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37202 Majestic Oak Court

Dade City, FL 33525

– beds
– baths
18,592 sqft
~1 acre lot
$111 per sqft
1981 build
– on site

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21 Unit Majestic Court Apartments is a very attractive opportunity for an investor to acquire a turnkey product in a growing market with an 8% Cap rate. Recently renovated with HD Vinyl wood flooring throughout all living areas, tile in kitchen & baths, and granite counters. Only 7 minutes to Saint Leo University, 1 mile to vibrant downtown Dade City, and with dependable long-term Tenants. By 2020-end all units will be at full market rent, creating an exceptionally strong income stream. Property consists of twenty (20) 2 bedroom townhomes with 896sf and 1-1/2 baths, (1) 1 bedroom townhome with 672sf and 1 bath. There is an updated separate laundry facility on 1st floor. Well maintained, with white vinyl fencing throughout and a large open parking lot. Recently installed commercial play structure supplies a sense of community for the residents. Individually metered for water/sewer/electric, concrete block construction and new roof are just a few of the Value-Add items increasing the value to the investment. Current owner is willing to continue managing the complex making for an easy transition to new Owners. Current 2020 Pro Forma available to qualified parties. Property located in Dade City, within Pasco County.

Listing courtesy of STELLAR_MLS / PREMIER SOTHEBYS INTL REALTY

Last checked: Checking… • Last updated Apr 27, 2023 •

MLS# T3209966 —

The Building

Year Built:

1981
New Construction:

false
Construction Materials:

Block
Number Of Buildings:

2
Building Area Total:

18928
Roof:

Shingle
Security Features:

Closed Circuit Camera(s)

Interior

Furnished:

Unfurnished
Interior Features:

Kitchen/Family Room Combo
Flooring:

Carpet
Fireplace:

false

Room Dimensions

Living Area:

18592
Living Area Units:

Square Feet
Living Area Source:

Public Records

Location

Directions:

From Tampa 275 north to Dade city exit. Right on Route 52 for 14 approx miles. As you pass the high school on right bear right onto Coleman Ave. Drive 1/2 mile to Fort king road, make a left. Next street will be 17th street.
Latitude:

28.357507
Longitude:

-82.200652
Coordinates:

-82.200652, 28.357507

The Property

Parcel Number:

34-24-21-0000-09600-0000
Property Type:

Residential Income
Property Sub Type:

Multi-Family
Property Description:

Mid Rise
Lot Size Acres:

1.08
Lot Size Square Feet:

46937
Lot Size Dimensions:

285x246x350 appx
Lot Size Units:

Square Feet
Zoning:

ORS3
Exterior Features:

Sidewalk
Water Source:

Public
Total Acreage:

1 to less than 2
Flood Zone Code:

X
Flood Zone Panel:

12101C0280F
Homestead:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2018
Tax Block:

09600
Tax Book Number:

7-6
Tax Annual Amount:

19189
Tax Legal Description:

BEG NE COR SW1/4 OF NW1/4 TH WEST 350.00 FT TH SOUTH 300.00 FT TO CENTER DADE CITY SAN ANTONIO RD TH NELY ALG CENTER OF SAID RD TO POB LESS NORTH 25.00 FT THEREOF & LESS RD R/W FORT KING & COM NE COR OF SW1/4 OF NW1/4 TH S89DEG 48' 30"W 65.86 FT TO W LY R/W FORT KING HWY TH ALG ARC OF CURVE CONCAVE WLY 25.17 FT CHD BRG S06DEG 44'12"W 25.17 FT RAD 1854.86(Q1) FT TH CONT ALG SAID ARC CHD BRG S07DEG 14' 02"W 6.50 FT TO ITS INTERSEC- TION WITH NLY BDY OLD SAN ANTONIO RD FOR POB TH CONT ALG ARC CV CHD BRG S07DEG 14'02"W 0.16 FT TO PRC TH ALG REVERSE CURVE CHD BRG S06DEG 29'18"W 59.16 FT ARC DISTANCE 59.17 FT (Q2) RAD 1964.86 FT TO SLY BDY OF OLD SAN ANTONIO RD TH S49 DEG 47'00"W 270.55 FT TH N40 DEG 13'00"W 40.00 FT TH N49DEG 47'00"E 313.01 FT

The Listing

Special Listing Conditions:

None
Buyer's Brokerage Compensation:

2.5%-$295

Heating & Cooling

Heating:

Electric
Heating:

true
Cooling:

Central Air
Cooling:

true

Utilities

Utilities:

Cable Available
Sewer:

Public Sewer

Appliances

Appliances:

Electric Water Heater
Laundry Features:

Laundry Room

Schools

Elementary School:

Pasco Elementary School-PO
Middle Or Junior School:

Pasco Middle-PO
High School:

Pasco High-PO

The Community

Subdivision Name:

ACREAGE CODE DCCTLP-DCCTLP1
Senior Community:

false
Water View:

false
Water Access:

false
Waterfront:

false
Pool Private:

false
Pets Allowed:

Breed Restrictions
Pet Restrictions:

Breed Restictions
Number Of Pets:

1
Association Amenities:

Gated
Association:

false
Ownership:

Fee Simple

Parking

Garage:

false
Carport:

false
Open Parking:

true
Parking Features:

Common

Extra Units

Number Of Units Total:

21

Explore the Area

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Sale history

Date	Event	Source	Price	% Change
2/4/22 Feb 4, 2022		STELLAR_MLS	$3,000,000	-6.3%
11/22/21 Nov 22, 2021		STELLAR_MLS	$3,200,000	54.3% (30.9% / YR)
2/20/20 Feb 20, 2020	Sold	STELLAR_MLS	$2,074,000

Multifamily Sold on 2/20/2020

$2,074,000

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Listing Courtesy of: STELLAR_MLS and PREMIER SOTHEBYS INTL REALTY.

Based on information from the My Florida Regional MLS DBA Stellar MLS 2024.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Stellar MLS, Estately and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. Stellar MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. For any questions please call (407) 499-8911.

The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.

37202 Majestic Oak Court

Dade City, FL 33525