LUCRATIVE 14 UNIT DEVELOPMENT OPPORTUNTY.
- 23522 sq ft of Vacant Land.
- $399,900 Investor Price.
- $22,400 per month/ $268,800 per year projected income.
This unique development opportunity offers tremendous value. Ocala is very fast-growing, with demand for housing outpacing supply. The City of Ocala supports development, making the permitting process fast and efficient.
This .54-acre parcel of land is entitled and engineered for a 2-story, 14-unit apartment building with a 21-car parking lot. As soon as closing on the property, we should be able to schedule a pre-construction meeting with the Engineering Department of the City of Ocala to get the site development portion completed. They have all the stamped site plans ready to be transferred at closing. The only thing needed to be able to obtain the building permit is a set of architectural MEP plans. These can be proactively worked on in conjunction with the site work.
The location could not be better. It is centrally located right in downtown Ocala where residents enjoy good food, shopping and rich history. These luxury 2-bedroom, 1-bathroom units will appeal to young families and professionals alike. With the addition of corporate giants such as Amazon, Chewy.com, Fed Ex, Autozone, and more, moving their distribution headquarters to Marion County, workforce housing is in extremely high demand. Proximity to Ocala's largest hospital, The AdventHealth Ocala, and other regional hospitals creates an additional exit strategy: renting out the units to traveling nurses on multi-month contracts will maximize rental value.
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