Sunset Villas
Closed9910 Aquarius Dr, Port Richey, FL 34668
Property type
Multifamily
Unit / Space count
13
Price
$1,350,000
Building size
10,540 sf
Rentable area
10,540 SF
Year built
1982
Year renovated
Occupancy
Zoning code
Lot size
1.04 Acres
Sold/status
Sold · Date unknown
Sale price
$1350000
Bedroom count
Property description
Sunset Villas is a well maintained waterfront multifamily property consisting of 13 units; located in Port Richey, FL in Pasco County. The 10,540 SF property is comprised of 3, single story buildings constructed in 1982, and features wood frame construction with pitched shingle roofs. The unit mix consists of spacious layouts with 85% two bedroom split floor plans, and washers & dryers in all units. Sunset Villas offers an attractive value-add opportunity through select interior and exterior improvements. An investor could achieve $290+ in average monthly rental upside, per unit, through light value-add interior renovations. The property has an excellent waterfront location, giving an investor the ability to add a variety of outdoor lifestyle amenities including a dock, kayaks or grilling areas. Sunset Villas is located at the southern tip of Florida’s “Nature Coast,” and is surrounded by over 4,000 acres of conservation and wildlife. The property is also in close proximity to national retailers including Publix Supermarket (2.5 Mi), Walmart Supercenter (2.2 Mi), Starbucks (1.0 Mi), Home Depot (0.6 Mi), and the Gulf View Square Mall (0.8 Mi). Sunset Villas Apartments offers an investor the opportunity to acquire a well maintained, waterfront asset with historically strong occupancy in close proximity to national retailers, the Gulf of Mexico, and acres of conservation. The property has proven value-add potential with the ability to modernize interiors & exteriors and increase rents to market.
Property highlights
- 13 Unit Multifamily Community Built in 1982
- Highly Desirable Single Story Villa-Style Architecture with Private Patios
- Spacious Layouts with 85% Two Bedroom Split Floor Plans, and Washer/Dryer In All Units
- Excellent Waterfront Location with Opportunity to Add Outdoor Lifestyle Amenities Including Dock, Kayaks, and Grilling Area
- Significant Rental Upside with Over $290+ in Average Monthly Rental Upside, Through Light Value-Add Interior Renovations
- Ability to Implement Utility Reimbursement Program to Recapture $7K in Additional Revenue
- Well Maintained Property by Long Term 25+ Year Ownership with Major Capital Improvements in Past 3 Years
- Residents Enjoy Ample Parking with 2.6 Spaces Per Unit
- Located at the Southern tip of Florida’s “Nature Coast,” an Ecotourism Destination with Over 1,000,000 Acres of Preserved Natural Habitat
- Adjacent to Land Owned by Florida’s Audubon Society, a Conservation Organization Advocating for Florida’s Ecosystem, Specifically Protecting Florida’s Land, Water, & Birdlife