About 1000 E Caroline Street
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 Florida’s 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.
Features of 1000 E Caroline Street
| MLS® # | O6396568 |
|---|---|
| Price | $3,600,000 |
| Bedrooms | 40 |
| Bathrooms | 40.00 |
| Square Footage | 35,262 |
| Acres | 3.56 |
| Year Built | 1979 |
| Type | Residential Income |
| Sub-Type | Quadruplex |
| Status | Pending |
Listing Details
| Office | REMAX SUNSTATE REALTY |
|---|
Listing Map
Neighborhood Information for 1000 E Caroline Street
Moderate Residential Turnover
Statistics
Number of Listings
Population Age
Home Listings Prices
Nearby Schools
| Great Schools | School Name | Distance | |
|---|---|---|---|
|
Tavares Elementary School Public - Preschool to 5Th Grade - Closest Elementry School |
0 Miles | |
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Tavares High School Public - 9Th Grade to 12Th Grade - Closest High School |
1 Miles | |
|
Lake Virtual Franchise Public - 6Th Grade to 12Th Grade - Closest Middle School |
1 Miles | |
|
Nonschool Exceptional Education Public - Preschool to 12Th Grade |
1 Miles | |
|
|
Lake County Acer Program Public - 9Th Grade to 12Th Grade |
1 Miles | |
|
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Liberty Christian Prep Private - Preschool to 12Th Grade |
1 Miles | |
|
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Adventure Christian Academy Private - Kindergarten to 12Th Grade |
2 Miles |
School data provided by GreatSchools