Multi-Unit Income Property with
For Sale
$345,000
605 S JACKSON Ave, Bartow, FL 33830
Two entrances and three separate electric meters support flexible rental and owner-occupant setups near Downtown Bartow.
Property Size3,018 SF
Lot Size0.50 Acres
Days on Market50
Property Features for 605 S JACKSON Ave
General Information
Standard status
Active
Size
3,018 SF
Lot size
0.50 Acres
Property subtype
Investment
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,265
Building Details
Building Size
3,018 SF
Year Built
1900
Units
2
Tenancy
Multi
Listing Agency:
Impact Realty Tampa Bay
(727) 999-0068
Listed By:
Michele Roling · License #3446832
(727) 999-0068
Source:
Elliman
Added: Jun 25
Changed: Aug 9
Last Checked: Aug 12 at 9:43AM
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 Impact Realty Tampa Bay
Investment Insights
Based on property information with market context.
This income property is currently configured as a multi-unit building on a lot of nearly half an acre. The upper level includes a private 2-bedroom, 1-bath apartment with its own kitchen and two separate entrances. The lower level is set up as a spacious 3-bedroom, 3-bath living area plus an additional studio with a full bathroom and a private entrance that is currently operating as a home hair salon.
The property is located in Bartow, just blocks from Downtown Bartow and within minutes of area government offices, employers, dining, shopping, and community amenities. Multiple entrances and separate utility infrastructure are already in place, and the lot size provides room for parking and possible future improvements. Bike and walk scores are noted as Somewhat Bikeable and Car-Dependent.
For tenants, buyers, and operators, the existing arrangement offers multiple occupancy options, including long-term rentals, short-term rentals, workforce housing, or multi-generational use. The presence of three separate electric meters provides a practical foundation for dividing the property into up to three income-producing units, with buyer to verify zoning and permitted use. This combination of adaptable interior layout, private entries, and meter separation supports owner-occupant flexibility and diversified rental planning.
The property is located in Bartow, just blocks from Downtown Bartow and within minutes of area government offices, employers, dining, shopping, and community amenities. Multiple entrances and separate utility infrastructure are already in place, and the lot size provides room for parking and possible future improvements. Bike and walk scores are noted as Somewhat Bikeable and Car-Dependent.
For tenants, buyers, and operators, the existing arrangement offers multiple occupancy options, including long-term rentals, short-term rentals, workforce housing, or multi-generational use. The presence of three separate electric meters provides a practical foundation for dividing the property into up to three income-producing units, with buyer to verify zoning and permitted use. This combination of adaptable interior layout, private entries, and meter separation supports owner-occupant flexibility and diversified rental planning.
Key Highlights
- Multi‑unit property built in 1900 on nearly 1/2 acre, just blocks from Downtown Bartow.
- Upper unit includes a private 2‑bedroom, 1‑bath apartment with its own kitchen and two separate entrances.
- Lower level configured with a spacious 3‑bedroom, 3‑bath living area plus an additional studio with full bath and private entrance.
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
$28,586
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
8.29%
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%
$571,720
$571.7K
Cap Rate 7%
$408,371
$408.4K
Cap Rate 9%
$317,622
$317.6K
Market Conditions
NOI Build-Up for 3,018 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
$55.4K $18.36/SF
− Vacancy
−$3.4K −$1.14/SF
EGI
$52.0K $17.22/SF
− OpEx
−$23.4K −$7.75/SF
NOI
$28.6K $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 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%
$571,720
Cap Rate 7%
$408,371
Cap Rate 9%
$317,622
Alternative Uses
Best Use
Multifamily LT 5
$457.1K
$400.0K – $533.3K
NOI $32,000 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$408.4K
$357.3K – $476.4K
NOI $28,586 @ 7.0% cap · market cap 8.29%
Theoretical Best
Office A
$725.3K
$634.6K – $846.1K
NOI $50,768 @ 7.0% cap · market cap 14.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
904
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
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 - Two entrances and three separate electric meters support flexible rental and owner-occupant setups near Downtown Bartow.
Where is this triplex located?
The property is located at 605 S JACKSON Ave Bartow, FL.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Multi‑unit property built in 1900 on nearly 1/2 acre, just blocks from Downtown Bartow.; Upper unit includes a private 2‑bedroom, 1‑bath apartment with its own kitchen and two separate entrances.; Lower level configured with a spacious 3‑bedroom, 3‑bath living area plus an additional studio with full bath and private entrance.
