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1005 S New York Ave 9 Unit Apartment Building For Sale Lakeland, FL 33803
Investment Highlights
- Ideally positioned in Lakeland along the high-growth I-4 corridor between Tampa and Orlando, the property bene?ts from strong regional job growth.
- Highly uniform, e?cient ?oor plans averaging 824 SF per unit make the asset easy to manage and market, and the property is currently 100% occupied.
- The asset generates diversi?ed ancillary income beyond base rent, including an established Resident Bene?t Package ($50/unit/month) and pet rent.
- Ownership has replaced 7 of the 9 HVAC units within the past ?ve years and completed a roof replacement in 2017.
Executive Summary
1005 S New York Ave in Lakeland, Florida is a 9-unit multifamily investment property located in the city's Dixieland District. The property consists of a concrete block apartment building with eight two-bedroom, one-bath units and one one-bedroom, one-bath unit. Recent renovations and capital improvements have enhanced the asset's long-term appeal, including a roof replacement in 2018 and air-conditioning replacements in seven of the nine units within the past five years.
The property offers dedicated resident parking and an on-site laundry facility that provides additional income potential. Individual units feature durable, low-maintenance finishes designed to support efficient operations and resident retention. The location places tenants near Downtown Lakeland, local dining and retail destinations, and major transportation corridors, contributing to consistent rental demand within an established residential neighborhood
The property offers dedicated resident parking and an on-site laundry facility that provides additional income potential. Individual units feature durable, low-maintenance finishes designed to support efficient operations and resident retention. The location places tenants near Downtown Lakeland, local dining and retail destinations, and major transportation corridors, contributing to consistent rental demand within an established residential neighborhood
Property Facts Under Contract
| Sale Type | Investment | Lot Size | 0.45 AC |
| No. Units | 9 | Building Size | 7,604 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1977 |
| Building Class | C | Parking Ratio | 1.97/1,000 SF |
| Zoning | RA4 - RA4 | ||
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 7,604 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 1.97/1,000 SF |
| Zoning | RA4 - RA4 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Storage Space
- Heating
- Ceiling Fans
- Refrigerator
- Oven
- Range
- Tub/Shower
- Vinyl Flooring
- Window Coverings
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Tenant Controlled HVAC
- Pet Play Area
- Private Bathroom
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 8 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 23-28-24-122500-001011 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $398,332 |
Property Taxes
Parcel Number
23-28-24-122500-001011
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$398,332
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