Crystal River Apartments – Closed on June 8, 2018

Crystal River Apartments – Closed on June 8, 2018

Price: $ 1,550,000

Total Number of Units: 32

Address: 8570 Southeast Mayo Drive, Crystal River, FL 34429, United States

  • Highly Desirable 1980s Vintage Construction
  • Heavily Renovated Interiors with Individually Sub-metered Buildings
  • Opportunity to Gain Significant Market Share in the Citrus River Market
  • Ability to Achieve a Year One Cap Rate of 10.75% (28.91% Cash-On-Cash Return)
  • Current Average Effective Rents are 15% Below Current Market Rents
  • Recapture 133% of Initial Down Payment within Four Years

Lead Agent(s): Benjamin N. Skinner

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Location Highlights

  • Less Than Twenty Minutes from Crystal River Power Plant (2,000+ Jobs)
  • Just Over 9,000 Jobs within a Ten Mile Radius

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