Updated Four-Unit Residential
For Sale
$505,000
1125 OLIVE Street, Lakeland, FL 33815
Residential Income, LAKELAND, FL
Property Size2,400 SF
Lot Size0.40 Acres
Price / SF$210.42
Days on Market10
Property Features for 1125 OLIVE Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RB-1
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 5, Bathroom 1, Bedroom 4, Bathroom 2, Bathroom 4
Interior features
Ninguno
Subdivision
LAKE BEULAH HEIGHTS DIV 02
Directions
sikes blvd to s central ave to right on olive. 1125 on the left.
Standard status
Active
APN
23-28-24-112000-004150
Size
2,400 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAKE BEULAH HEIGHTS DIVISION NO 2 PB 6 PG 36 BLK D LOTS 15 & 16 LAKE BEULAH HEIGHTS DIVISION NO 2 PB 6 PG 36 BLK D LOT 14
Tax Annual Amount
4641
Legal Description
LAKE BEULAH HEIGHTS DIVISION NO 2 PB 6 PG 36 BLK D LOTS 15 & 16 LAKE BEULAH HEIGHTS DIVISION NO 2 PB 6 PG 36 BLK D LOT 14
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1947
Building materials
Frame
Roof type
Shingle
Listing Agency:
COLDWELL BANKER REALTY
(727) 822-9111
Listed By:
Samuel Rudolph
(727) 426-0746
Added: Sep 30
Changed: Oct 9
Last Checked: Oct 9 at 8:06AM
MLS# TB8553595
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property consists of two duplex buildings with four updated units. The 1947 building contains 1,120 square feet, while the 1954 building has 1,280 square feet. Together, the buildings offer 2,400 square feet on 0.40 acres across three parcels. The property is zoned RB-1.
Current operations reflect an 8.3% cap rate; the pro forma projects a 9.3% cap rate. Public water and public sewer serve the site.
Current operations reflect an 8.3% cap rate; the pro forma projects a 9.3% cap rate. Public water and public sewer serve the site.
Key Highlights
- Four updated residential units in two duplex buildings
- 2,400 square feet across both buildings
- 1947 duplex: 1,120 square feet; 1954 duplex: 1,280 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,447
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$508,940
$508.9K
Cap Rate 7%
$363,529
$363.5K
Cap Rate 9%
$282,744
$282.7K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$38.9K $16.20/SF
− Vacancy
−$2.5K −$1.05/SF
EGI
$36.4K $15.15/SF
− OpEx
−$10.9K −$4.54/SF
NOI
$25.4K $10.60/SF
Area
Lakeland, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$508,940
Cap Rate 7%
$363,529
Cap Rate 9%
$282,744
Alternative Uses
Best Use
Multifamily LT 5
$363.5K
$318.1K – $424.1K
NOI $25,447 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$324.8K
$284.2K – $378.9K
NOI $22,733 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$576.7K
$504.7K – $672.9K
NOI $40,372 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Explore this area
Business Placement
Demographics for 33815, FL
15,681
Population
7,646
Households
2.1
Avg Household Size
40
Median Age
11%
College-Educated
80%
High-School Grad
7.4 sq mi
ZIP Area
2,119
Density / Sq Mi
$36,445
Median Household Income
$32,637
Median Earnings
$1,078
Median Rent
$42,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two duplex buildings provide four updated units across a multi-parcel residential site.
Where is this quadplex located?
The property is located at 1125 OLIVE Street Lakeland, FL.
What is the asking price?
The asking price for this property is $505,000.
What are key features of this property?
This property features: Four updated residential units in two duplex buildings; 2,400 square feet across both buildings; 1947 duplex: 1,120 square feet; 1954 duplex: 1,280 square feet
