Paul Bills - Coldwell Banker Tony Hubbard
211 N Lake Silver Drive NW
WINTER HAVEN, FL 33881

$1,500,000

Description

Tremendous opportunity to own income producing property with future development opportunities. The property currently consists of 12 two-story two (2) bedroom apartment units. According to the land use, the property allows for up to 49 units. The future land use has this property located in a "Primary Activity Center" use in the 2025 map. This future land use allows 40 units per acre. It also allows for mixed uses so retail or office could be built on the front end of the parcel. The parcel already has an over-sized paved lot, it would appear that an additional 15 units could be added without affecting the existing spaces. At a land price per unit of 28,333 this additional land has been valued at $425,000, we believe the new rent rate would exceed that of existing units.

Details

MLS#T3108546
StyleIndustrial
Sub-TypeResale
StatusActive
Year1977
Days On Site177

Features

SQ Feet11,282
Story(s)1
Units14
ZoningC3

Market Activity 33881

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Area Information

StateFL
CountyPolk
CityWINTER HAVEN
Zip Code33881
Area33881 - Winter Haven / Florence Villa
Listing VS Median (in 33881)
Price:
$1,500,000
low | high
Med:
$184,950
100% of Average
SqFt:
11,282
low | high
Med:
2,527
100% of Average
$ / SqFt:
$133
low | high
Med:
$77
92.367887238232% of Average
On Site:
177
low | high
Med:
248
71.370967741935% of Average
Listing Updated: 11/11/2018
MLS Number: T3108546
Listing Provided By:
Ruddy Hostia LLC  of  CENTURY 21 ELITE LOCATIONS INC

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