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1502 High StreetLeesburg, FL 34748

LEESBURG ARCHBELL SUB · Lake County

$389,000List price
11,363Sq Ft
1910Year built
0.66Acre lot
2Stories
13 days agoOn market

Description

Exceptional value-add opportunity in Leesburg with the potential to transform this nine-unit property into a fully renovated 10-unit multifamily community. Located in a growing Central Florida market with continued demand for rental housing, this property offers significant upside for an experienced investor, developer, or nonprofit organization looking to create quality, affordable housing. The property will require a substantial renovation to reach its full potential. Based on a recent estimate obtained from one of the seller’s contractors, approximately $600,000 in repairs and improvements should be anticipated. Renovations may include roofing, building systems, general repairs and maintenance, interior and exterior improvements, updated floor plans, and modernization of the individual units. Once renovated and stabilized, the property has an estimated After-Repair Value (ARV) of approximately $1.8 million, creating a compelling opportunity for an investor willing to complete the necessary improvements. This property may also be particularly attractive to a nonprofit or affordable-housing organization seeking an opportunity to provide safe, comfortable, and reasonably priced housing for up to 10 families. With the right renovation plan and ownership structure, the property could serve both an important community need and a long-term investment objective. For buyers looking for a project with substantial value-add potential, multiple units, and a clear repositioning strategy, this Leesburg property deserves serious consideration.

Property Information

Property type
Commercial Sale
Year built
1910
Stories
2
Living area
10,883 Sq Ft
Lot size
0.66 acres
Lot dimensions
140x199
Ownership
Fee Simple
Zoning
R-2
Days on market
13
MLS® Listing#
A4706558

Property Features

Cooling
None
Heating
None
Flooring
Other
Basement
Crawl Space
Construction
Frame · Wood Siding

Financial Details

Annual taxes
$5,305Tax year 2025
Parcel number
27-19-24-0200-002-01100

Directions

From I 75 go east of Hwy 44 to north on S 14th St to west on High St. Property will be on the north side of High St.

Listing Courtesy: WAGNER REALTY - 941-727-2800

Listings courtesy of Stellar MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided for consumers? personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright ©2026 MLS GRID. All Rights Reserved.

Last Updated: 2026-09-16

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