Four-Unit Multifamily
New
For Sale
$529,000
2228 - 2234 BRANDY Place, Lakeland, FL 33803
Residential Income, LAKELAND, FL
Property Size3,936 SF
Lot Size0.36 Acres
Price / SF$134.40
Days on Market2
Property Features for 2228 - 2234 BRANDY Place
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RB-2
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 1, Bedroom 8, Bathroom 2, Bedroom 5, Bedroom 7, Bedroom 2, Bathroom 4, Bathroom 1, Bedroom 6, Bedroom 3, Bathroom 3
Window features
Blinds
Interior features
Ninguno
Exterior features
Lighting
Appliances
Range, Refrigerator
Subdivision
FOREST GARDENS
Lot features
Cul-De-Sac, City Limits, Irregular Lot, Paved
Elementary school
Dixieland Elem
Middle school
Southwest Middle School
High school
Lakeland Senior High
Directions
From S. Lincoln Ave, head west on W. Beacon Rd. Turn south onto Brandy Place and go to the end of the cul-de-sac on the left.
Standard status
Active
APN
23-28-25-130500-002131
Size
3,936 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
FOREST GARDENS PB 12 PG 37 BLK B LOTS 13 THRU 16 LESS BEG NE COR LOT 16 RUN S 13.44 FT DEFLECT THENCE 82 DEG 42 MIN 06 SEC RT & RUN 277.01 FT TO W BDRY LOT 13 N 50.44 FT E 274.79 FT TO BEG LESS S 60 FT OF E 100 FT
Tax Annual Amount
8147
Legal Description
FOREST GARDENS PB 12 PG 37 BLK B LOTS 13 THRU 16 LESS BEG NE COR LOT 16 RUN S 13.44 FT DEFLECT THENCE 82 DEG 42 MIN 06 SEC RT & RUN 277.01 FT TO W BDRY LOT 13 N 50.44 FT E 274.79 FT TO BEG LESS S 60 FT OF E 100 FT
Utilities
Sewer type
Public Sewer
Heating system
Ductless (Heating), Central, Electric (Heating)
Cooling system
Central Air, Wall/Window Unit(s), Window Unit(s)
Water source
Public
Amenities
in-unit washer/dryer connections
Building Details
Year built
1979
Number of units
4
Flooring type
Laminate
Building materials
Block
Roof type
Built-Up
Buildings
2
Listing Agency:
GATOR REALTY OF POLK
(863) 687-4663
Listed By:
Tom Scharar · License #77859
(863) 521-1975
Added: Nov 2
Changed: Nov 3
Last Checked: Nov 3 at 11:06AM
MLS# L4966201
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.
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Investment Insights
Based on property information with market context.
Two duplexes contain four apartments totaling 3,936 square feet on a 0.36-acre parcel. Each unit offers two bedrooms and one bathroom, along with washer and dryer connections. The buildings date to 1979 and have block construction.
The property is zoned RB-2 and served by public water and sewer. Listed appliances include ranges and refrigerators; exterior lighting is also present.
The property is zoned RB-2 and served by public water and sewer. Listed appliances include ranges and refrigerators; exterior lighting is also present.
Key Highlights
- Four apartments in two duplex buildings
- Each unit has 2 bedrooms, 1 bathroom, and washer/dryer connections
- 3,936 square feet of property area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,733
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$834,660
$834.7K
Cap Rate 7%
$596,186
$596.2K
Cap Rate 9%
$463,700
$463.7K
Market Conditions
NOI Build-Up for 3,936 SF
Gross rent
$63.8K $16.20/SF
− Vacancy
−$4.1K −$1.05/SF
EGI
$59.6K $15.15/SF
− OpEx
−$17.9K −$4.54/SF
NOI
$41.7K $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%
$834,660
Cap Rate 7%
$596,186
Cap Rate 9%
$463,700
Alternative Uses
Best Use
Multifamily LT 5
$596.2K
$521.7K – $695.6K
NOI $41,733 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$532.6K
$466.0K – $621.4K
NOI $37,281 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$945.9K
$827.6K – $1.10M
NOI $66,210 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
748
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Each apartment has two bedrooms, one bathroom, and washer and dryer connections.
Where is this multifamily property located?
The property is located at 2228 - 2234 BRANDY Place Lakeland, FL.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Four apartments in two duplex buildings; Each unit has 2 bedrooms, 1 bathroom, and washer/dryer connections; 3,936 square feet of property area
