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$565,000
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Property Description
Neely Drive Portfolio is a six-unit multifamily property located at 1318, 1325, 1324 and 1330 Neely Drive in Leesburg, Florida. Situated on 4.43 acres, the portfolio includes six single-story buildings totaling 4,618 square feet. Built between 1942 and 1956, the property features a low-density layout with a strong land-to-unit ratio and potential for future development or expansion. All units are individually metered for electric and water. The buildings are wood frame construction with shingle roofs. Three units have window A/C units, 2 units have mini-split A/C units and 1 unit has Central A/C. All roofs have been replaced within the last two years, reducing long-term capital expense exposure. Three of the six units located at 1318, 1320, and 1324 Neely Drive have been recently renovated, providing updated interiors and minimizing immediate maintenance needs. Located in Lake County, one of the fastest-growing regions in Central Florida, Leesburg offers a mix of affordability and access to major economic centers. The area benefits from consistent population growth, a strengthening rental market, and proximity to employment hubs throughout the Orlando metro area. The Neely Drive Portfolio offers a compelling opportunity for investors seeking a stable asset with long-term upside in a growing Florida market.
Full Property Details
Full Property Details for 1318 Neely Dr
General
- Sold For: $565,000
- Taxes: $1,581 (2024)
- Status: Closed
- Type: Multi-Family
- Source: MidFloridaRegionalMLS
- MLS ID: TB8416432
- Added to Site: 204 day(s) ago
Interior
- Interior Features: Ninguno
Rooms
Bathrooms
- Total Bathrooms: 8
Bedrooms
- Total Bedrooms: 14
Exterior
- Exterior Features: Other
Location
- Area: 34748 - Leesburg
- County: Lake
- Development Name: 34748 - Leesburg
- Subdivision: X
- Driving Directions: Drive east bound on Hwy 44. Take a right on Lucas St, then a right on Neely Dr and property will be on the left.
Community
- Community Name: 34748 - Leesburg
Heating & Cooling
- Cooling Type: Mini-Split Unit(s), Wall/Window Unit(s)
- Heating Type: Wall Units / Window Unit
Utilities
- Sewer: Septic Tank
- Water: Public
- Utility Description: Electricity Connected, Water Connected
Structural Information
- # Buildings: 7
- Exterior Const.: Wood Frame
- Roof: Shingle
- Square Feet: 4,618
- Sq. Ft. Source: Estimated
- Living Area: 4,618 Sq. Ft.
- Year Built: 1946
Lot Features
- Lot Size (Acres): 4.43
- Lot Size (Sq. Ft.): 192,970
- Lot Size: 4.43
- Street/Road Desc.: Asphalt
Financial Considerations
- Tax Amount: $1,581.16
- Tax Year: 2024
Disclosures and Reports
- Ownership: Fee Simple
- Special Conditions: None
- Legal Description: N 220 FT OF E 1/2 OF NE 1/4 OF NE 1/4 OF NW 1/4--LESS N 40 FT & LESS W 40 FT & LESS BEG S LINE OF N 40 FT WITH E LINE OF W 40 FT INTERSCT RUN E 30 FT TO A PT DESIGNATED PT A BEG AGAIN AT POB RUN S 30 FT NE'LY TO PT A-- ORB 5725 PG 1020
- Flood Zone Info: X
- APN: 341924000200003100
- Property ID: 341924000200003100
Listed by Florida Realty Investments
Sold by Stellar Non-Member Office
Get Pre-Approved Today
Schools
Schools serving 1318 Neely Dr
School District:Lake County School District
| Name | Grades | Distance |
|---|---|---|
Leesburg Elementary School 2229 South Street, Leesburg, FL 34748 | PK-5 | 0.2 mi |
Oak Park Middle School 2101 South Street, Leesburg, FL 34748 | 6-8 | 0.2 mi |
Leesburg High School 1401 Yellow Jacket Way, Leesburg, FL 34748 | 9-12 | 0.6 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1318 Neely Dr
Date
Details
Price
Change
Source
12/22/2025
Sold
$565,000
-13.08%
MLS
9/10/2025
Price Reduced
$650,000
-7.14%
MLS
8/11/2025
Listed
$700,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1318 Neely Drive, Leesburg, FL 34748 (MLS# TB8416432) is a Multi-Family property that was sold at $565,000 on December 22, 2025. Want to learn more about 1318 Neely Drive? Do you have questions about finding other Multi-Family real estate for sale in Leesburg? You can browse all Leesburg real estate or contact a Coldwell Banker agent to request more information.

