The Flats at Osprey Circle

Colliers is pleased to present The Flats at Osprey Circle; A 12-unit apartment complex located in Saint Augustine, FL. The property is comprised of 3 quadplexes on separate parcels zoned residential. Each building is comprised of a 540 SQ/FT 1BR/1BA apartment with separately metered utilities and in unit washer and dryer stacks. The property has undergone extensive Cap-Ex including new HVACs, windows, electrical panels, tankless water heaters, and new plumbing. Owner has also done extensive interior renovations including; LVP flooring, quartz countertops, stackable washer/dryers and new appliances and fixtures. 6 units remain in classic condition with materials included in the sale to renovate units and achieve market rents.

The Flats at Osprey Circle is located in Saint Johns County, one of the fastest growing counties in the state of Florida. According to the U.S. Census Bureau, Saint Johns County was the fastest growing county in the state between 2020-2022, growing 12.2% in that time period and ranking 8th nationally. The property is convenient to major demand drivers including Flagler College and historic Downtown Saint Augustine, a popular tourist destination and “America’s oldest city”. New ownership will have the ability to continue current ownerships proven value-add business plan by utilizing the materials already supplied by current ownership to renovate outdated units with modern finishes and raise rents to market.