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Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Dinner Lake Sub
MLS Listing ID L4960093
HOA Fees $395/mo
HOA Y/N Yes
Annual Recurring Fee 4740.0
Annual Tax Amount $4,828
Lot Size 5.000 Acres
Acres 5.0
Lot Dimensions 236x500
Property Sub-Type Multi Family
Source Stellar MLS
Property Description
The Oasis Townhomes on Dinner Lake are well underway with three units already completed and issued Certificates of Occupancy. Capitalize on the work already completed and pick up where the previous builder left off. Over $4 million has already been invested in infrastructure, including roads, underground electric, irrigation, lift station, and central water and sewer extended to individual lots—ready for construction of 17 additional units.
The completed units are AMAZING! Featuring a unique three-story design, the floorplan is perfect for a blended family while still providing a sense of privacy and separation of space.
The main floor includes the garage, kitchen, laundry, living room with 20-foot soaring ceilings, balcony, and lakeview primary suite.
On the basement level you will find a bedroom, bathroom, and living space with walk-out doors leading to a screened porch, creating the perfect place to enjoy your morning coffee while taking in the beautiful lake views.
Upstairs offers two additional bedrooms, a bathroom, and an open loft area ideal for an office, game room, or additional living space.
These units feature granite countertops throughout, staggered cabinetry, rounded corners, crown molding, upgraded fixtures, and more. Units 1936 and 1938 showcase the popular modern grey and white color scheme with chrome and silver accents, while Unit 1942 offers a more traditional style with oak cabinetry and warm brown and beige tones accented with bronze and iron finishes.
The roof system provides the appearance of barrel tile but is actually metal, and came with a 60-year warranty when installed.
The development sits on 2.5 acres with over 210 feet of frontage on beautiful Dinner Lake.
The adjoining 2.5 acres may also be included for $2.9M total purchase price and was originally slated for Phase II of the development. This parcel features beautiful sandy beaches and offers the potential for up to 31 additional units to be designed by the new owner, or could be developed into community amenities such as a clubhouse, pool, and common areas for the HOA.
The townhome documents and association corporation have already been formed and approved by the state, and will be transferred to the new owner. Set the fees and rules as the development evolves.
This is a perfect scenario for an investor or developer. Build out the remaining units, sell them individually, and retain long-term residual income through HOA management and fees for years to come.
If you'd like, I can also create a much more aggressive “commercial broker” version (about 25% shorter but even more powerful) that tends to generate more calls from developers scanning MLS listings.
Location
State FL
County Highlands
Community Dinner Lake Sub
Area 33870 - Sebring
Zoning R3
Exterior
Utilities Available Cable Available, Cable Connected, Electricity Available, Mini Sewer, Phone Available, Public, Sewer Connected, Water Available, Water Connected
Waterfront Description Lake Front
View Y/N Yes
Water Access Yes
Water Access Desc Lake
View Water
Building
Lot Description Cleared, Compact Soil, Filled, City Limits, Landscaped, Paved, Private
Lot Size Range 5 to less than 10
Sewer Public Sewer
Water Public
Others
Pets Allowed Yes
Ownership Other
Monthly Total Fees $395
Acceptable Financing Cash, Conventional
Membership Fee Required Required
Listing Terms Cash, Conventional
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/L4960093
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