6 Unit Apartment Building

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Property Description

This 6-unit multiplex is located in beautiful Lakeland, FL and offers a great long-term investment. The complex has been 100% occupied for over three years and is generating over $34,000 in annual Net Operating Income. The property is located on a brick-paved street just a few blocks from picturesque Lake Morton and each unit has its own private, fenced-in back patio area. Also included are 10 on-site parking spaces. This is a great opportunity to acquire a well-performing, medium sized investment property.

PROPERTY OVERVIEW PROPERTY HIGHLIGHTS

• Located in a thriving community in Lakeland, FL

• Only two blocks from Florida Southern College and historic Lake Morton

• 10 on-site parking spaces

• 100% occupancy for over 3 years

• 9.8% Cap Rate

LOCATION DESCRIPTION

Located in Polk County Florida, Lakeland is the largest city on Interstate 4 between Orlando and Tampa. Large industries in the Lakeland area include logistics & distribution, agriculture, and phosphate mining. Citrus growing dates back over 150 years to the earliest residents in the 1850s. After a series of freezes in the 1980s in areas farther north, Polk County became the focal point for citrus growing in Florida. Although citrus is no longer the largest industry in the area, it still plays a large role in the local and regional economy. Lakeland's largest employer is Publix Supermarkets. Publix is one of the largest regional grocery chains in the United States with over 1,000 stores. Publix employs over 6,500 people in the Lakeland area including corporate headquarters and warehouse employees.