12-Unit Apartment
915 E Palmetto Street LAKELAND Lakeland, FL 33801
915 E Palmetto Street LAKELAND, Lakeland, FL, 33801
$1,390,000
For Sale
$1,390,000
Renovated 12-unit apartment building with on-site laundry and a courtyard.
Property Size8,348 SF
Price / SF$166.51
Days on Market17
Property Features for 915 E Palmetto Street LAKELAND
General Information
- Standard status
- Active
- Size
- 8,348 SF
Building Details
- Year Built
- 1926
Listing agency
(904) 569-5862
Listed by
Silmara Castilhos Saxena
(904) 569-5862
Source
Movetojacksonville
Added: Jul 6 Updated: Jul 20 at 11:19PM Checked: Jul 22 at 2:31AM
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 Silmara Castilhos Saxena
Investment Insights
Based on property information with market context.
This is a 12-unit apartment building presented for sale. The property includes a fully renovated North Building and a partially remodeled South Building, with all units described as fully renovated and outfitted with brand-new appliances and updated fixtures.
The building is identified as a contributing property within the Lake Morton Historic District and is described as having Mediterranean Revival architecture. An on-site laundry facility is included, along with a spacious courtyard for resident use.
The property is offered as a residential income asset with both buildings under renovation/restoration, combining historical character with contemporary unit updates.
The building is identified as a contributing property within the Lake Morton Historic District and is described as having Mediterranean Revival architecture. An on-site laundry facility is included, along with a spacious courtyard for resident use.
The property is offered as a residential income asset with both buildings under renovation/restoration, combining historical character with contemporary unit updates.
Key Highlights
- 12‑unit apartment building in the Lake Morton Historic District (contributing property).
- North building fully renovated; South building partially remodeled.
- Year built 1926; Mediterranean Revival architecture.
Local 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 | $153.3k | $18.36 |
| − Vacancy | −$9.5k | −$1.14 |
| EGI | $143.8k | $17.22 |
| − OpEx | −$64.7k | −$7.75 |
| NOI | $79.1k | $9.47 |
8,348 SF · lease $18.36/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.13M
$988.4K – $1.32M
NOI $79,072 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.01M
$1.76M – $2.34M
NOI $140,427 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Renovated 12-unit apartment building with on-site laundry and a courtyard.
Where is this apartment building located?
The property is located at 915 E Palmetto Street LAKELAND Lakeland, FL.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 12‑unit apartment building in the Lake Morton Historic District (contributing property).; North building fully renovated; South building partially remodeled.; Year built 1926; Mediterranean Revival architecture.
