Lakeside Multi-Unit Investment
1515 6TH STREET NW Winter Haven, FL 33881
1515 6TH STREET NW, Winter Haven, FL, 33881
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For Sale
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Versatile lakeside property with diverse units for rental income.
Property Size3,100 SF
Price / SF$250
Days on Market684
Property Features for 1515 6TH STREET NW
General Information
- Standard status
- Active
- Size
- 3,100 SF
- Property subtype
- Special Purpose, Land
Listing agency
Century 21 Myers Realty
(863) 967-8617
Listed by
Jay Myers · License #FL
Source
Crexi
Added: Sep 6, 2024 Updated: Jul 10 at 3:44PM Checked: Jul 17 at 3:24AM
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 lakeside investment property in Winter Haven, FL, presents an opportunity for generating rental income through a mix of unit types. There are four efficiency units, each approximately 275 square feet, featuring a single room with a private bath, a small kitchen sink, a refrigerator, and a microwave. Two of these efficiency units offer lake views. The bathrooms include a tub and shower combination, along with a linen closet. Additionally, there is a studio unit of approximately 500 square feet, which includes a combined living room and bedroom area, a bathroom with a shower, and a dining kitchen combo with a large pantry area that houses the AC compressor. The downstairs unit spans approximately 1,500 square feet and includes two bedrooms, one bathroom with a shower, and a kitchen equipped with an electric stove and refrigerator. The large living room features built-in cabinets, and there is an additional game room area, serving as an extension to the living space. This unit is cooled by three window AC units and includes a private deck overlooking the lake.
Key Highlights
- Lakeside location offers attractive views and enhances rental appeal.
- Diverse unit mix includes efficiency units, a studio, and a larger downstairs unit to cater to various tenant needs.
- Designed for generating rental income with multiple units.
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 | $56.9k | $18.36 |
| − Vacancy | −$3.5k | −$1.14 |
| EGI | $53.4k | $17.22 |
| − OpEx | −$24.0k | −$7.75 |
| NOI | $29.4k | $9.47 |
3,100 SF · lease $18.36/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$419.5K
$367.0K – $489.4K
NOI $29,363 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$745.0K
$651.8K – $869.1K
NOI $52,147 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
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FAQs
What type of property is this?
Multifamily property - Versatile lakeside property with diverse units for rental income.
Where is this multifamily property located?
The property is located at 1515 6TH STREET NW Winter Haven, FL.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Lakeside location offers attractive views and enhances rental appeal.; Diverse unit mix includes efficiency units, a studio, and a larger downstairs unit to cater to various tenant needs.; Designed for generating rental income with multiple units.
