River Garden Sweeting Estate, FL homes for sale & real estate

River Garden Sweeting Estate, FL Homes for Sale

Rare opportunity on rapidly developing Sistrunk Blvd. Drive Sistrunk: see surge of construction. 1/4 acre corner lot. 15 units can be built by right: Land has been entitled. Site plan for 15 large 1 bed/1 bath units. 7-9 of the units can possibly be 1 bed w/ dens or 2 bed. Permits have not been pulled. Use site plan, customize or design your own. Recently sold comps in area:$66.7k-$84.5k per unit for land. Active comps in area:$60k-$99k per unit for land. Subject property under $50k per unit; OVER $250k OFF market value. New 1 bed apts nearby rent:$1.6k-$2.3k. New 2 bed apts nearby rent:$2.4k-$3k. Construction cost $2.2M+/-. All in cost:$3M+/-. Value once built:$4M+/-. $1M+/- instant equity

River Garden Sweeting Estate, FL Homes for Sale

No HOA. The property is rented for $2,076 USD/month to a Section 8 tenant (as of December 2024, the government paid 100% of the rent, and the rent is on time). The rent may be increased to $2,520 USD (renewal date: July 31, 2025). The current management company can be facilitated. Please do not disturb the tenant or knock on the door! For primary residents: This property is uniquely qualified for a special program. My lender can offer you/your buyer 3% down, No mortgage insurance, & a lower rate. Reach out to see the affordability of this property.