100 NE 10th Ter - Multi-Family FOR SALE


Mulberry, FL 33860
$1,100,000 USD
863-581-0059
100 NE 10th Ter, Mulberry, FL for Sale
$1,100,000 USD
Multi-Family - FOR SALE
1/26
null | Request Cap Rate

100 NE 10th Ter
Mulberry, FL 33860


HIGHLIGHTS

  • 5 duplex style structures on almost an acre of land with 10 units. Tremendous upside - current under market rents can be raised.
  • All units are 2/1 traditional apartment and several of the units have been rehabbed. Great income opportunity, with proforma numbers around $150K.
  • 4 vacant units at present, as new management company gets situated, with some units also needing renovation. Zoned RL-4, Unincorporated Polk County.
  • Utility Providers - TECO for electric, water and sewer provided by the City of Mulberry. Tenants pay their own electric, Landlord pays water /sewer
  • Each structure has space for tenant parking. Central fenced trash receptacle on site, and there is a central mailbox area for the tenants.

OVERVIEW

PLEASE SEE ATTACHED PROPERTY BROCHURE FOR DETAILS. We are pleased to present this investment opportunity in Mulberry Florida, only 5 minutes from Lakeland. This is a 10-unit property offering tremendous value-add. The asset comprises five duplex buildings, all featuring traditional 2-bedroom, 1-bathroom units (a portion of which are fully renovated). The current vacancies, resulting from a recent management change and deferred maintenance, are a direct value-creation opportunity for a new owner. Several of the units have and continue to be rehabilitated. The buildings have all been pressure washed and the buildings sit on almost 1 acre. There is separate parking for each of the buildings, and the property has a central mailbox system. As for location, it has excellent connectivity via N Church Ave/SR 37 in Mulberry. State Road 60 runs east and west through the state, and SR 37 is also known as Florida Ave, which runs through Lakeland.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$550 USD /SF

# OF UNITS

10

PRICE/UNIT

$110,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

10 Unit - 5 Building Multifamily Property

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

RL-4

APN/PARCEL ID

23-30-01-000000-034010

ASK ABOUT THIS PROPERTY

Craig MorbySaunders Real EstateMore Info
863-581-0059

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Craig MorbySaunders Real EstateMore Info
863-581-0059

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.