5233 US Highway 98 N | Lakeland, FL 33809
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- LoopNet Team
5233 US Highway 98 N
Lakeland, FL 33809
Reserve at Lakeland - CFO - 5/7/25 · Multifamily Property For Sale
·
220 Units
INVESTMENT HIGHLIGHTS
- Attractive 1989 built apartment community featuring frontage on Lake Gibson and offering a 9.16-acre Phase II development opportunity.
- Enhance value through ancillary income by establishing a cable/WiFi contract, charging premiums for lake views/vaulted ceilings.
- Robust population growth has positioned Lakeland as the fourth fastest-growing city in the U.S. (U.S. News & World Report, 2024-2025)
- Significant value-add opportunity by renovating all units to luxury-grade finishes allowing for rent increases.
- Excellent connectivity to Tampa & Orlando via Interstate 4 and is just minutes away from major retail & entertainment destinations.
- Over $3.8M has been invested in recent capital improvements, including the replacement of roofs, major mechanical systems, and all new plumbing.
PROPERTY FACTS
| No. Units | 220 | Lot Size | 23.56 AC |
| Property Type | Multifamily | Building Size | 174,748 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built/Renovated | 1989/2015 |
| Building Class | B | ||
| Zoning | PUD | ||
| No. Units | 220 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 23.56 AC |
| Building Size | 174,748 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1989/2015 |
| Zoning | PUD |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Freezer
SITE AMENITIES
- 24 Hour Access
- Business Center
- Clubhouse
- Fitness Center
- Laundry Facilities
- Pool
- Property Manager on Site
- Tennis Court
- Gated
- Pet Play Area
- Planned Social Activities
- Maintenance on site
- Sundeck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 96 | - | 572 - 672 |
| 2+1 | 40 | - | 871 |
| 2+2 | 84 | - | 908 - 1,017 |
PROPERTY TAXES
| Parcel Number | 23-27-25-000000-031030 | Improvements Assessment | $13,880,996 |
| Land Assessment | $1,621,515 | Total Assessment | $22,024,375 |
PROPERTY TAXES
Parcel Number
23-27-25-000000-031030
Land Assessment
$1,621,515
Improvements Assessment
$13,880,996
Total Assessment
$22,024,375
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