Lakeland Multifamily Investment
1310 N COMBEE ROAD, Lakeland, FL 33801
- Added:
- Aug 19, 2025
- Days on Market:
- 288
- Last Refresh:
- Jun 2 at 3:06 pm
Property Features for 1310 N COMBEE ROAD
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- C-3
- Bedrooms
- 13
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking features
- Garage, Garage - Attached
- Interior features
- Ninguno
- Exterior features
- Sidewalk
- Standard status
- Pending
- APN
- 24-28-09-175500-012400
- Size
- 6,331 SF
- Lot size
- 2.20 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 4734.49
Utilities
- Heating system
- Ductless (Heating)
- Cooling system
- Multi Units, Wall/Window Unit(s), Window Unit(s)
Building Details
- Year built
- 1931
- Number of units
- 8
- Building materials
- Concrete
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Tito Urbano Perez License #3470017 (407) 907-0350
Listing office FLORIDA REALTY INVESTMENTS 3451 Technological Ave #11, Orlando, FL (407) 207-2220
Listing date Aug 19, 2025
MLS# TB8419297
Listing URL
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.
HighLights
- Stabilized 8‑unit multifamily on a large 2.2‑acre parcel in Polk County, Florida.
- Value‑add potential through lease adjustments.
- Diverse unit mix including a single‑family home, all units have mini‑split AC.
- Separately metered electricity and water paid by tenants.
- Future development potential due to the large lot size.
- Strategic location near major employers, retail, transportation, and I‑4.
Overview
Combee Apartments, an 8-unit multifamily property, is located at 1310 N Combee Rd in Lakeland, Florida. Situated on a 2.2-acre parcel, this five-building complex offers long-term income stability and future development potential within Central Florida’s Polk County submarket. Constructed in 1950, the property includes three 1-bedroom/1-bath units, four 2-bedroom/1-bath units, and one 2-bedroom/2-bath single-family home, totaling 6,331 square feet. All units feature mini-split AC systems, block construction, slab foundations, and pitched shingle roofs. The layout allows for low-density living and ample tenant parking. Electricity and water are separately metered and paid by tenants, while the landlord covers sewer (septic) and trash services. The property is currently leased with below-market rents, offering value-add potential through lease adjustments. Located near major employers, retail, and transportation corridors, Combee Apartments provides access to downtown Lakeland and nearby I-4, making it suitable for workforce housing. With stable cash flow and room for growth, this property is an opportunity for investors seeking scalability in Florida’s market. *DISCLAIMER: TWO UNITS ARE NON-CONFORMING*
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 | $116.2k | $18.36 |
| − Vacancy | −$7.2k | −$1.14 |
| EGI | $109.0k | $17.22 |
| − OpEx | −$49.1k | −$7.75 |
| NOI | $60.0k | $9.47 |
6,331 SF · lease $18.36/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$856.7K
$749.6K – $999.5K
NOI $59,967 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,498 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Lakeland
- County
- Polk
- State
- Florida
- Longitude
- -81.90844
- Latitude
- 28.060927
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Stabilized 8-unit multifamily property with value-add potential in Lakeland, Florida.
Where is this apartment building located?
The property is located at 1310 N COMBEE ROAD Lakeland, FL.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Stabilized 8‑unit multifamily on a large 2.2‑acre parcel in Polk County, Florida.; Value‑add potential through lease adjustments.; Diverse unit mix including a single‑family home, all units have mini‑split AC.
