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1125 Olive Street, Lakeland, FL 33815

$505,000
6
BD
4
BA
2,400
SqFt
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List Price
$505,000
MLS#
TB8553595
Type
Multifamily
Bedrooms
6
Bathrooms
4
Living Area
2,400
Lot Size
17,362
Subdivision
Lake Beulah Heights Div 02
Year Built
1947
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(386) 960-0076

Property Description

8.3% CAP RATE IN PLACE, 9.3% ON PRO FORMA: FOUR UPDATED UNITS. This turnkey fourplex delivers day one cash flow with rent upside already built into the numbers. Two separate duplexes sit on a combined 0.40-acre lot (including 3 parcels). Building one is a 1947 duplex with 1,120 sq ft, and building two is a 1954 duplex with 1,280 sq ft. All four units have been updated, so the heavy lifting is done. Current operations produce an 8.3% cap rate, and bringing rents to market per the pro forma pushes returns to a 9.3% cap rate. Add value through rent increases and efficient management, not capital projects. Four doors, two buildings, one lot, and a clear path to higher NOI. Request the rent roll and financials today.

(386) 960-0076
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Additional Information

Community Features
No Deed Restriction
Annual Gross
52020
Style
Quadruplex
Interior
Ninguno
Interior Features
Ninguno
Exterior Construction
Frame
Exterior
None
Roof
Shingle
Utilities
Public
Heating
Ductless
Cooling
Wall/Window Unit(s)
Pool Type
No Pool
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Listing courtesy of COLDWELL BANKER REALTY.

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