Property Description

5 INCOME DUPLEX with 10 TOTAL UNITS, almost 2 ACRES OF LAND, in the GREAT COMMUNITY of FOREST PINE ESTATES! This profitable rental property is fully leased and will have raised rent rates on January 1st, 2023. All units have a Range, Refrigerator, and Microwave along with central air conditioning. Tenants are responsible for electricity, general maintenance, and water. Three of the five duplexes were built in 2015. Even more, the two duplexes built in 1985 have newer METAL ROOFS plus the vacant land behind the 2 duplexes is cleared and is perfectly buildable land. Both properties are in excellent condition with city water, but NO CITY TAXES. The property is close to great schools, and near town with the best shopping and entertainment that Arcadia has to offer. A full breakdown of property tax, insurance, and income is attached to the listing! This property currently has almost a 6% cap rate. New Rent Rates in 2023 have been agreed upon by tenants and will have a new cap rate of almost 8%. This is a PHENOMENAL INVESTMENT OPPORTUNITY! Schedule your showing today!

Features
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Address Map
CHERRY
1956
DRIVE
0
W82° 9' 20.8''
N27° 12' 2.3''
Additional Information
Memorial Elementary School
DeSoto Middle School
DeSoto County High School
0
85,377 Sqft
1
2
0
RMF-M
06-38-25-0120-00G0-0030
Duplex
2021
$5,134
MFR274507256
10
SE
10

Residential Income For Sale

1956 CHERRY DRIVE, ARCADIA, Florida 34266

26 Bedrooms
0 Bathrooms
1,875 Sqft
$2,400,000
Listing ID #MFRC7467851
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : MFRC7467851
Price : $2,400,000
Bedrooms : 26
Bathrooms : 0
Square Footage : 1,875 Sqft
Year Built : 1985
Lot Area : 1.96 Acre
Country : US
State : Florida
County : DeSoto
City : ARCADIA
Subdivision : FOREST PINE ESTATES
Zipcode : 34266
Status : Active
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