Heather Jaxheimer-Mills
BEDS12
BATHS
SQUARE FEET3,792
MLS#TB8514488
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONFLA HIGHLANDS CO
Property Description
SELLER FINANCING AVAILABLE. CONTACT LISTING AGENT FOR DETAILS. Lake Josephine Apartments is a 9-unit waterfront multifamily asset sitting directly on the shoreline in Dundee, FL. A rare lakefront offering. The property delivers a 12.79% cash-on-cash return in-place with Year 1 proforma climbing to 13.13%, supported by a balanced unit mix of three studios, three 1BR/1BA, and three 2BR/1BA units across 3,792 SF of concrete block construction on a 1.32-acre lot.In-place rents currently sit below market on multiple units, leaving a clear path to grow returns further without renovation risk. With the landlord covering electric, water, sewer, and trash, operations are simple and tenant turnover is straightforwardThis property's unique waterfront location enhances its appeal, offering tenants a serene living environment while also providing significant potential for investors looking to capitalize on the property's natural setting and strong rental demand in Dundee. Lake Josephine Apartments combines solid construction, a diverse unit mix, and an unbeatable lakeside location, making it an exceptional investment opportunity in the heart of Polk County.*DISCLAIMER: ONE UNIT IS NON-CONFORMING*
Property Features
Property Type: Multi Unit - Multiple
Cooling: Wall/Window Unit(s)
Heating: Electric
Lot Size: 1.32 Acres
Roof Type: Shingle
Taxes: $14,861
Year Built: 1947
Amenities
Ninguno
None
Feature Descriptions
Annual Net Income: 77327.85
Days on Site: 1
Directions: Dundee, FL
Exterior: Concrete, Frame
Fireplace: Masonry
Fireplace Y/N: Yes
Flood Zone Code: X
Foundation: Slab
Frontage Lake: 50
Home Warranty Y/N: No
Lease Terms: Twelve Months
Listing Terms: Cash, Conventional, Owner Financing
Lot Dimensions: 1.32
Other Equipment: None
Ownership: Fee Simple
Property Attached Y/N: No
Property Sub-Type: Quadruplex
Sewer: Septic Needed
Showing Instructions: Appointment Only, Call Listing Agent, Do Not Contact Tenants, See Remarks
Special Sale Provisions: None
Special View Info: Water
Utilities: Electricity Connected, Water Connected
Water: Public
Water Access: Lake
Water Access Y/N: Yes
Waterfront Features: Lake Front
Water View: Lake
Listed By / Shown By
Listed By
Agency Name: FLORIDA REALTY INVESTMENTS
Agency Contact: 407-207-2220
Shown By
Agent Name: Heather Jaxheimer-Mills
Agent Phone: Cell: (813) 335-8080
Agency Title: Florida Executive Realty
Estimate Your Payment
Estimated Payment
$ 3,501.41 per month $2,000.78 Principal & Interest $1,238.42 Property Tax $262.21 Homeowner's InsuranceChange Payment Information
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1210 State 17 Road S | MLS# TB8514488
This multi-family property located at 1210 State 17 Road S, Dundee, FL 33838 is currently listed for sale with an asking price of $899,000. Search Dundee real estate on www.jaxteamtampa.com today.