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    915 Palmetto St Lakeland, FL 33801

    For Sale
    $1,499,000

    Historic 12-Unit Apartment Building in Lakeland, FL

    Property size:
    8,348 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    310
    This exceptional 12-unit multifamily property presents a compelling investment opportunity in Lakeland, Florida's desirable Lake Morton Historic District. Situated on a 0.45-acre lot, the building boasts a total of 8,348 square feet. The property's Mediterranean Revival architecture is a captivating blend of classic charm and modern updates, having undergone extensive renovations. The North Building has been fully renovated, while the South Building features partial remodeling, ensuring a high standard of living for tenants. Each of the twelve units includes brand-new appliances and updated fixtures, providing a comfortable and modern living space. Tenant convenience is enhanced by an on-site laundry facility. Residents can also enjoy a spacious courtyard, perfect for relaxation and outdoor enjoyment in Florida's pleasant climate. The property's location within the Lake Morton Historic District adds significant value, offering both historical significance and a highly sought-after address. Priced at $1,499,000, this is a rare chance to acquire a beautifully restored historic building with strong rental potential in a thriving Lakeland neighborhood. The property's combination of historical character, modern amenities, and prime location makes it an ideal addition to any investment portfolio. This is a turn-key opportunity for immediate income generation.

    Property Features for 915 Palmetto St

    General Information

    Property type
    Residential income properties
    Square Feet
    8,348 SF
    Lot Size
    19,602 SF

    Building Details

    Year Built
    1926
    Property Profile Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Restaurant Dental Office Law Firm Spa & Massage Realty agency Hair Salon Nail Salon Clothing Store Daycare Center Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.94684
    Latitude
    28.03671

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    FAQs

    What type of property is this?
    Residential income property - Historic 12-Unit Apartment Building in Lakeland, FL
    Where is this residential income property located?
    The property is located at 915 Palmetto St Lakeland, FL.
    What is the asking price?
    The asking price for this property is $1,499,000.
    (863) 577-1234
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    915 Palmetto St Lakeland, FL 33801
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    Lakeland, FL 33801
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    915 Palmetto St Lakeland, FL 33801
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