Apartment Building with Onsite
For Sale
$650,000
520 S BROADWAY AVENUE, Bartow, FL 33830
Fully leased multifamily property near downtown Bartow with updated building systems and a varied unit mix.
Property Size4,285 SF
Price / SF$151.69
Days on Market55
Property Features for 520 S BROADWAY AVENUE
General Information
Standard status
Active
Size
4,285 SF
Property subtype
Multi-Family 5+
Occupancy
100%
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR/2BA, 1 x 1BR/1BA, 1 x studio
Multifamily Units
5
Additional Details
Gross Income
$79,000
Amenities
on-site laundry
Building Details
Year Built
1910
Listing Agency:
CENTURY 21 MYERS REALTY
(863) 875-5656
Listed By:
Michael Brenner · License #3069077
(863) 557-3300
Source:
Dennisrealty
Added: Aug 22
Changed: Oct 15
Last Checked: Oct 15 at 12:32AM
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 CENTURY 21 MYERS REALTY
Investment Insights
Based on property information with market context.
This 5-unit apartment property, constructed in 1910, offers a mix of three 2-bedroom/2-bath units, one 1-bedroom/1-bath unit, and one studio with a full bath. The property is fully leased and includes onsite laundry planned for 2026. Improvements include a roof replacement in 2021, HVAC work completed in 2022, plumbing improvements in 2025, and interior updates in select units, including kitchens, bathrooms, and waterproof laminate flooring.
Located at 520 S Broadway Avenue in Bartow, the property is near downtown and sits along a street characterized by mature oak trees, professional offices, and historic surroundings. Its proximity to local shopping, restaurants, cafes, nightlife, and small businesses places the building within an established community setting.
Located at 520 S Broadway Avenue in Bartow, the property is near downtown and sits along a street characterized by mature oak trees, professional offices, and historic surroundings. Its proximity to local shopping, restaurants, cafes, nightlife, and small businesses places the building within an established community setting.
Key Highlights
- 5‑unit apartment property built in 1910
- Unit mix includes three 2Bed/2bath units, one 1Bed/1Bath unit, and one studio with full bath
- Fully leased multifamily property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,587
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$811,740
$811.7K
Cap Rate 7%
$579,814
$579.8K
Cap Rate 9%
$450,967
$451.0K
Market Conditions
NOI Build-Up for 4,285 SF
Gross rent
$78.7K $18.36/SF
− Vacancy
−$4.9K −$1.14/SF
EGI
$73.8K $17.22/SF
− OpEx
−$33.2K −$7.75/SF
NOI
$40.6K $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%
$811,740
Cap Rate 7%
$579,814
Cap Rate 9%
$450,967
Alternative Uses
Best Use
Apartment 5plus
$579.8K
$507.3K – $676.5K
NOI $40,587 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$901.0K – $1.20M
NOI $72,081 @ 7.0% cap · market cap 11.09%
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
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Explore this area
Business Placement
Demographics for 33830, FL
29,926
Population
11,989
Households
2.5
Avg Household Size
38
Median Age
18%
College-Educated
85%
High-School Grad
120.5 sq mi
ZIP Area
248
Density / Sq Mi
$62,636
Median Household Income
$37,078
Median Earnings
$1,017
Median Rent
$207,900
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased multifamily property near downtown Bartow with updated building systems and a varied unit mix.
Where is this apartment building located?
The property is located at 520 S BROADWAY AVENUE Bartow, FL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 5‑unit apartment property built in 1910; Unit mix includes three 2Bed/2bath units, one 1Bed/1Bath unit, and one studio with full bath; Fully leased multifamily property
