Historic Four-Unit
For Sale
$850,000
211 E PARK Street, Lakeland, FL 33803
Residential Income, LAKELAND, FL
Property Size3,640 SF
Lot Size0.20 Acres
Price / SF$233.52
Days on Market60
Property Features for 211 E PARK Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RM
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 2, Dining Room, Bedroom 6, Bathroom 3, Bedroom 8, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5, Bedroom 7, Bathroom 4, Bathroom 1
Parking features
Guest, Assigned, Driveway
Patio and Porch features
Deck, Porch
Interior features
Ceiling Fans(s), Crown Molding, Living Room/Dining Room Combo, Solid Surface Counters, Split Bedroom, Thermostat, Walk-In Closet(s)
Exterior features
Lighting, Sidewalk, Storage
Fireplace
1
Appliances
Gas Water Heater, Range, Refrigerator
Subdivision
VAN DEUSEN & SHANNONS
Lot features
Historic District, City Limits, Sidewalk, Paved
Elementary school
Philip O'Brien Elementary
Middle school
Southwest Middle School
High school
Lakeland Senior High
Directions
Going south on Florida Ave, after passing Patterson St, turn left on E Park St, quadruplex is on the right.
Standard status
Active
APN
24-28-19-221000-022071
Size
3,640 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
VAN DEUSEN & SHANNONS SUB PB 3 PG 46 BLK 22 LOT 7 LESS S 134 FT THEREOF
Tax Annual Amount
11040
Legal Description
VAN DEUSEN & SHANNONS SUB PB 3 PG 46 BLK 22 LOT 7 LESS S 134 FT THEREOF
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer hookups
covered parking
private decks
Building Details
Year built
1925
Floors in Building
2
Number of units
4
Flooring type
Tile, Carpet
Building materials
Stucco, Frame
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
EXP REALTY LLC
(888) 883-8509
Listed By:
Luis Perez Garcia · License #3619398
(201) 658-0689
Added: Jul 22
Changed: Sep 12
Last Checked: Sep 19 at 7:06AM
MLS# L4963370
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.
Built in 1925, this 3,640-square-foot quadplex occupies a 0.2-acre site in Lakeland’s South Lake Morton Historic District. The property contains four two-bedroom, one-bath units with renovated kitchens, contemporary appliances, individual HVAC systems, fresh interior paint, and newer carpeting. Original details, including crown molding, built-ins, wall casing, and other period elements, remain in place alongside modern improvements.
Each residence includes a private outdoor deck, while assigned covered carport parking and exterior washer and dryer hookups add practical convenience. Utilities are separately metered, and the property has public water and public sewer service. A new shingle roof was installed in March 2026. The address is near Lake Hollingsworth and local destinations including Cob & Pen, Concord Coffee, The Peach House, and Patio 850.
Each residence includes a private outdoor deck, while assigned covered carport parking and exterior washer and dryer hookups add practical convenience. Utilities are separately metered, and the property has public water and public sewer service. A new shingle roof was installed in March 2026. The address is near Lake Hollingsworth and local destinations including Cob & Pen, Concord Coffee, The Peach House, and Patio 850.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- 3,640 square feet on a 0.2‑acre site
- Built in 1925 with crown molding, built‑ins, and period trim
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,595
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$771,900
$771.9K
Cap Rate 7%
$551,357
$551.4K
Cap Rate 9%
$428,833
$428.8K
Market Conditions
NOI Build-Up for 3,640 SF
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.
Gross rent
$59.0K $16.20/SF
− Vacancy
−$3.8K −$1.05/SF
EGI
$55.1K $15.15/SF
− OpEx
−$16.5K −$4.54/SF
NOI
$38.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$771,900
Cap Rate 7%
$551,357
Cap Rate 9%
$428,833
Alternative Uses
Best Use
Multifamily LT 5
$551.4K
$482.4K – $643.3K
NOI $38,595 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$492.5K
$431.0K – $574.6K
NOI $34,478 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$874.7K
$765.4K – $1.02M
NOI $61,231 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
Explore this area
Business Placement
Demographics for 33803, FL
29,082
Population
15,086
Households
1.9
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
16.6 sq mi
ZIP Area
1,752
Density / Sq Mi
$63,180
Median Household Income
$40,358
Median Earnings
$1,337
Median Rent
$236,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated four-unit property with separately metered utilities, covered parking, private decks, and preserved architectural details.
Where is this quadplex located?
The property is located at 211 E PARK Street Lakeland, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; 3,640 square feet on a 0.2‑acre site; Built in 1925 with crown molding, built‑ins, and period trim
