1125 Olive St - Apartments FOR SALE


Lakeland, FL 33815- City of Lakeland
$535,000 USD
813-387-4718
1125 Olive St, Lakeland, FL for Sale
$535,000 USD
Apartments - FOR SALE
1/8
null | 5.8% Cap Rate

1125 Olive St
Lakeland, FL 33815
City of Lakeland


HIGHLIGHTS

  • Attractive unit mix of two two-bedroom units and two one-bedroom units
  • Potential to develop an additional duplex on property
  • Located in Lakeland, which is ranked as the 2nd fastest-growing city in the nation (U.S. Census Bureau)
  • The 2030: Insight into Orlando’s Future Report projects a 24.2% population growth in Polk County by 2030
  • Lakeland’s cost of living is 8.1% lower than the U.S. average

OVERVIEW

A 4-unit multifamily property in Lakeland, FL. All units fully remodeled with new flooring, kitchen and bathrooms. Significant proven upside potential with a 32.95% increase in Effective Gross Income possible by end of Year Two through continued unit interior and common area improvements. Lakeland is home to the headquarters of supermarket chain, Publix, the largest employer, providing more than 8,000 jobs between its head office and warehouse/manufacturing facilities

FOR SALE DETAILS

PRICE

$535,000 USD

PRICE/SF

$223 USD /SF

# OF UNITS

4

PRICE/UNIT

$133,750

CAP RATE

5.8%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1947

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

RB-1

APN/PARCEL ID

23-28-24-112000-004150

ASK ABOUT THIS PROPERTY

Donald TurnerMarcus & MillichapMore Info
813-387-4718

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Donald TurnerMarcus & MillichapMore Info
813-387-4718

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