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1021 Northwest Turner Avenue
Lake City, FL 32055
Asking Price
$2.50M
Asset Type
Residential Land
Class
Class B
What's Special
Pad Ready Land For Sale - 16.16± AC <p>PROPERTY HIGHLIGHTS </p><p>16.16 pad ready acres for 80 residences </p><p>40 duplexes - 20 two-bedroom, 20 three-bedroom </p><p>Plans available for cottage style duplexes with tall roofs and covered front and rear porches. Expected rent for the 2/2 duplexes is $1,200/unit. </p><p>Expected rent for the 3/2 duplexes is $1,600/unit. </p><p>Easy access to I-75 and I-10. Shopping, dining and recreational activities are nearby in Lake City. Fully engineered stormwater facilities with retention pond
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NOI
$80,000
Cap Rate
3.20%
DSCR
0.54
Underwater
Cash-on-Cash
-9.12%
Monthly Payment
$12,368.636
Annual Cash Flow
$-68,423.631
