Multifamily
Paddock Apartments
1900 SW 31st Ave, Ocala, FL 34474
Listing Price: $13,000,000
Cap Rate
5.98%
Number of Units
85
GRM
11.27
Price/Unit
$152,941
Price/Gross SF
$196.88
Gross SF
66,030
Investment Overview
85-unit property located in the rapidly growing City of Ocala
Paddock Apartments
Investment Highlights
- 85-unit property located in the rapidly growing City of Ocala
- Offered at over a 6.5% cap rate off seller's trailing financials with a clear pathway to substantial rent growth in the amount of $250 per unit on average, through strategic unit renovations
- Situated less than a mile from the College of Central Florida, Paddock Mall, as well as Interstate 4 and SW College Road, two major thoroughfares that run through the city
- Attractive unit mix of 65% two-bedroom units, all of which have washer/dryer connections with the remaining one-bedroom units having access to on-site laundry
- Ocala ranked 5th among the "Fast-Growing Places" in the United States and saw net migration of nearly 10% from 2014-2018 (US News & World Report, 2021)
- Future job growth for Ocala is expected to significantly outpace the National Average at a rate of 37.6% over the next ten years (BestPlaces, 2021)
- Ocala was ranked as the 67th "Best Place to Live" in the United States (US News & World Report, 2022)
- Ocala has become a powerhouse logistical hub and is home to distribution and logistics centers for major companies such as Chewy, AutoZone, FedEx, Kmart, Dollar Tree and Amazon
Exclusively Listed By
Financing By
Listing Price: $13,000,000
Cap Rate
5.98%
Number of Units
85
GRM
11.27
Price/Unit
$152,941
Price/Gross SF
$196.88
Gross SF
66,030
Investment Highlights
- 85-unit property located in the rapidly growing City of Ocala
- Offered at over a 6.5% cap rate off seller's trailing financials with a clear pathway to substantial rent growth in the amount of $250 per unit on average, through strategic unit renovations
- Situated less than a mile from the College of Central Florida, Paddock Mall, as well as Interstate 4 and SW College Road, two major thoroughfares that run through the city
- Attractive unit mix of 65% two-bedroom units, all of which have washer/dryer connections with the remaining one-bedroom units having access to on-site laundry
- Ocala ranked 5th among the "Fast-Growing Places" in the United States and saw net migration of nearly 10% from 2014-2018 (US News & World Report, 2021)
- Future job growth for Ocala is expected to significantly outpace the National Average at a rate of 37.6% over the next ten years (BestPlaces, 2021)
- Ocala was ranked as the 67th "Best Place to Live" in the United States (US News & World Report, 2022)
- Ocala has become a powerhouse logistical hub and is home to distribution and logistics centers for major companies such as Chewy, AutoZone, FedEx, Kmart, Dollar Tree and Amazon
Investment Overview
85-unit property located in the rapidly growing City of Ocala
Exclusively Listed By
Financing By
