3947 State Road 60Bartow, FL 33830

Property Details for 3947 State Road 60

Year built

1956

Lot size

1.29 AC

Property size (Sq ft)

4,319 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional multifamily investment opportunity in Bartow, Florida, presents a compelling case for astute investors. Located at 3947 State Road 60, this property encompasses two buildings on a 1.29-acre lot: a triplex and a single-family home. The combined heated square footage totals 4,059 square feet, distributed across four units featuring nine bedrooms and six bathrooms. The property boasts a strong annual net operating income (NOI) of $65,000, exceeding $53,000 after accounting for annual expenses of just over $11,000 (including taxes, insurance, yard maintenance, and pest control). Built in 1956 and renovated in 2017, the property features metal roofs, central air conditioning, updated appliances, and well-maintained grounds. The triplex and single-family home have recently had their septic drain fields and lines replaced. The property is zoned as Rural Cluster Center (RCC) in Polk County. The asking price is $739,000, representing a price per square foot of $171.10 and a price per unit of $184,750. This property is ideally suited for a 1031 exchange and offers a compelling 8.70% cap rate. The property is currently generating income, with an occupancy date of October 27, 2024. The gross square footage is 4,319 square feet, with 4,139 square feet of net rentable space. This is a turnkey investment ready to generate immediate returns.

Location Insight

City

Bartow

County

Polk

State

Florida

Latitude

27.9081

Longitude

-81.7843

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