Four-Unit Multifamily
For Sale
$625,000
Pending
1887 CRYSTAL GROVE DRIVE, Lakeland, FL 33801
Each residence has two bedrooms, two bathrooms, central air conditioning, and city water and sewer service.
Property Size3,886 SF
Days on Market8
Property Features for 1887 CRYSTAL GROVE DRIVE
General Information
Standard status
Pending
Size
3,886 SF
Property subtype
Triplex
Site & Location
Neighborhood
Crystal Lake South
Utilities to Site
Yes
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Amenities
central air conditioning
0.33 acres, Dimensions: 139x138
Public Sewer
Additional parcels description:, Parcel Number: 24-28-28-247010-017310, Public Survey Range: 24, Public Survey Section: 28, Annual Amount: $5,924.02, Tax Book Number: 72-33, Legal Description: CRYSTAL GROVE PB 72 PG 33 LOTS Q-30 S 17 FT & ALL Q-31, Lot: Q-30, Year: 2025, Zoning: PUD
Central Air
Central
Listing ID: MFRO6451551, Standard Status: Active Under Contract, MLS Status: Pending, Property Subtype: Triplex, On market as of 2026-10-21, Off market as of 2026-10-21, Special Conditions: None
6 total bedrooms
Built in 1986, Living area: 3886, Living area units: Square Feet, Construction Materials: Block
Subdivision: CRYSTAL GROVE, MLS Area (Major): 33801 - Lakeland, County/Parish: Polk
6 total bathrooms
Cable Available, Electricity Connected, Sewer Connected, Water Connected, Water Source: Public
Block
Close Of Escrow
Allowed: Cats OK, Dogs OK
Road Surface: Paved
Garden
Building Details
Year Built
1986
Listing Agency:
TRUDEALS REALTY CORP
(833) 878-3325
Listed By:
Candace Garber · License #3533048
(224) 489-4435
Source:
Miharaandassociates
Added: Oct 21
Changed: Oct 27
Last Checked: Oct 28 at 7:01AM
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 TRUDEALS REALTY CORP
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Investment Insights
Based on property information with market context.
This 1986 multifamily property contains four separate residences, each configured with two bedrooms and two bathrooms. Central air conditioning serves the units, and the property has city water and public sewer service. The four residences provide eight bedrooms in total.
The property is in Lakeland’s Crystal Grove neighborhood, with Lake Mirror, Hollis Garden, Lake Morton, Munn Park, and Bonnet Springs Park among the nearby destinations. Shopping, dining, and recreation are also available in the Lakeland area.
The property is in Lakeland’s Crystal Grove neighborhood, with Lake Mirror, Hollis Garden, Lake Morton, Munn Park, and Bonnet Springs Park among the nearby destinations. Shopping, dining, and recreation are also available in the Lakeland area.
Key Highlights
- Four residential units, each with 2 bedrooms and 2 bathrooms
- Eight bedrooms across the property
- Central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,203
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$824,060
$824.1K
Cap Rate 7%
$588,614
$588.6K
Cap Rate 9%
$457,811
$457.8K
Market Conditions
NOI Build-Up for 3,886 SF
Gross rent
$63.0K $16.20/SF
− Vacancy
−$4.1K −$1.05/SF
EGI
$58.9K $15.15/SF
− OpEx
−$17.7K −$4.54/SF
NOI
$41.2K $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%
$824,060
Cap Rate 7%
$588,614
Cap Rate 9%
$457,811
Alternative Uses
Best Use
Multifamily LT 5
$588.6K
$515.0K – $686.7K
NOI $41,203 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$525.8K
$460.1K – $613.5K
NOI $36,808 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$933.8K
$817.1K – $1.09M
NOI $65,369 @ 7.0% cap · market cap 10.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,020
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has two bedrooms, two bathrooms, central air conditioning, and city water and sewer service.
Where is this quadplex located?
The property is located at 1887 CRYSTAL GROVE DRIVE Lakeland, FL.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Four residential units, each with 2 bedrooms and 2 bathrooms; Eight bedrooms across the property; Central air conditioning
