This fully renovated 4-unit multifamily property in the heart of Apopka is a turnkey investment offering strong cash flow and long-term upside. All four units are fully occupied, generating a gross monthly rent of $7,125, plus an additional $100 per month from on-site laundry machine rentals. The current cap rate is 7.03%, with a projected increase to 7.91% by year five. A five-year pro forma estimates total profit at $253k with an 97% return on investment at the current purchase price. Recent upgrades include a new permitted roof installed in 2017, new water heaters, new electrical panels, and central air units installed in 2020, 2020, 2016, and 2011—all recently serviced and in excellent condition. The property features two fully permitted septic systems, with one drain field replaced in 2021 and the other in 2024. Each unit has been modernized with granite countertops, gray shaker cabinets, black fixtures, new blinds, updated bathrooms, and luxury waterproof wood plank flooring with a lifetime warranty. Stainless steel appliances and fresh interior paint complete the high-end finish. Each unit includes laundry hookups, private patios, and spacious backyards. The exterior has been refreshed with new exterior paint and a newly resealed parking lot. Annual gross income is currently $84k. Additional value-add opportunities include backyard storage units or expanded laundry rentals to increase revenue. Insurance quote available in broker documents is $6,587 per year. Rent roll, 5 year pro-forma, and an insurance quote are attached in documents section. Please do not disturb the tenants. Interior Showings available only after under contract.
Pending
$839,000
1236 Dovehill Dr, Apopka, FL 32703
8beds
8baths
3,587sqft
Est.:
Quadruplex, Multi Family
Built in 1984
-- sqft lot
$792,200 Zestimate®
$234/sqft
$-- HOA
What's special
Private patiosFresh interior paintSpacious backyardsNewly resealed parking lotLaundry hookupsBlack fixturesUpdated bathrooms
- 50 days
- on Zillow |
- 251 |
- 16 |
Zillow last checked: 7 hours ago
Listing updated: July 28, 2025 at 10:26am
Listing Provided by:
Laura Auten 561-427-3923,
ELEVATE REALTY LLC 561-427-3923
Source: Stellar MLS,MLS#: A4646391
Originating MLS: Sarasota - Manatee

Travel times
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 8
Heating
- Electric, Other
Cooling
- Central Air
Appliances
- Included: Dishwasher, Freezer, Microwave, Range, Refrigerator
- Laundry: Electric Dryer Hookup, Laundry Closet, Laundry Room, Washer Hookup
Features
- Other
- Flooring: Luxury Vinyl, Vinyl
- Doors: Sliding Doors
- Windows: Window Treatments
- Has fireplace: No
Interior area
- Total structure area: 4,021
- Total interior livable area: 3,587 sqft
Video & virtual tour
Property
Features
- Patio & porch: Covered, Patio, Rear Porch
- Exterior features: Other
Lot
- Size: 0.35 Acres
Details
- Parcel number: 112128214900050
- Zoning: R-2
- Special conditions: None
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex, Multi Family
Materials
- Stucco
- Foundation: Slab
- Roof: Shingle
Condition
- New construction: No
- Year built: 1984
Utilities & green energy
- Sewer: Septic Tank
- Water: Public
- Utilities for property: Electricity Connected, Other, Water Connected
Community & HOA
Community
- Subdivision: DOVEHILL
HOA
- Has HOA: No
- Pet fee: $0 monthly
Location
- Region: Apopka
Financial & listing details
- Price per square foot: $234/sqft
- Tax assessed value: $468,978
- Annual tax amount: $8,737
- Date on market: 3/27/2025
- Listing terms: Cash,Conventional,VA Loan
- Ownership: Fee Simple
- Lease term: 12 Months
- Total actual rent: 7125
- Tenant pays: Electricity, Trash Collection, Water
- Electric utility on property: Yes
- Road surface type: Asphalt, Other
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