1236 DOVEHILL DRIVE

APOPKA, FL 32703

This fully renovated 4-unit multifamily property in the heart of Apopka is a turnkey investment offering strong cash flow and long-term upside. All four units are fully occupied, generating a gross monthly rent of $7,125, plus an additional $100 per month from on-site laundry machine rentals. The current cap rate is 7.03%, with a projected increase to 7.91% by year five. A five-year pro forma estimates total profit at $253k with an 97% return on investment at the current purchase price. Recent upgrades include a new permitted roof installed in 2017, new water heaters, new electrical panels, and central air units installed in 2020, 2020, 2016, and 2011—all recently serviced and in excellent condition. The property features two fully permitted septic systems, with one drain field replaced in 2021 and the other in 2024. Each unit has been modernized with granite countertops, gray shaker cabinets, black fixtures, new blinds, updated bathrooms, and luxury waterproof wood plank flooring with a lifetime warranty. Stainless steel appliances and fresh interior paint complete the high-end finish. Each unit includes laundry hookups, private patios, and spacious backyards. The exterior has been refreshed with new exterior paint and a newly resealed parking lot. Annual gross income is currently $84k. Additional value-add opportunities include backyard storage units or expanded laundry rentals to increase revenue. Insurance quote available in broker documents is $6,587 per year. Rent roll, 5 year pro-forma, and an insurance quote are attached in documents section. Please do not disturb the tenants. Interior Showings available only after under contract.

Listing courtesy of ELEVATE REALTY LLC 5614273923



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Last checked: 2025-07-02 05:25 PM EDT