707 S Missouri Ave - Apartments FOR SALE


Lakeland, FL 33815- City of Lakeland
$800,000 USD
813-871-8524
707 S Missouri Ave, Lakeland, FL for Sale
$800,000 USD
Apartments - FOR SALE
1/16
null | 6.83% Cap Rate

707 S Missouri Ave
Lakeland, FL 33815
City of Lakeland


HIGHLIGHTS

  • Well-maintained property with tremendous character
  • Immediate upside potential by pushing rents to market rate
  • Half of the units are 2- bedroom or larger floorplans
  • Ample off-street parking

OVERVIEW

Missouri Flats is a 8-unit apartment community located in the most exclusive submarket of Lakeland, Florida in Polk County. The property sits on a 0.30-acre parcel only a short walk from lakes, parks, employers, restaurants and academic institutions. Each building consists of wood frame construction with all structures having been built in the 1910’s. Missouri Flats consists of 4 one-bedroom/one-bathroom, 2 two-bedroom/one-bathroom, 1 three-bedroom/one-bathroom and 1 three-bedroom/two-bathroom units averaging 550 square feet, 701 square feet, 850 square feet and 900 square feet respectively. Each building is unique with tremendous curb-appeal, recent renovations, historic charm and irreplaceable location. Residents enjoy the proximity to major roadways, an abundance of jobs and demand drivers giving them easy access to all the great things Lakeland and Central Florida has to offer. Publix has their corporate headquarters in Lakeland, Florida, and many other major companies that have a large presence in “Swan City” include Lakeland Regional Health, GEICO, City of Lakeland, Watson Clinic, FedEx, UPS, Walmart, Southeastern University, Florida Southern College and Amazon. Polk County is one of the top distribution hubs in the country and one of only a handful of markets in the U.S. within 3-hours drive to more than 20 million people which has led to an abundance of new jobs infiltrating the local market. Lakeland has a predicted 12.1% average income growth and 6.1% population growth between 2021-2026.

FOR SALE DETAILS

PRICE

$800,000 USD

PRICE/SF

$148 USD /SF

# OF UNITS

8

PRICE/UNIT

$100,000

CAP RATE

6.83%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Missouri Flats

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

-

APN/PARCEL ID

23-28-24-120000-002012

ASK ABOUT THIS PROPERTY

Miles TombrinkColliersMore Info
813-871-8524

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Miles TombrinkColliersMore Info
813-871-8524

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