LEESBURG, FL 34748 600 W OAK TERRACE DRIVE

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Presented By: CARLINO REAL ESTATE GROUP INC with 352-326-2662. - 352-326-2662
  • MLS# G5099082
  • 07/08/2025
  • Request Tour
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Disclaimer: The information contained in this listing has not been verified by Homepride Group at EXP Realty and should be verified by the buyer.
  • Baths • 64
  • SQFT • 39,524

Home Details

This 48-unit apartment complex offers a turn-key solution for investors seeking a stable income stream with a single tenant that ensures minimal management effort. The entire property is leased by an accredited private 4-year college founded in 1989. With students from across the country and internationally, the college's continued growth and established reputation ensures a strong and reliable tenant, making this a truly hands-off investment. Residents enjoy modern living spaces with updated vinyl flooring and recently updated kitchens and bathrooms in most units. One of the standout features of this property is its stunning Outdoor Oasis courtyard. This inviting outdoor space includes brick walkways, spacious patios, two huge gazebos, and a charming brick fireplace, perfect for gatherings or relaxation. Beautiful stone flower beds, new palm trees, and fresh sod create a serene environment, all maintained by an efficient irrigation system. Other Amenities included an on-site laundry facility and management office, electronic locks on all apartments, and plenty of parking. Other recent major updates include roof replacement on all the building in 2020, robust gutter and drainage system, exterior lighting, security cameras and gates, and the majority of the HVAC systems have been replaced within the last five years. The property location is a significant asset, benefiting from its proximity to historic downtown Leesburg where residents can enjoy local restaurants, shops, and Ski Beach/Venetian Park on Lake Harris. It's also conveniently situated approximately 56 miles from Orlando International Airport and within a two-hour drive of stunning beaches on both the Atlantic and Gulf coasts. Leesburg, FL, has seen significant growth in recent years, with several large employers near this property increasing the demand for affordable housing in the area. AN ADDITIONAL 2.68-ACRE ADJACENT PARCEL that offers the opportunity to possibly build up to an additional 48 units is also available. (MLS # G5099161) This is an opportunity not to be missed—call today for more information!
Presented By: CARLINO REAL ESTATE GROUP INC with 352-326-2662. - 352-326-2662

Interior Features for 600 W OAK TERRACE DRIVE

Bedrooms

Total Bedrooms

Bathrooms

Total Baths64

Other Interior Features

LivingAreaSourcepublic records
Air Conditioning Y/NYes
Fireplace Y/NNo
Heating Y/NYes
Interior Amenitiesceiling fan(s)
Laundry Featurescommon area

General for 600 W OAK TERRACE DRIVE

Additional Parcels Y/NNo
Building Area Unitssquare feet
Carport Y/NNo
Cityleesburg
Construction Materialsblock
Coolingcentral air
Countylake
Directionsfrom the turnpike head north on hwy 27, turn right on dixie ave, left on n canal st, left on hwy 441, right on 3rd st, and a left on oak terrace dr.
Flood Zone Codex
Flood Zone Code XY
Garage Y/NNo
Gross Income470000
HOANo
Heatingcentral
Land Lease Y/NNo
Legal Descriptionleesburg n c lee estate n 275 ft of e 402.05 ft of w 912.05 ft of lot 4--less e 30 ft--pb 1 pg 75 orb 4528 pg 373
Listing Termscash, conventional
Living Area Unitssquare feet
Lot Size Square Feet102366
Lot Size Unitsacres
MLS Area34748 - leesburg
ModificationTimestamp2025-07-22t21:30:22.627z
New ConstructionNo
Number Of Units Total48
Ownershipfee simple
Property Subtypemulti family
Property Typeresidential income
Roofshingle
Senior Community Y/NNo
Sewerpublic sewer
Standard Statusactive
Statusactive
Subdivision Nameleesburg n c lee estate
Tax Annual Amount7979
Tax Lot4
Tax Year2024
Tenant Payselectricity, gas, sewer, trash collection, water
Utilitiespublic
Virtual TourClick here
Water Access Y/NNo
Water View Y/NNo
Year Built1980
Zoningr-2

Exterior for 600 W OAK TERRACE DRIVE

Exterior Amenitiesirrigation system, lighting, rain gutters
Foundation Detailsslab
Lot Size Acres2.35
Lot Size Area2.35
Number of Buildings5
Private PoolNo
Road Surface Typeasphalt
Water Sourcepublic
Waterfront Y/NNo

Additional Details

Price History

Steven Pugh

Broker Associate | Team Leader
Price $6,500,000
MLS#G5099082
List Date 07/08/2025
Property Type Income
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