Five-Unit Apartment
For Sale
$420,000
402 E Main St, Dundee, FL 33838
Two-story property with separately metered electricity and tenant-paid electric service.
Property Size3,352 SF
Price / SF$125.30
Days on Market78
Property Features for 402 E Main St
General Information
Standard status
Active
Size
3,352 SF
Occupancy
100%
Units
Unit Mix
5 x 1BR/1BA
Multifamily Units
5
Additional Details
Gross Income
$51,000
Utilities to Site
Yes
Amenities
window A/C units
Building Details
Year Built
1946
Buildings
1
Stories
2
Listing Agency:
REAL ESTATE BROKERS USA, INC.
Listed By:
Debbie Bradbury · License #3231911
(863) 242-6624
Source:
Chenoregroup
Added: Jul 31
Changed: Oct 3
Last Checked: Oct 7 at 4:10PM
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 REAL ESTATE BROKERS USA, INC.
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Investment Insights
Based on property information with market context.
This two-story apartment property contains five units, each arranged with one bedroom, one bathroom, a bonus room, kitchen, and living area. Window A/C units serve the apartments, and each unit has a separate electric meter. The property is fully occupied, with tenants responsible for electric service while water and trash are included in rent.
Built in 1946, the building sits on an oversized corner lot at 402 E Main St in Dundee. Municipal water serves the property, which uses a septic system approximately 10 years old. A storage area offers the potential for conversion into shared laundry space. Downtown Dundee is located nearby.
Built in 1946, the building sits on an oversized corner lot at 402 E Main St in Dundee. Municipal water serves the property, which uses a septic system approximately 10 years old. A storage area offers the potential for conversion into shared laundry space. Downtown Dundee is located nearby.
Key Highlights
- Five‑unit apartment building on an oversized corner lot
- Each unit includes 1 bedroom, 1 bathroom, bonus room, kitchen, and living area
- Separate electric meter for every unit; tenants pay their own electric
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,750
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,000
$635.0K
Cap Rate 7%
$453,571
$453.6K
Cap Rate 9%
$352,778
$352.8K
Market Conditions
NOI Build-Up for 3,352 SF
Gross rent
$61.5K $18.36/SF
− Vacancy
−$3.8K −$1.14/SF
EGI
$57.7K $17.22/SF
− OpEx
−$26.0K −$7.75/SF
NOI
$31.7K $9.47/SF
Area
Polk County, FL
Vacancy
6.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,000
Cap Rate 7%
$453,571
Cap Rate 9%
$352,778
Alternative Uses
Best Use
Apartment 5plus
$453.6K
$396.9K – $529.2K
NOI $31,750 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$805.5K
$704.8K – $939.8K
NOI $56,386 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Explore this area
Business Placement
Demographics for 33838, FL
5,243
Population
2,162
Households
2.4
Avg Household Size
38
Median Age
9%
College-Educated
80%
High-School Grad
7.3 sq mi
ZIP Area
718
Density / Sq Mi
$44,514
Median Household Income
$28,286
Median Earnings
$1,600
Median Rent
$230,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story property with separately metered electricity and tenant-paid electric service.
Where is this apartment building located?
The property is located at 402 E Main St Dundee, FL.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Five‑unit apartment building on an oversized corner lot; Each unit includes 1 bedroom, 1 bathroom, bonus room, kitchen, and living area; Separate electric meter for every unit; tenants pay their own electric
