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Mina Rickey

mina.rickey@engelvoelkers.com +1(727) 269-2271

$ 505,000

Est. payment -/mo

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1125 OLIVE ST Lakeland, FL 33815

6 Beds

4 Baths

2,400 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,400 sqft

Price per Sqft $210

Subdivision Lake Beulah Heights Div 02

MLS Listing ID TB8553595

Bedrooms 6

HOA Y/N No

Year Built 1947

Annual Tax Amount $4,640

Lot Size 0.400 Acres

Acres 0.4

Lot Dimensions 124x94

Property Sub-Type Quadruplex

Source Stellar MLS

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.

Location

State FL

County Polk

Community Lake Beulah Heights Div 02

Area 33815 - Lakeland

Zoning RB-1

Interior

Interior Features Ninguno

Heating Ductless

Cooling Wall/Window Unit(s)

Fireplace false

Laundry None, Washer Hookup

Exterior

Exterior Feature None

Utilities Available Public

View Y/N No

Water Access No

Roof Type Shingle

Garage false

Private Pool No

Building

Foundation Crawlspace, Slab

Lot Size Range 1/4 to less than 1/2

Sewer Public Sewer

Water Public

Structure Type Frame

New Construction false

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional, Other

Listing Terms Cash, Conventional, Other

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/TB8553595

Listed by Samuel Rudolph COLDWELL BANKER REALTY

NEARBY SCHOOLS & PROPERTIES

Mina Rickey

Advisor License ID: 260055498

+1(727) 269-2271

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