Property Description
Under contract-accepting backup offers. Exceptional opportunity to acquire Caroline Court, a 40-unit multifamily community in the heart of Tavares, offering immediate scale, stable occupancy, and the security of HUD-backed rental income. Situated on approximately 3.56 acres, this well-established apartment community consists of 8 residential buildings totaling approximately 32,000 square feet, with a desirable mix of 1-bedroom, 2-bedroom, and 3-bedroom floor plans. Built in 1979, the property has maintained strong performance with historically high occupancy and minimal vacancy, supported by consistent demand for affordable housing in the Tavares market. A major investment advantage is that the majority of rental income is HUD-supported, creating dependable cash flow and reducing collection volatility. The property also offers attractive resident amenities including on-site laundry facilities, maintenance area, and ample parking, further strengthening long-term tenant retention. Located near Downtown Tavares, the Seaplane City corridor, and major Lake County commuter routes, this asset is positioned within one of Central Floridas steadily growing workforce housing markets. Whether acquired as a standalone stabilized HUD asset or as part of a larger workforce housing strategy, this property offers a compelling combination of cash flow stability, scale, and long-term upside.This is a 40-unit asset and can also be sold as part of a larger 112-unit portfolio. Contact me directly for full portfolio details, pricing, and package information.