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4602 Sleepy Oak Ln
Titusville, FL 32780
Sleepy Oaks Apartments · Multifamily Property For Sale
·
40 Units
INVESTMENT HIGHLIGHTS
- Long term ownership: The property was constructed, owned, and operated by the same family since the 1980s
- Attractive Amenities: Every unit has washer/dryer connections and a patio/balcony; and every first-floor unit has access to a large storage closet
- Concrete block construction
- Unit Mix: Consists of all two-bedroom units with 900 square feet
- Strong Tenant Retention: Very little tenant turnover with many tenants living at the property for well over five years
EXECUTIVE SUMMARY
A 40-unit, market-rate property located in Florida’s Space Coast. Upside Potential: Seller has purposefully kept rents far below market value, allowing significant upside opportunity for the next buyer through a strategic renovation plan in the amount of over $300 per month. Located just minutes from multiple secondary and primary education facilities including Apollo Elementary School, James Madison Middle School, Andrew Jackson Middle School, Titusville High School, Astronaut High School and Eastern FL State College. Less than three miles from US-1, providing convenient access to Space Coast Regional Airport, NASA, Kennedy Space Center Visitor Complex, SpaceX, Blue Origin Rocket Facility as well as local beaches and retail venues.
PROPERTY FACTS Under Contract
| Price Per Unit | $129,123 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 4.52 AC |
| Cap Rate | 6.27% | Building Size | 36,000 SF |
| No. Units | 40 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1986 |
| Apartment Style | Garden | Parking Ratio | 2.83/1,000 SF |
| Zoning | R2 | ||
| Price Per Unit | $129,123 CAD |
| Sale Type | Investment |
| Cap Rate | 6.27% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.52 AC |
| Building Size | 36,000 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 2.83/1,000 SF |
| Zoning | R2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Range
- Patio
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Storage Space
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 40 | - | 900 |
PROPERTY TAXES
| Parcel Number | 22-35-20-AV-00000.0-0127.00 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $4,415,625 CAD |
PROPERTY TAXES
Parcel Number
22-35-20-AV-00000.0-0127.00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$4,415,625 CAD
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