Plant City Multifamily Investment
601 W BAKER ST Plant City, FL 33563
For Sale
$399,900
Five-unit residential property with income potential in Plant City.
Property Size3,045 SF
Lot Size0.25 Acres
Price / SF$131.33
Days on Market94
Property Features for 601 W BAKER ST
General Information
- Standard status
- Active
- Size
- 3,045 SF
- Lot size
- 0.25 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1922
Listing Agency:
REALTY ADVISOR EXPERTS
(813) 967-3607
Listed By:
Mike Griffin
(813) 967-3607
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 26 at 7:52AM
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 REALTY ADVISOR EXPERTS
Investment Insights
Based on property information with market context.
This five-unit residential rental property in downtown Plant City offers an investor opportunity. The property generates a gross annual income of $52,800. It features 3,045 square feet of living area with a mix of unit sizes, each having a private entrance. All units include AC wall units and natural gas stoves. Additional features are a large garage/storage area and low property taxes. The property is situated on a quarter-acre corner lot and is conveniently located minutes from I-4, close to shopping and restaurants. The property is not in a flood zone. Long-term tenants occupy the units, and rents are below market value, suggesting potential for increased income. The location has a walk score of 21, indicating car-dependence, and a bike score of 36, indicating it is somewhat bikeable.
Key Highlights
- Strong income potential: Gross annual income of $52,800 with under‑market rents.
- Multi‑unit property: Features 5 residential units, each with a private entrance.
- Convenient location: Minutes from I‑4 and close to shopping and restaurants.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.8k | $18.00 |
| − Vacancy | −$3.9k | −$1.28 |
| EGI | $50.9k | $16.72 |
| − OpEx | −$22.9k | −$7.52 |
| NOI | $28.0k | $9.20 |
3,045 SF · lease $18.00/SF/yr · vacancy 7.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$400.1K
$350.1K – $466.8K
NOI $28,005 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$881.9K
$771.6K – $1.03M
NOI $61,730 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five-unit residential property with income potential in Plant City.
Where is this apartment building located?
The property is located at 601 W BAKER ST Plant City, FL.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Strong income potential: Gross annual income of $52,800 with under‑market rents.; Multi‑unit property: Features 5 residential units, each with a private entrance.; Convenient location: Minutes from I‑4 and close to shopping and restaurants.
