Updated Two-Building Duplex
New
For Sale
$505,000
1125 OLIVE STREET, Lakeland, FL 33815
Four renovated units occupy two separate duplex buildings on a combined parcel assemblage.
Property Size2,400 SF
Lot Size0.40 Acres
Price / SF$210.42
Days on Market4
Property Features for 1125 OLIVE STREET
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.40 Acres
Property subtype
Quadruplex
Additional Details
Cap Rate
8.3%
Multifamily Units
4
Building Details
Year Built
1947
Buildings
2
Listing Agency:
COLDWELL BANKER REALTY
(727) 822-9111
Listed By:
Samuel Rudolph · License #3608724
(727) 426-0746
Source:
Dennisrealty
Added: Oct 8
Changed: Oct 10
Last Checked: Oct 11 at 7:56AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
Two duplex buildings contain four updated residential units, with a combined building area of 2,400 square feet. The 1947 building measures 1,120 square feet, while the 1954 building measures 1,280 square feet. Together, the properties occupy 0.40 acres across three parcels.
The current cap rate is 8.3%; the pro forma cap rate is 9.3%.
The current cap rate is 8.3%; the pro forma cap rate is 9.3%.
Key Highlights
- Four updated units across two duplex buildings
- 2,400 square feet of combined building area
- 0.40‑acre assemblage spanning 3 parcels
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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Open Analytics
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
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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?
Duplex - Four renovated units occupy two separate duplex buildings on a combined parcel assemblage.
Where is this duplex 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 units across two duplex buildings; 2,400 square feet of combined building area; 0.40‑acre assemblage spanning 3 parcels
