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$1,585,000 Just Listed

  • For Sale
  • Active
  • Commercial
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Short Sale. Investor Opportunity in Crystal River - 19 Unit Apartment Complex Rare redevelopment opportunity in the heart of Crystal River. This 19-unit apartment building offers incredible potential for investors, developers, or builders looking to capitalize on the growing demand for housing in this highly desirable Gulf Coast community. The property sustained significant hurricane damage and is being sold as-is, presenting a prime chance to renovate, rebuild, or reimagine the site to maximize its income potential. Situated in an area known for its natural beauty, tourism, and waterfront lifestyle, the location continues to attract residents, seasonal visitors, and long-term tenants alike. With strong rental demand in Citrus County and limited multifamily inventory, this property provides the opportunity to restore a 19-unit income-producing asset or redevelop the site entirely. Conveniently located near local shops, dining, marinas, and the famous springs and outdoor attractions that make Crystal River such a sought-after destination. Property consists of (2) 7 PLEXES, (2) DUPLEXES, (1) SFR

Full Property Details for 740 NE 5th Ave

General

  • Price: $1,585,000
  • Taxes: $9,139 (2025)
  • Status: Active
  • Type: Commercial
  • Source: MidFloridaRegionalMLS
  • MLS ID: W7883744
  • Updated: 3/10/2026
  • Added to Site: 6 day(s) ago

Rental Information

  • Complex Features: Bathrooms

Parking

  • Parking Features: Common

Location

  • Area: 34428 - Crystal River
  • County: Citrus
  • Development Name: 34428 - Crystal River
  • Subdivision: CRYSTAL PARK
  • Driving Directions: US 19 N to Crystal River. Right on NE Third Ave. Right on NE Crystal St. Right in NE 5th Ave. Properties are on the Right.

Community

  • Community Name: 34428 - Crystal River

Heating & Cooling

  • Cooling Type: Central Air
  • Heating Type: Central

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • Utility Description: Electricity Available, Water Nearby

Structural Information

  • # Buildings: 4
  • Exterior Const.: Block
  • Roof: Shingle
  • Square Feet: 20,648
  • Sq. Ft. Source: Public Records
  • Year Built: 1972

Lot Features

  • Lot Size (Acres): 1.03
  • Lot Size (Sq. Ft.): 44,711
  • Lot Size: 1.0264
  • Lot Dimensions: 100 x 182
  • Frontage: City Street
  • Street/Road Desc.: Asphalt

Financial Considerations

  • Tax Amount: $9,139.54
  • Tax Year: 2025

Disclosures and Reports

  • Ownership: Corporation
  • Special Conditions: Short Sale
  • Legal Description: CRYSTAL TERRACE CONDO AKA TOWNSITE OF CRYSTAL PARK LOTS 35 36 37 38 & 39
  • Flood Zone Info: AE
  • APN: 17E18S210010000000350
  • Property ID: 17E18S210010000000350

Listed by Premiere Properties

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— 740 NE 5th Ave —

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NMLS#: 1598647

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Schools serving 740 NE 5th Ave

School District:Citrus County School District
NameGradesDistance
Crystal River Primary School
8624 West Crystal Street, Crystal River, FL 34428
PK-50.5 mi
Crystal River High School
3195 Crystal River High Drive, Crystal River, FL 34428
8-120.5 mi
Citrus Virtual Instruction Program
1007 West Main Street, Inverness, FL 34450
K-1215.4 mi
Crystal River Middle School
344 Northeast Crystal Street, Crystal River, FL 34428
6-80.1 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 740 NE 5th Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/09/2026
Listed
$1,585,000
-30.02%
MLS
5/18/2023
Sold
$2,265,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 740 NE 5th Ave

Year
Property Taxes
Change
Tax Assessment
Change
2025
$9,140
-12%
$438,520
-12%
2024
$10,431
-29%
$500,450
-28%
2023
$14,622
35%
$696,760
30%
2021
$10,847
-11%
$535,260
-12%
2022
$12,154
12%
$610,720
29%
2021
$10,847
22%
$473,370
—
2019
$8,919
5%
$472,990
5%
2018
$8,521
-2%
$449,950
—
2017
$8,652
-1%
$448,670
—
2016
$8,745
-2%
$446,880
—
2015
$8,886
-2%
$444,850
—
2014
$9,108
1%
$445,655
—
2013
$8,998
—
$444,262
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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740 NE 5th Avenue, Crystal River, FL 34428 (MLS# W7883744) is a Commercial property. 740 NE 5th Avenue is currently listed for $1,585,000 and was received on March 09, 2026. Want to learn more about 740 NE 5th Avenue? Do you have questions about finding other Commercial real estate for sale in Crystal River? You can browse all Crystal River real estate or contact a Coldwell Banker agent to request more information.

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