income.
• Value-Add Fees: Consistent revenue from trash services, administrative fees, and late charges provides a steady "Other Income" stream that exceeds 15% of the total revenue mix.
• Loss-to-Lease Capture: Current rent rolls indicate a systematic narrowing of the gap between "In-Place" and "Market" rents.
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II. ASSET MIX & LEASING DYNAMICS
Sundial’s unit mix is designed to capture the broadest possible segment of the local workforce, ensuring high demand and low turnover and provides a natural hedge against market fluctuations.
The property features a variety of floor plans with market-competitive rental rates:
• 54 Units- Studio / Efficiency (400 Sq Ft)
• 43 Units- Standard One-Bedroom (550 Sq Ft)
• 10 Units- Large One-Bedroom (750 Sq Ft)
Current Lease Status
• Stability: High historical occupancy with minimal vacancy loss recorded in the current rent roll.
• Growth Potential: The property currently offers a 12% total income boost that a new owner can tap into immediately. About half of this comes from simply updating older leases to match what new tenants are already paying, while the rest comes from filling a few remaining vacancies. This variance sits in an ideal "sweet spot," to increase the building's value by roughly $500,000 on an exit 6% CAP without renovations or construction.
• Rent Appreciation: Rates have steadily increased over 25% since 2021.
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III. MANAGEMENT EFFICIENCY
Institutional-grade oversight has resulted in a clean expense profile with optimized labor and maintenance costs.
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IV. INVESTMENT THESIS
1. Durable Cash Flow: Strong Debt Service Coverage Ratio (DSCR) potential based on current operational margins.
2. Efficiency: The RUBS program is mature and outperforms typical small-market recapture rates.
3. Market Position: Competitively priced floor plans that sit in the "sweet spot" of the local market's affordable tier.
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PLEASE REQUEST NDA FOR FULL FINANCIAL DISCLOSURE: T12 P&L, Certified Rent Roll, and Third-Party Reports is available to qualified investors upon the execution of a Non-Disclosure Agreement.