6404 Odom RdLakeland, FL 33809

Property Details for 6404 Odom Rd

Year built

1991

Lot size

1.34 AC

Property size (Sq ft)

9,600 SF

Property type

Residential income homes

Property subtype

Apartment buildings

Description

This exceptional investment opportunity presents eight fully leased townhomes situated on a 1.34-acre lot in Lakeland, Florida. The property consists of four buildings, each two stories high, totaling 9,600 square feet of net rentable space. Built in 1991, these well-maintained townhomes boast a desirable layout: each unit offers 1200 square feet, featuring three bedrooms, two bathrooms, and a one-car garage. Currently enjoying 100% occupancy, the property generates substantial income with rents ranging from $1595 to $2100 per month, significantly below market rates, presenting immediate upside potential. The property's strong tenant base comprises long-term residents in good standing. Conveniently located in a quiet residential neighborhood, the complex is within walking distance of grocery stores and retail shopping, enhancing its appeal to tenants. The property utilizes city water and septic systems. Projected gross revenue for 2024 is $182,820, with a net operating income (NOI) of $141,420. For 2025, projections show a gross revenue of $201,600 and an NOI of $158,958. This turnkey investment offers a compelling opportunity for passive income generation with significant potential for future growth. The property's address is 6404-6422 Odom Rd, Lakeland, FL 33809, Polk County, with APN numbers: 24 27 19 000000 033350, 24 27 19 000000 033360, 24 27 19 000000 033040, and 24 27 19 000000 033390. The property is offered fee simple. This is a Class B multifamily property.

Location Insight

City

Lakeland

County

Polk

State

Florida

Latitude

28.1247

Longitude

-81.9509

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