Description

This commercial property with 6 units is an excellent income producer with various land use possibilities that is located on the heavily travelled Dundee Road, leading directly into the fast-growing town of Dundee! With a cap rate of 9.64% at current occupancy & a projected 12.70% at full occupancy, this property far outperforms the typical 5-8% multifamily cap rate benchmark in Florida, making it one of the strongest investment opportunities on the market today! With a projected income of $8,850 per month, this property yields an astounding return on investment & will pay itself off before you know it. The property is a little over 1/3 of an acre, offering plenty of parking options & features 2 separate buildings: a duplex(1,384 heated Sq FT) & a quadruplex(2,131 heated SQ FT). The duplex has a 2BR/1BA unit, currently leased for $1,500/mo. & a 3BR/1BA unit that has been recently updated, including fresh paint, warm wood-laminate flooring, & new stainless steel appliances. This unit has an expected rental amount of $1,850/mo. & is currently vacant for easy showings during the sale. The quadruplex is a well-maintained & strong 2-story concrete block building with a new metal roof. The 2 upstairs units have been recently renovated featuring upgraded wood-laminate flooring & nice kitchenettes with granite countertops. Both upstairs units are currently leased to the same tenant for $1,250./mo, each. The downstairs units are both currently leased for $1,500/mo., each on 5-year leases. There is an Ansul System & a grease trap with one of the downstairs units. All together, both buildings feature fresh exterior paint which promotes strong curb appeal. Each building has its own septic system & water meter, with 6 separate electrical meters total: one per unit. Five units are equipped with newer mini-split A/C/H systems, while the duplex's 3/1 unit features central heat & air conditioning. The duplex, originally built in 1925, has an effective year of 1992 per county. The quadruplex was built in 1986 with an effective year of 2000 per county. What's unique about this property is that you get the best of both worlds, where on one side of the property sits the charming downtown area of Dundee, & on the other side boasts one of Polk County's major thoroughfares, Hwy 27, that opens you up to the cities of Winter Haven, Lake Wales, & Haines City which are some of the fastest growing in all of Florida! Interested in earning $106,200 a year in passive gross income? Or better yet, why not jump on this opportunity to move your own growing business to this fabulous location w/ an option to conveniently live on site, while still receiving additional income from the other rental units? Schedule a showing to see for yourself just how fast this property could become an easy money-maker for you! This property could be subdivided & the duplex building sold separately on its own at a price of $284,900. The MLS# for this is: P4937607. All measurements are approx & all info should be confirmed by buyer.