Four-Unit Rental
New
For Sale
$550,000
2006 W HICKORY Street, Lakeland, FL 33815
Residential Income, LAKELAND, FL
Property Size3,079 SF
Lot Size0.44 Acres
Price / SF$178.63
Days on Market2
Property Features for 2006 W HICKORY Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RB-2
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 7, Bathroom 1, Bedroom 5, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 8, Bathroom 3, Bedroom 3
Interior features
Primary Bedroom Main Floor
Subdivision
PLATEAU BEAUTIFUL
Directions
Drive west on West Main St. Enter the roundabout and take the 2nd exit onto West Main St. Right to Olive St. Left to Plateau Ave. Property is on the right.
Standard status
Active
APN
23-28-23-105500-004010
Size
3,079 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PLATEAU BEAUTIFUL PB 7 PG 7 BLK 4 PART OF LOTS 1 & 2 & 3 DESC AS: BEG NE COR OF SAID BLK 4 RUN S 01 DEG 03' 38"W ALONG W R/W LINE OF PLATEAU AVE 124 FT N 89 DEG 17' 36"W 65.78 FT S00 DEG 42' 24'W 13 FT TO SW COR OF LOT 1 RUN N 89 DEG 17' 36"W ALONG S BNDRY OF LOTS 2 & 3 78.65 FT N00DEG 29' 45"E 137 FT TO PT ON S R/W OF HICKORY ST S 89 DEG 17' 34"E ALONG R/W LINE 145.70 FT TO POB
Tax Annual Amount
5748
Legal Description
PLATEAU BEAUTIFUL PB 7 PG 7 BLK 4 PART OF LOTS 1 & 2 & 3 DESC AS: BEG NE COR OF SAID BLK 4 RUN S 01 DEG 03' 38"W ALONG W R/W LINE OF PLATEAU AVE 124 FT N 89 DEG 17' 36"W 65.78 FT S00 DEG 42' 24'W 13 FT TO SW COR OF LOT 1 RUN N 89 DEG 17' 36"W ALONG S BNDRY OF LOTS 2 & 3 78.65 FT N00DEG 29' 45"E 137 FT TO PT ON S R/W OF HICKORY ST S 89 DEG 17' 34"E ALONG R/W LINE 145.70 FT TO POB
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Window Unit(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1951
Building materials
Block
Roof type
Shingle
Listing Agency:
BEYCOME OF FLORIDA LLC
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
(844) 239-2663
Added: Oct 6
Changed: Oct 7
Last Checked: Oct 7 at 9:06AM
MLS# O6447651
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.
This RB-2-zoned property contains two block duplex buildings with four residences, each configured with two bedrooms and one bathroom. The buildings total 3,079 square feet on a 0.44-acre parcel and date to 1951. Interior improvements include renovated or updated finishes, with quartz countertops and retiled showers in two units. Cooling is provided by mini-split or window units, and each residence has laundry hookups. Two units are currently vacant; scheduled rent is noted for the other two. Washer and dryer machines are excluded from the sale.
Recent exterior work includes new roofs and driveways. Hurricane windows are present in two residences. Public water and sewer serve the property.
Recent exterior work includes new roofs and driveways. Hurricane windows are present in two residences. Public water and sewer serve the property.
Key Highlights
- Four residences across two duplex buildings; each unit has 2 bedrooms and 1 bathroom
- 3,079 square feet on a 0.44‑acre parcel
- RB‑2 zoning; built in 1951
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,646
Cap Rate
5.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$652,920
$652.9K
Cap Rate 7%
$466,371
$466.4K
Cap Rate 9%
$362,733
$362.7K
Market Conditions
NOI Build-Up for 3,079 SF
Gross rent
$49.9K $16.20/SF
− Vacancy
−$3.2K −$1.05/SF
EGI
$46.6K $15.15/SF
− OpEx
−$14.0K −$4.54/SF
NOI
$32.6K $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%
$652,920
Cap Rate 7%
$466,371
Cap Rate 9%
$362,733
Alternative Uses
Best Use
Multifamily LT 5
$466.4K
$408.1K – $544.1K
NOI $32,646 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$416.6K
$364.6K – $486.1K
NOI $29,164 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$739.9K
$647.4K – $863.2K
NOI $51,794 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Explore this area
Business Placement
Demographics for 33815, FL
15,681
Population
7,646
Households
2.1
Avg Household Size
40
Median Age
11%
College-Educated
80%
High-School Grad
7.4 sq mi
ZIP Area
2,119
Density / Sq Mi
$36,445
Median Household Income
$32,637
Median Earnings
$1,078
Median Rent
$42,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Two duplex buildings offer four two-bedroom residences with updated interiors and a mix of mini-split and window-unit cooling.
Where is this quadplex located?
The property is located at 2006 W HICKORY Street Lakeland, FL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four residences across two duplex buildings; each unit has 2 bedrooms and 1 bathroom; 3,079 square feet on a 0.44‑acre parcel; RB‑2 zoning; built in 1951
