Courtesy: FLORIDA REALTY INVESTMENTS
407-207-2220
The Apartment Brokers present Lake Josephine Apartments a 9-unit waterfront multifamily asset sitting directly on the shoreline in Dundee, FL.? A rare lakefront offering.? The property has a balanced unit mix of three studios, three 1BR/1BA, and three 2BR/1BA units across 3,792 SF of concrete block construction on a 1.32-acre lot.? In-place rents currently sit below market on multiple units, leaving a clear path to grow returns further without renovation risk. With the landlord covering electric, water, sewer, and trash, operations are simple and tenant turnover is straightforward This property’s unique waterfront location enhances its appeal, offering tenants a serene living environment while also providing significant potential for investors looking to capitalize on the property’s natural setting and strong rental demand in Dundee. Lake Josephine Apartments combines solid construction, a diverse unit mix, and an unbeatable lakeside location, making it an exceptional investment opportunity in the heart of Polk County. *DISCLAIMER: ONE UNIT IS NON-CONFORMING*
Courtesy: JULIE MATTHEWS GROUP LLC
863-528-0037
Under contract-accepting backup offers. This 6-unit residential income-producing property is an excellent opportunity with strong cash-flow that's located on Dundee Road, leading directly into the fast-growing town of Dundee! Boasting a 12.62% cap rate at full occupancy, this property significantly exceeds the typical 5–8% multifamily cap rate range seen across Florida, offering investors an exceptional return from day one! With a total monthly income of $8,800, this property delivers a standout return on investment & has the ability to pay for itself before you even know it. Sitting on just over 1/3 of an acre, the property offers plenty of parking & features two separate buildings: a duplex (1,384 heated sq ft) & a quadruplex (2,131 heated sq ft). The duplex features a 2BR/1BA unit currently leased for $1,500/mo. along with a 3BR/1BA unit that has been recently updated with fresh paint, warm wood-laminate flooring, & new stainless-steel appliances. This unit is currently leased for $1,800/mo. The quadruplex is a well-maintained two-story concrete-block building with a new metal roof. The two upstairs units have been recently renovated & feature upgraded wood-laminate flooring & nice kitchenettes w/ granite countertops. Both upstairs units are currently leased to the same tenant for $1,250/mo. per unit. The two downstairs units are both currently leased for $1,500/mo. per-unit on 5-year leases. One downstairs unit includes an Ansul system & a grease trap, offering flexibility for future use. Altogether, both buildings feature fresh exterior paint, giving the property strong curb appeal. Each building has its own septic system & individual water meter, along with six separate electrical meters: one per-unit. Five units are equipped with newer mini-split A/C systems, while the duplex's 3-bedroom unit features central heat/air conditioning. The duplex was originally built in 1925 with an effective year of 1992 & the quadruplex was built in 1986 with an effective year of 2000. 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 $105,600 per year in gross rental income? Schedule a showing & see firsthand just how quickly this property can become a strong hands-off income producer! This property could be subdivided & the duplex building sold separately on it's own at a price of $284,900. The MLS# for this is: P4937610. All measurements are approx & all info should be confirmed by buyer.
Dundee is located in Florida. Dundee, Florida has a population of 5,122. Dundee is more family-centric than the surrounding county with 31.8% of the households containing married families with children. The county average for households married with children is 26.62%.
The median household income in Dundee, Florida is $40,962. The median household income for the surrounding county is $55,099 compared to the national median of $69,021. The median age of people living in Dundee is 32.7 years.
The average high temperature in July is 92.8 degrees, with an average low temperature in January of 49.1 degrees. The average rainfall is approximately 51 inches per year, with 0 inches of snow per year.
