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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.
Property Highlights
Property Type: Multi Unit - Multiple
Cooling: Wall/Window Unit(s)
Heating: Ductless
Lot Size: 0.40 Acres
Roof Type: Shingle
Taxes: $4,640
Year Built: 1947
General Information
Bedrooms: 6
Sqft: 2,400
County: Polk
Subdivision: LAKE BEULAH HEIGHTS DIV 02
Listed By:
Samuel Rudolph
COLDWELL BANKER REALTY
727-822-9111
MLS ID: TB8553595
Amenities
Ninguno
None
Property Features
Annual Net Income: 42075.00
Days on Site: 2
Directions: sikes blvd to s central ave to right on olive. 1125 on the left.
Exterior: Frame
Flood Zone Code: X
Foundation: Crawlspace, Slab
Home Warranty Y/N: No
Listing Terms: Cash, Conventional, Other
Lot Dimensions: 0.4
Other Equipment: None
Ownership: Fee Simple
Property Attached Y/N: No
Property Sub-Type: Quadruplex
Sewer: Public Sewer
Showing Instructions: Appointment Only, Call Listing Agent, ShowingTime
Special Sale Provisions: None
Utilities: Public
Water: Public
Water Access Y/N: No
Zoning: RB-1
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1125 Olive Street , Lakeland, FL 33815.
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Estimated Payment
$ 2,237.24 per month $1,703.28 Principal & Interest $386.67 Property Tax $147.29 Homeowner's InsuranceChange Payment Information
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