We are pleased to present for sale this newly developed MHP on the very desirable Lake Istokpoga in Lake Placid, FL. This is a community with 14 brand new 2023 Legacy single-wide mobile homes, 3 single- family houses, and 1 apartment unit on 2.74 acres of lakefront property. All of the units are either brand new or totally renovated from the ground up.
Located on one of the 5th largest lake in Florida and one of the best fishing lakes attracting fisherman to camps all around the lake. A new investor can operate this as a long term rental community or partially convert to a short-term rental/Airbnb community to achieve much higher rents. There is plenty of vacation and seasonal demands as this is one of the most desirable lakes in central Florida.
The current owners of the community have completed development and are now advertising units for rent. One of the partners needs to pull his capital out for another project, so a buyer has the potential to buy this property with short term debt, finish filling the units, and potentially refinance to achieve above average returns in a short amount of time. We have a soft debt quote for private money and we anticipate this property being worth upwards of $3.2m+ once fully occupied.
Located on one of the 5th largest lake in Florida and one of the best fishing lakes attracting fisherman to camps all around the lake. A new investor can operate this as a long term rental community or partially convert to a short-term rental/Airbnb community to achieve much higher rents. There is plenty of vacation and seasonal demands as this is one of the most desirable lakes in central Florida.
The current owners of the community have completed development and are now advertising units for rent. One of the partners needs to pull his capital out for another project, so a buyer has the potential to buy this property with short term debt, finish filling the units, and potentially refinance to achieve above average returns in a short amount of time. We have a soft debt quote for private money and we anticipate this property being worth upwards of $3.2m+ once fully occupied.
Property Details
Price:
$2,500,000
MLS #:
S5108258
Status:
Active
Beds:
0
Baths:
0
Address:
44 CRAWFORD DRIVE
Type:
Commercial
Subtype:
Multi Family
City:
LAKE PLACID
Listed Date:
Jul 8, 2024
State:
FL
Finished Sq Ft:
19,000
ZIP:
33852
Lot Size:
119,354 sqft / 2.74 acres (approx)
Year Built:
2023
See this Listing
I have been selling real estate for over 23 years from New York to Florida. My main service areas include Celebration, Marco Island, Miami, Naples, Orlando, Sarasota, Tampa, Windermere. We can help you buy or sell real estate anywhere in the State of Florida. Looking for Golf Course Homes For Sale, Luxury Estates, Beachfront Condos, Gated Communities, Fine Homes and Estates, we cover it all.
More About GaryMortgage Calculator
Schools
Interior
Cooling
Central Air
Exterior
Construction Materials
Block, Metal Siding, Other, Wood Frame
Financial
Buyer Agent Compensation
1.5%%
Tax Year
2023
Taxes
$7,935
Map
Community
- Address44 CRAWFORD DRIVE LAKE PLACID FL
- CityLAKE PLACID
- CountyHighlands
- Zip Code33852
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Courtesy of MACERA REALTY GROUP INC. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the Stellar MLS. Detailed information about real estate listings held by brokerage firms other than CENTURY 21 Carioti include the name of the listing broker. Neither the listing company nor CENTURY 21 Carioti shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. Stellar MLS. All rights reserved. 44 CRAWFORD DRIVE
LAKE PLACID, FL
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