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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
Status
Active
Days on Market
1
MLS#
TB8553595
Property Style
Quadruplex
Year Built
1947
Bedrooms
6
Bathrooms
4
Living Area
2,400
Lot Size
17,362
Acres
0.40
Total Acreage
1/4 to less than 1/2
Legal Subdivision Name
Lake Beulah Heights Div 02
MLS Area Major
Lakeland
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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.

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Additional Information

Taxes
$4640
Annual Gross Income
52020
Community Features
No Deed Restriction
Zoning
RB-1
Interior Layout
Ninguno
Interior Features
Ninguno
Utilities
Public
Heating
Ductless
Air Conditioning
Wall/Window Unit(s)
Exterior Construction
Frame
Exterior Features
None
Roof
Shingle
Foundation
Crawlspace, Slab
Pool
No Pool
Flood Zone Code
X
Parcel ID
23-28-24-112000-004150
Legal Description
LAKE BEULAH HEIGHTS DIVISION NO 2 PB 6 PG 36 BLK D LOTS 15 & 16 LAKE BEULAH HEIGHTS DIVISION NO 2 PB 6 PG 36 BLK D LOT 14
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Listing courtesy of COLDWELL BANKER REALTY. 727-822-9111

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