504 Ocean Avenue, APOPKA, FL

About 504 Ocean Avenue

Rare find cash cow - 3-unit triplex building for sale. Concrete block construction. 2 units occupied by long-term month-to-month tenants paying $525 per month (very low and should be increased to near $800 per month) who are paid up-to-date and want to stay. 1 unit is currently empty. All units are 1 bedroom, 1 bathroom, plus living room, and kitchen. All units have separate electric meters paid for by the tenants. Water bill (approx $25 per month), lawn maintenance ($100 per month), and pest control ($35 per month) are paid by the landlord. Roof replaced in 2017. Septic and drain field replaced in 2018 and pumped in 11/2022. Water heaters replaced in 2015. Building partially re-plumbed in 2015 with each unit having its own water heater and shut off valve. Building totally re-wired with new electric panels in 2005. Unit B had new kitchen in 2018, new flooring in 2023, and freshly painted in 2023. Unit C has carpet. Unit A was tile floored and updated kitchen in 2015. Garage has been rented out in the past to a 4th tenant as a storage unit for $250+ per month. Easy to rent as the building is just minutes from Aldi, Winn Dixie, Sams Club, Walmart Supercenter, convenience stores, lots of shopping, and the bus route. Seller is downsizing their portfolio and says let's make a deal.

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