1403 E Alfred St

• Year 1 Scheduled Income $374,400
• Assumable Loan
• Salt Water Swimming Pool
• Concrete Block Construction
• Remodeled Laundry Room On-Site
• Located Within Walking Distance to Downtown Tavares
• Located Near New Marina in Downtown Tavares

Property Description

100Units.com presents Tavadora Apartments which is a 24 unit multifamily complex. The property is constructed of concrete block with pitched shingle roofing, consisting of 5 one-story apartment buildings with a total of approximately 17,623 gross square feet and is situated on 1.27 acres. The unit mix is 15 studios, 6 one bedroom one bath units and 3 two bedroom one bath units. Landlord is responsible for utilities for studios; 1 and 2 BR tenants pay own utilities. The property features a salt water swimming pool, a newly remodeled laundry room with an Amazon Locker and ample parking for tenants. Ideally located just outside of downtown Tavares and close to Mount Dora. Section 8 HUD Fair Market FY 2024: Studio $1,558, 1/1 $1,638, 2/1 $1,857. There are no rent restrictions on this property; Section 8 rents are shown to demonstrate the upside in the current rents. Assumable Freddie Mac financing, Balance: $1,100,000, Interest rate 3.68% Fixed, Maturity Date: 10/1/2030, Amortization: 30 years, Servicer is KeyBank. Normal lender down payment requirements are 30-40%.