230 6th St NE 4 Unit Apartment Building $479,000 ($119,750/Unit) Winter Haven, FL 33881

Add a value-add multifamily asset to your portfolio with this recently renovated quadplex located in the “Chain of Lakes” city of Winter Haven, FL.
Renovated in 2023, the property consists of four (4) studio units, approximately 600 SF per unit. Capital improvements completed in 2023 include new appliances, windows, and doors, bathroom renovations, a new roof, individual window A/C units, and a new lift station (sewer waste collection system) installed in June 2023, significantly reducing near-term capital expenditure for the next owner.
The property was fully leased in Fall 2023 and previously marketed at $650,000. Since that time, the seller has not actively managed the asset, resulting in vacancy across the remaining units. The vacant units require only minor cosmetic paint refreshes, presenting a straightforward lease-up opportunity without major renovation scope.
Currently, one (1) unit is occupied, allowing new ownership to control the lease-up timeline, establish market rents, and implement professional management. This property is not being marketed as a stabilized investment and is well-suited for an investor or owner-operator seeking income growth through execution rather than heavy capital improvements.
The seller is focused on their core technology business and has repriced the asset to $479,000 to facilitate a timely sale.
Located just north of E Central Ave, the property is nestled in a quiet, nature-oriented setting with Lake Elbert, Lake Martha, and Rotary Park all within walking distance. Tenants enjoy access to scenic walking paths, shaded picnic areas, open green space, and recreational amenities, supporting long-term rental demand.
Winter Haven, known as the “Chain of Lakes” city, is strategically positioned between Tampa and Orlando, offering strong rental fundamentals, population growth, and proximity to major employment corridors.
This property is not being marketed on an in-place cap rate due to limited current occupancy. Financial performance will depend on future lease-up and rent stabilization by the buyer.
Contact Lance Cobb at 941-356-4781 for details.