Lakefront Apartment
1210 STATE 17 Road S Dundee, FL 33838
1210 STATE 17 Road S, Dundee, FL, 33838
$899,000
For Sale
$899,000
MULTI_FAMILY - DUNDEE, FL
Property Size3,792 SF
Lot Size1.32 Acres
Price / SF$237.08
Days on Market51
Property Features for 1210 STATE 17 Road S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Bedrooms
- 12
- Bathrooms
- 9
- Rooms
- Bedroom 6, Bedroom 1, Bathroom 5, Bedroom 7, Bedroom 2, Bathroom 9, Bedroom 11, Bedroom 9, Bathroom 1, Bedroom 12, Bathroom 8, Bathroom 6, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 3, Bathroom 4, Bedroom 10, Bedroom 8, Bathroom 2, Bathroom 7
- Interior features
- Ninguno
- Fireplace
- 1
- Standard status
- Active
- APN
- 27-28-27-835520-000054
- Size
- 3,792 SF
- Lot size
- 1.32 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- FLA HIGHLANDS CO SUB OR LAKE JOSEPHINE VILLA LOTS PB 1 PG 87 LOTS 5 & 6 PART DES AS COMM SE COR LOT 6 RUN N 17 DEG 30 MIN 04 SEC W 130 FT S 72 DEG 25 MIN 43 SEC W 228.25 FT FOR POB RUN S 72 DEG 25 MIN 43 SEC W 246.34 FT N 01 DEG 37 MIN 51 SEC W 75.4 FT N 06 DEG 33 MIN 10 SEC W 133.81 FT N 63 DEG 18 MIN 04 SEC E 201.42 FT TO R/W SELY ALONG R/W 63.96 FT S 03 DEG 22 MIN 20 SEC E 228.36 FT TO POB
- Tax Annual Amount
- 14861
Utilities
- Sewer type
- Septic Needed
- Heating system
- Electric (Heating)
- Cooling system
- Window Unit(s), Wall/Window Unit(s)
- Water source
- Public
- Water front features
- Lake Front
- Water front
- 1
Building Details
- Year built
- 1947
- Building materials
- Concrete, Frame
- Roof type
- Shingle
Listing agency
FLORIDA REALTY INVESTMENTS
(407) 207-2220
Listed by
Tito Urbano Perez · License #3470017
(407) 907-0350
Added: Jun 1 Updated: Jul 20 at 8:51PM Checked: Jul 21 at 8:06PM
MLS# TB8514488
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.
Lake Josephine Apartments is a nine-unit waterfront multifamily property situated directly on the shoreline in Dundee, Florida. The building is constructed of concrete block and totals 3,792 square feet, set on a 1.32-acre lot. The unit mix includes three studios, three 1BR/1BA units, and three 2BR/1BA units. Seller financing is available, and one unit is noted as non-conforming.
Operations include the landlord paying electric, water, sewer, and trash, which can simplify monthly expense management. The property is located at 1210 State 17 Road S in Dundee within Polk County.
Current in-place rents are described as below market on multiple units, with a proforma stated in the remarks showing Year 1 cash-on-cash increasing from 12.79% to 13.13%. The listing also notes multiple units appear under-rented, which the seller attributes to a path to increased returns without renovation risk.
Operations include the landlord paying electric, water, sewer, and trash, which can simplify monthly expense management. The property is located at 1210 State 17 Road S in Dundee within Polk County.
Current in-place rents are described as below market on multiple units, with a proforma stated in the remarks showing Year 1 cash-on-cash increasing from 12.79% to 13.13%. The listing also notes multiple units appear under-rented, which the seller attributes to a path to increased returns without renovation risk.
Key Highlights
- 9‑unit Lake Josephine Apartments on the shoreline with lakefront frontage
- Unit mix: three studios, three 1BR/1BA, and three 2BR/1BA
- 3,792 SF concrete block construction on a 1.32‑acre lot; built in 1947
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.6k | $18.36 |
| − Vacancy | −$4.3k | −$1.14 |
| EGI | $65.3k | $17.22 |
| − OpEx | −$29.4k | −$7.75 |
| NOI | $35.9k | $9.47 |
3,792 SF · lease $18.36/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$513.1K
$449.0K – $598.6K
NOI $35,918 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$911.3K
$797.4K – $1.06M
NOI $63,788 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Waterfront Land
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Nine-unit lakefront multifamily asset on the shoreline with concrete block construction and a mix of studios through 2BR units.
Where is this apartment building located?
The property is located at 1210 STATE 17 Road S Dundee, FL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 9‑unit Lake Josephine Apartments on the shoreline with lakefront frontage; Unit mix: three studios, three 1BR/1BA, and three 2BR/1BA; 3,792 SF concrete block construction on a 1.32‑acre lot; built in 1947
