Concrete Block
For Sale
$320,000
Pending
3218 CRYSTAL HILLS S LOOP, Lakeland, FL 33801
Two leased units include front and back yards, with tile and vinyl flooring throughout.
Property Size2,120 SF
Days on Market532
Property Features for 3218 CRYSTAL HILLS S LOOP
General Information
Standard status
Pending
Size
2,120 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$3,219
Building Details
Year Built
1986
Construction
concrete block
Listing Agency:
MAGICMIND REALTY LLC
Listed By:
Huafeng Fang · License #3253760
(407) 399-7486
Source:
Exitrealty
Added: May 3, 2025
Changed: Oct 1
Last Checked: Oct 1 at 10:22AM
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 MAGICMIND REALTY LLC
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.
Built in 1986, this 2,120-square-foot duplex contains two leased residences, each with three bedrooms and two bathrooms. The concrete block construction is complemented by newer architectural shingle roofs installed in 2021. Interior finishes include tile and vinyl flooring throughout, with no carpet, while each unit offers front and back yard space.
The property is located in Central Lakeland near shops and schools, with access to I-4 for travel toward Tampa and Orlando. Both units are leased and described as being in great condition, providing an established residential income configuration.
The property is located in Central Lakeland near shops and schools, with access to I-4 for travel toward Tampa and Orlando. Both units are leased and described as being in great condition, providing an established residential income configuration.
Key Highlights
- 2,120‑square‑foot duplex built in 1986
- Two leased units, each with 3 bedrooms and 2 bathrooms
- Concrete block construction with architectural shingle roofs installed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,478
Cap Rate
7.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$449,560
$449.6K
Cap Rate 7%
$321,114
$321.1K
Cap Rate 9%
$249,756
$249.8K
Market Conditions
NOI Build-Up for 2,120 SF
Gross rent
$34.3K $16.20/SF
− Vacancy
−$2.2K −$1.05/SF
EGI
$32.1K $15.15/SF
− OpEx
−$9.6K −$4.54/SF
NOI
$22.5K $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%
$449,560
Cap Rate 7%
$321,114
Cap Rate 9%
$249,756
Alternative Uses
Best Use
Multifamily LT 5
$321.1K
$281.0K – $374.6K
NOI $22,478 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$286.9K
$251.0K – $334.7K
NOI $20,080 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$509.5K
$445.8K – $594.4K
NOI $35,662 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
376
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
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
Frequently Asked Questions
What type of property is this?
Duplex - Two leased units include front and back yards, with tile and vinyl flooring throughout.
Where is this duplex located?
The property is located at 3218 CRYSTAL HILLS S LOOP Lakeland, FL.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 2,120‑square‑foot duplex built in 1986; Two leased units, each with 3 bedrooms and 2 bathrooms; Concrete block construction with architectural shingle roofs installed in 2021
