Mulberry Multifamily Investment
100 10th Ter NE, Mulberry, FL 33860
For Sale
Contact for pricing
10-unit multifamily property in Mulberry, Florida with value-add potential.
Property Size6,720 SF
Lot Size1.00 Acre
Price / SF$118.30
Days on Market275
Property Features for 100 10th Ter NE
General Information
Standard status
Size
Lot size
Property subtype
Zoning
Building Details
Buildings
Stories
Units
Listing Agency:
Saunders Real Estate
Listed By:
Craig Morby · License FL SL3152384
(863) 581-0059
Source:
Crexi
Added: Feb 11
Changed: Aug 8
Last Checked: Aug 8 at 2:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Saunders Real Estate
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Investment Insights
Based on property information with market context.
This 10-unit multifamily property in Mulberry, Florida, presents a value-add investment opportunity. The asset consists of five duplex buildings, each featuring traditional 2-bedroom, 1-bathroom units. A portion of the units have been fully renovated, and several others are undergoing rehabilitation. Vacancies are present due to a recent management change and deferred maintenance, offering a direct value-creation opportunity for a new owner. The buildings have been pressure washed and are situated on almost 1 acre. Separate parking is available for each building, and the property includes a central mailbox system. The location offers connectivity via N Church Ave/SR 37 in Mulberry. State Road 60, which runs east and west through the state, and SR 37, also known as Florida Ave, runs through Lakeland.
Key Highlights
- Value‑add opportunity through renovation and filling vacancies.
- 10‑unit property consisting of five duplex buildings.
- All units are traditional 2‑bedroom, 1‑bathroom layouts.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,936
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,318,720
$1.3M
Cap Rate 7%
$941,943
$941.9K
Cap Rate 9%
$732,622
$732.6K
Market Conditions
NOI Build-Up for 6,720 SF
Gross rent
$128.2K $19.08/SF
− Vacancy
−$8.3K −$1.24/SF
EGI
$119.9K $17.84/SF
− OpEx
−$53.9K −$8.03/SF
NOI
$65.9K $9.81/SF
Area
Polk County, FL
Vacancy
6.50%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,318,720
Cap Rate 7%
$941,943
Cap Rate 9%
$732,622
Alternative Uses
Best Use
Apartment 5plus
$941.9K
$824.2K – $1.10M
NOI $65,936 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.50M – $2.00M
NOI $120,112 @ 7.0% cap · market cap 15.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
300
Businesses Nearby
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Business Placement
Demographics for 33860, FL
24,932
Population
9,649
Households
2.6
Avg Household Size
36
Median Age
15%
College-Educated
83%
High-School Grad
98.4 sq mi
ZIP Area
253
Density / Sq Mi
$62,779
Median Household Income
$37,688
Median Earnings
$1,150
Median Rent
$221,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Polk County, FL
Properties on Market for Apartment buildings in Polk County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - 10-unit multifamily property in Mulberry, Florida with value-add potential.
Where is this apartment building located?
The property is located at 100 10th Ter NE Mulberry, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Value‑add opportunity through renovation and filling vacancies.; 10‑unit property consisting of five duplex buildings.; All units are traditional 2‑bedroom, 1‑bathroom layouts.
