Richards Apartments is a 49-unit multifamily community in Lake Placid, Fl. The property consists of 17 single-story garden style buildings situated on a total of 3.88 acres. The complex is located in the neighborhood between US27 and S. Main Avenue in Lake Placid. Occupancy is currently 90% with many long-term tenants. Six buildings have new metal roofs and 25% of the units have been remodeled with new kitchens and bathrooms. The properties have a mix of unit types from a 3 bedroom/2 bath home, 1 bedroom/1 bath apartments to several efficiency units. The sites are within close proximity of each other, facilitating easy maintenance. Three coin laundries strategically located add to the appeal and net income of the property. Property includes two build-able lots for additional apartments and added income. Purchase includes parcels: P-06-37-30-010-0050-0010 and P-06-37-30-040-0230-0010.