Updated 4-Unit
New
For Sale
$725,000
1835-1841 CRYSTAL GROVE DRIVE, Lakeland, FL 33801
Each residence offers two bedrooms and two bathrooms, with a primary suite and an en suite bath.
Property Size4,056 SF
Lot Size0.25 Acres
Price / SF$178.75
Days on Market3
Property Features for 1835-1841 CRYSTAL GROVE DRIVE
General Information
Standard status
Active
Size
4,056 SF
Lot size
0.25 Acres
Property subtype
Quadruplex
Site & Location
Neighborhood
Crystal Lake South
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1986
Listing Agency:
HOMECOIN.COM
Listed By:
Jonathan Minerick · License #3477996
(888) 400-2513
Source:
Dennisrealty
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 4 at 1:02PM
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 HOMECOIN.COM
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The Lakeland quadplex contains four residences with a combined 4,056 square feet of living area. Each unit has two bedrooms and two bathrooms, including a primary bedroom with an attached bath. Units 1835 and 1841 share the same layout and are furnished; Units 1837 and 1839 are also identical. The property was built in 1986 and occupies approximately one-quarter acre with on-site parking.
Updates include a roof replacement in 2023, renovated kitchens, bathrooms, and interiors in all four units, and new exterior paint. About half of the windows have been replaced, along with the front doors in three units and siding at the front of the building. All four water heaters were replaced in 2023. AC work includes a 2022 system in Unit 1835, a system replacement in Unit 1841 in 2023, and evaporator coil replacements in Units 1837 and 1839 in 2024; Unit 1839 also received a new condenser in 2025. Unit 1837’s renovation was recently completed.
Updates include a roof replacement in 2023, renovated kitchens, bathrooms, and interiors in all four units, and new exterior paint. About half of the windows have been replaced, along with the front doors in three units and siding at the front of the building. All four water heaters were replaced in 2023. AC work includes a 2022 system in Unit 1835, a system replacement in Unit 1841 in 2023, and evaporator coil replacements in Units 1837 and 1839 in 2024; Unit 1839 also received a new condenser in 2025. Unit 1837’s renovation was recently completed.
Key Highlights
- Four units totaling 4,056 square feet, each with a 2‑bedroom, 2‑bath layout
- Approximately one‑quarter‑acre parcel with on‑site parking
- Roof and all four water heaters replaced in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,005
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$860,100
$860.1K
Cap Rate 7%
$614,357
$614.4K
Cap Rate 9%
$477,833
$477.8K
Market Conditions
NOI Build-Up for 4,056 SF
Gross rent
$65.7K $16.20/SF
− Vacancy
−$4.3K −$1.05/SF
EGI
$61.4K $15.15/SF
− OpEx
−$18.4K −$4.54/SF
NOI
$43.0K $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%
$860,100
Cap Rate 7%
$614,357
Cap Rate 9%
$477,833
Alternative Uses
Best Use
Multifamily LT 5
$614.4K
$537.6K – $716.8K
NOI $43,005 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$548.8K
$480.2K – $640.3K
NOI $38,418 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$974.7K
$852.9K – $1.14M
NOI $68,228 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
Explore this area
Business Placement
Demographics for 33801, FL
36,798
Population
15,365
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,947
Density / Sq Mi
$49,210
Median Household Income
$30,055
Median Earnings
$1,100
Median Rent
$138,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence offers two bedrooms and two bathrooms, with a primary suite and an en suite bath.
Where is this quadplex located?
The property is located at 1835-1841 CRYSTAL GROVE DRIVE Lakeland, FL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Four units totaling 4,056 square feet, each with a 2‑bedroom, 2‑bath layout; Approximately one‑quarter‑acre parcel with on‑site parking; Roof and all four water heaters replaced in 2023
