Zoocasa Realty Inc., Brokerage

125 N Davis Ln, Defuniak Springs, FL

Name: 125 N Davis Ln, For Sale in Defuniak Springs - Zoocasa
Brand: SVN Riviera Commercial
SKU: 795863
Price: 5195000 USD

House

For Sale

Listed price in listed location currency (USD).

$5,195,000

000

MLS® 795863

Overview

Key Facts

Type Multi Family

Levels Commercial Sale

Size -

Garage

Taxes

Days Active 40

Lot Size 4.34 Acres

Approx. Age 1984

MLS® Number 795863

Property Address: 125 N Davis Ln, DEFUNIAK SPRINGS, FL, 32433-3128

Average square foot calculated using Size range provided by listing agent.

Description

Riviera Place Apartments | DeFuniak Springs, Florida Introducing a stabilized multifamily investment opportunity in Northwest Florida. Riviera Place Apartments is a well-maintained, approximately 42, 000 SF, 55-unit garden-style apartment community offered at $5, 195, 000. The property combines strong current occupancy, recent capital improvements, and attractive existing debt. Most notably, the property has an assumable Freddie Mac first mortgage at a fixed 3.54% interest rate, subject to lender approval and assumption requirements. The loan originated March 24, 2022 with an original principal balance of $3, 120, 000, a 10-year term and 30-year amortization. Investment Highlights Asking Price: $5, 195, 000 55 Units NOI: $390, 465.64 Cap Rate: 7.51% 95%+ Occupancy Approximately 42, 000 SF Garden-style / single-story multifamily 3.54% fixed-rate assumable Freddie Mac financing Flood Zone X Significant recent capital improvements Metal roofs Low-maintenance hard-coat stucco exteriors On-site laundry and video monitoring/security system Additional rent-growth potential within the existing rent roll The latest rent roll reflects 96.4% occupancy, while the current T12 reports $605, 757.74 in total income and $390, 465.64 in NOI. Offering Memorandum, current T12, rent roll and loan documentation available upon request.

MLS® Number795863

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1984

Basement

Driveway

Garage Spaces

Heat

A/C

Extras

Map

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The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.

eXp Realty holds real estate brokerage licenses in multiple states. Zoocasa (Canada), Inc. holds real estate brokerage licenses in multiple provinces. For information on licenses please contact us at [email protected]

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