Three Triplex Investment
For Sale
$1,200,000
4106 Willow South Drive, Mulberry, FL 33860
For sale package of three triplexes totaling nine units, currently 100% occupied.
Property Size6,096 SF
Price / SF$196.85
Days on Market80
Property Features for 4106 Willow South Drive
General Information
Standard status
Active
Size
6,096 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$4,427
Amenities
Central Air
3
Building Details
Year Built
1980
Listing Agency:
SOUTHERN BELLE REALTY
(863) 299-7800
Listed By:
Reta Stead · License #681291
(863) 412-1340
Source:
Xome
Added: Jun 19
Changed: Sep 2
Last Checked: Sep 5 at 5:03AM
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 SOUTHERN BELLE REALTY
Investment Insights
Based on property information with market context.
This offering includes three triplex properties with a total of nine residential units. The unit mix spans multiple configurations, including 1-bedroom/1-bath and 2-bedroom/1-bath layouts, as described for 4106 Willow South Drive, 4116 Willow South Drive, and 3090 W Willow.
The properties are located at 4106 Willow South Drive, Mulberry, FL 33860, with the remaining triplex addresses included in the provided unit descriptions.
According to the seller’s remarks, the triplex portfolio is 100% occupied, providing an opportunity for an investor seeking long-term rental occupancy with existing tenancy.
The properties are located at 4106 Willow South Drive, Mulberry, FL 33860, with the remaining triplex addresses included in the provided unit descriptions.
According to the seller’s remarks, the triplex portfolio is 100% occupied, providing an opportunity for an investor seeking long-term rental occupancy with existing tenancy.
Key Highlights
- For sale package of three triplexes totaling nine units (100% occupied).
- Triplex unit mix includes 1‑bed and 2‑bed layouts across the 3 addresses listed.
- Cooling: central air.
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
$64,635
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
5.39%
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%
$1,292,700
$1.3M
Cap Rate 7%
$923,357
$923.4K
Cap Rate 9%
$718,167
$718.2K
Market Conditions
NOI Build-Up for 6,096 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
$98.8K $16.20/SF
− Vacancy
−$6.4K −$1.05/SF
EGI
$92.3K $15.15/SF
− OpEx
−$27.7K −$4.54/SF
NOI
$64.6K $10.60/SF
Area
Polk County, 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%
$1,292,700
Cap Rate 7%
$923,357
Cap Rate 9%
$718,167
Alternative Uses
Best Use
Multifamily LT 5
$923.4K
$807.9K – $1.08M
NOI $64,635 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$824.9K
$721.8K – $962.4K
NOI $57,741 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,544 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
89
Businesses Nearby
Explore this area
Business Placement
Demographics for 33860, FL
24,932
Population
9,649
Households
2.6
Avg Household Size
36
Median Age
15%
College-Educated
83%
High-School Grad
98.4 sq mi
ZIP Area
253
Density / Sq Mi
$62,779
Median Household Income
$37,688
Median Earnings
$1,150
Median Rent
$221,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - For sale package of three triplexes totaling nine units, currently 100% occupied.
Where is this triplex located?
The property is located at 4106 Willow South Drive Mulberry, FL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: For sale package of three triplexes totaling nine units (100% occupied).; Triplex unit mix includes 1‑bed and 2‑bed layouts across the 3 addresses listed.; Cooling: central air.
