10 Unit - 5 Building Multifamily Property Opportunity

Key features

• 4 vacant units at present, as new management company gets situated, with some units also needing renovation
• 5 duplex style structures on almost an acre of land with 10 units. Tremendous upside - current under market rents can be raised
• All buildings have recently been pressure washed
• All units are 2/1 traditional apartment and several of the units have been rehabbed - this work continues
• Currently managed by a 3rd party company - could be transitioned to new owner management
• Each structure has space for tenant parking. Central fenced trash receptacle on site, and there is a central mailbox area for the tenants
• Great income opportunity, with proforma numbers conservatively reflecting north of $150,000 annually. Current rents are under market
• Rent roll available
• Tenants pay their own electric, Landlord pays water and sewer
• There are code enforcement issues at the property, which are being addressed, as well other other issues from different properties tied to the entity. The brokers can provide more details
• Utility Providers - TECO for electric, water and sewer provided by the City of Mulberry
• Zoned RL-4, Unincorporated Polk County