600 W Oak Terrace Drive
Leesburg, FL 34748
Map
- – beds
- 64 baths
- 39,524 sqft
- ~2 acre lot
- $164 per sqft
- 1980 build
- – on site
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!
Last checked:
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Last updated Jul 11, 2025
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MLS# G5099082 —
The Building
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Year Built:1980
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New Construction:false
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Construction Materials:Block
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Roof:Shingle
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Foundation Details:Slab
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# of Buildings:5
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Building Area Units:Square Feet
Interior
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Interior Features:Ceiling Fan(s)
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Fireplace:false
Room Dimensions
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Living Area:39524
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Living Area Units:Square Feet
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Living Area Source:Public Records
Location
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Directions:From 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.
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Latitude:28.819855
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Longitude:-81.877041
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Coordinates:-81.877041, 28.819855
The Property
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Parcel Number:231924110000000406
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Property Type:Residential Income
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Property Subtype:Multi Family
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Lot Size Acres:2.35
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Lot Size Area:2.35
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Lot Size SqFt:102366
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Lot Size Units:Acres
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Total Acres:2 to less than 5
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Zoning:R-2
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View:false
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Exterior Features:Irrigation System
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Water Source:Public
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Road Surface Type:Asphalt
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Flood Zone Code:X
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Flood Zone Panel:12069C0309E
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Additional Parcels:false
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Land Lease:false
Listing Agent
- Contact info:
- Agent phone:
- (407) 443-5491
- Office phone:
- (352) 326-2662
Taxes
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Tax Year:2024
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Tax Lot:4
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Tax Legal Description:LEESBURG 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
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Tax Book Number:1-75
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Tax Annual Amount:$7,979
Baths
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Total Baths:64
The Listing
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Virtual Tour URL Unbranded:https://www.propertypanorama.com/instaview/stellar/G5099082
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Special Listing Conditions:None
Heating & Cooling
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Heating:Central
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Heating:true
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Cooling:Central Air
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Cooling:true
Utilities
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Utilities:Public
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Sewer:Public Sewer
Appliances
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Laundry Features:Common Area
The Community
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Subdivision Name:LEESBURG N C LEE ESTATE
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Senior Community:false
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Waterview:false
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Water Access:false
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Waterfront:false
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Pool Private:false
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Association:false
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Ownership:Fee Simple
Parking
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Garage:false
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Carport:false
Extra Units
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# of Units Total:48
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
7/7/25
Jul 7, 2025
|
Listed / Active | STELLAR_MLS | $6,500,000 |
