Plant City Multifamily Investment Opportunity

601 W BAKER ST, Plant City, FL 33563

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For Sale

$399,900

Five-unit residential property with income potential in Plant City.

Type:Commercial

Property size:

3,045 SF

Lot size:

0.25 Acres

Price / SF:

$131/SF

HighLights

Strong income potential: Gross annual income of $52,800 with under‑market rents.
Multi‑unit property: Features 5 residential units, each with a private entrance.
Convenient location: Minutes from I‑4 and close to shopping and restaurants.
Low expenses: Equipped with AC wall units and natural gas stoves for low utility costs; low property taxes.
Additional storage: Includes a large garage/storage area.
Not in flood zone: Property is not located in a flood zone.

We can help!

Listing Contact

Mike Griffin

Learn more

For Sale

$399,900

Five-unit residential property with income potential in Plant City.

Type:Commercial

Property size:

3,045 SF

Lot size:

0.25 Acres

Price / SF:

$131/SF

Added:: Apr 24, 2026
Days on Market:: 49
Last Refresh:: Apr 24 at 4:37 pm

Property Features for 601 W BAKER ST

General Information

Standard status: Active
Size: 3,045 SF
Lot size: 0.25 Acres
Property subtype: Commercial

Building Details

Year Built: 1922

We can help!

Listing Contact

Mike Griffin

Listing agent Mike Griffin

Listing office REALTY ADVISOR EXPERTS

Listing date Apr 24, 2026

Source Elliman

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 REALTY ADVISOR EXPERTS

HighLights

Strong income potential: Gross annual income of $52,800 with under‑market rents.
Multi‑unit property: Features 5 residential units, each with a private entrance.
Convenient location: Minutes from I‑4 and close to shopping and restaurants.
Low expenses: Equipped with AC wall units and natural gas stoves for low utility costs; low property taxes.
Additional storage: Includes a large garage/storage area.
Not in flood zone: Property is not located in a flood zone.

Overview

This five-unit residential rental property in downtown Plant City offers an investor opportunity. The property generates a gross annual income of $52,800. It features 3,045 square feet of living area with a mix of unit sizes, each having a private entrance. All units include AC wall units and natural gas stoves. Additional features are a large garage/storage area and low property taxes. The property is situated on a quarter-acre corner lot and is conveniently located minutes from I-4, close to shopping and restaurants. The property is not in a flood zone. Long-term tenants occupy the units, and rents are below market value, suggesting potential for increased income. The location has a walk score of 21, indicating car-dependence, and a bike score of 36, indicating it is somewhat bikeable.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$54.8k	$18.00
− Vacancy	−$3.9k	−$1.28
EGI	$50.9k	$16.72
− OpEx	−$22.9k	−$7.52
NOI	$28.0k	$9.20

3,045 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$400.1K

$350.1K – $466.8K (±1% cap)

NOI $28,005 @ 7.0% cap · market cap 7.00%

Second Best

—

no second resolved use

Theoretical Best

Office A

$881.9K

$771.6K – $1.03M (±1% cap)

NOI $61,730 @ 7.0% cap · market cap 15.44%

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

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Plant City
County: Hillsborough
State: Florida
Longitude: -82.1281949
Latitude: 28.0168286

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For sale
Apartment buildings
FL
Plant City
33563
601 W BAKER ST

What type of property is this?

Apartment building - Five-unit residential property with income potential in Plant City.

Where is this apartment building located?

The property is located at 601 W BAKER ST Plant City, FL.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: Strong income potential: Gross annual income of $52,800 with under‑market rents.; Multi‑unit property: Features 5 residential units, each with a private entrance.; Convenient location: Minutes from I‑4 and close to shopping and restaurants.