1125 OLIVE ST, LAKELAND, FL, 33815
$505,000
Residential Income
|
Bedrooms
6
|
Bathrooms
4
|
Living Area
2,400 Sqft
|
Lot Size
17,362 Sqft
|
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.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRTB8553595 | Year Built: | 1947 | |
| Construction Materials: | Frame | Cooling: | Wall/Window Unit(s) | |
| Country: | US | County Or Parish: | Polk | |
| Exterior Features: | None | Financial Data Source: | Owner | |
| Foundation Details: | Crawlspace, Slab | Heating: | Ductless | |
| Laundry Features: | None, Washer Hookup | Listing Agreement: | Exclusive Right To Sell | |
| Listing Terms: | Cash, Conventional, Other | Occupant Type: | Tenant | |
| Other Equipment: | None | Property Sub Type: | Quadruplex | |
| Property Type: | Residential Income | Road Surface Type: | Other | |
| Roof: | Shingle | Sewer: | Public Sewer | |
| Showing Requirements: | Appointment Only, Call Listing Agent, ShowingTime | Special Listing Conditions: | None | |
| Standard Status: | Active | State Or Province: | FL | |
| Tenant Pays: | Electricity | Utilities: | Public | |
| Water Source: | Public | |||
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