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100 NE 10th Ter - 10 Unit - 5 Building Multifamily Property 10 Unit Apartment Building Offered at $1,100,000 Mulberry, FL 33860
Investment Highlights
- 5 duplex style structures on almost an acre of land with 10 units. Tremendous upside - current under market rents can be raised.
- 4 vacant units at present, as new management company gets situated, with some units also needing renovation. Zoned RL-4, Unincorporated Polk County.
- Each structure has space for tenant parking. Central fenced trash receptacle on site, and there is a central mailbox area for the tenants.
- All units are 2/1 traditional apartment and several of the units have been rehabbed. Great income opportunity, with proforma numbers around $150K.
- Utility Providers - TECO for electric, water and sewer provided by the City of Mulberry. Tenants pay their own electric, Landlord pays water /sewer
Executive Summary
PLEASE SEE ATTACHED PROPERTY BROCHURE FOR DETAILS.
We are pleased to present this investment opportunity in Mulberry Florida, only 5 minutes from Lakeland. This is a 10-unit property offering tremendous value-add.
The asset comprises five duplex buildings, all featuring traditional 2-bedroom, 1-bathroom units (a portion of which are fully renovated).
The current vacancies, resulting from a recent management change and deferred maintenance, are a direct value-creation opportunity for a new owner. Several of the units have and continue to be rehabilitated. The buildings have all been pressure washed and the buildings sit on almost 1 acre.
There is separate parking for each of the buildings, and the property has a central mailbox system.
As for location, it has excellent connectivity via N Church Ave/SR 37 in Mulberry. State Road 60 runs east and west through the state, and SR 37 is also known as Florida Ave, which runs through Lakeland.
We are pleased to present this investment opportunity in Mulberry Florida, only 5 minutes from Lakeland. This is a 10-unit property offering tremendous value-add.
The asset comprises five duplex buildings, all featuring traditional 2-bedroom, 1-bathroom units (a portion of which are fully renovated).
The current vacancies, resulting from a recent management change and deferred maintenance, are a direct value-creation opportunity for a new owner. Several of the units have and continue to be rehabilitated. The buildings have all been pressure washed and the buildings sit on almost 1 acre.
There is separate parking for each of the buildings, and the property has a central mailbox system.
As for location, it has excellent connectivity via N Church Ave/SR 37 in Mulberry. State Road 60 runs east and west through the state, and SR 37 is also known as Florida Ave, which runs through Lakeland.
Property Facts
| Price | $1,100,000 | Apartment Style | Garden |
| Price Per Unit | $110,000 | Lot Size | 0.92 AC |
| Sale Type | Investment | Building Size | 2,000 SF |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2000 |
| Zoning | RL-4 | ||
| Price | $1,100,000 |
| Price Per Unit | $110,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.92 AC |
| Building Size | 2,000 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1973/2000 |
| Zoning | RL-4 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | - | 672 |
1 1
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100 NE 10th Ter - 10 Unit - 5 Building Multifamily Property
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