Dundee/Winter Haven-Comm/Multifamily Oppty

This is an Income-producing property with up to 6 units. Two structures are on the property - the first being a two-story 2,131 SF building with two retail/office spaces on the ground level and two studio apartments on the second floor. The second structure is a 1,384 SF duplex, with 3/1 and 2/1 units, respectively.

Both buildings have been renovated over the past few years. The two story structure has a brand new metal roof, and each of the 4 units have their mini split A/C unit. The building has also been painted, and the two studio apartments have been completely renovated featuring new kitchen counters and laminate floors.

A church tenant occupies the two units on the first floor, at well under market rent. The second floor with the studios currently fetch $1,250 per unit. The duplex has one long term tenant, and one totally renovated unit, which is expected to get $1,100+ per month. Rent roll below.

The property is located near the Dundee Ridge shopping center and approximately 10 minutes from downtown Winter Haven.

Dundee is a small town on the other side of Winter Haven, separated by US 27, a main thoroughfare running north and south.

• Two income producing buildings on Dundee Road at US 27 on .34 Acres. 2,131 SF two story commercial, and 1,384 SF Duplex. Both structures have been renovated and rents on several units are close to market, with a couple of vacant units, which should soon be filled.
• Two story building - 4 units, new roof in 2023, new mini split A/C units in 2023. 4 electric meters. Owner pays the water bill. The church has the two bottom units and is under market rent. It has a congregation of approx. 40 people, using one unit as a sanctuary and the other as a fellowship space. The upstairs has two completely renovated studio apartments.
• Duplex - 2 units. 1 x 3/1 and 1 x 2/1. The 2/1 unit has been completely renovated and has a new mini split A/C unit. The 3/1 has a long term tenant, and a 2014 A/C unit. Each unit has their own hot water tank. There is a shared washer/dryer in the back of the duplex. 2 electric meters and tenants share water cost.
• Current Income - $3,050 monthly with two vacant units, that should be filled quickly. These rents are reflected in the income sheet below. Proforma rents should be $7,050 per month, $84,600 annual.
• Current Annual Expenses - Property Tax - $4,623 Insurance (two story only)- $3,351. Water costs - $900, Lawn Maintenance $35 per cut/twice monthly $840 annual. Repairs handled by owner who is in the construction business
• Possible Retail Redevelopment - Zoned CC, Town of Dundee.
• Dundee Road has been expanded to 4 lanes and is located just east Highway 27 and across 27 from Winter Haven.
• Located across the street from Dundee Ridge Shopping Plaza, with many retailers including Winn Dixie as the anchor.
• AADT 12,600 on Dundee Road and 45,000 on US Hwy 27
• Property on public water (Town of Dundee) and septic. Owner pays for water - monthly cost.

For more information please visit: SVN Saunders Ralston Dantzler