1125 OLIVE STREET
Lakeland, FL 33815
$505,000
8.3% CAP RATE IN PLACE, 9.3% ON PRO FORMA: FOUR UPDATED UNITS. This turnkey fourplex delivers day one cash flow with rent upside already built into the numbers. Two separate duplexes sit on a combined 0.40-acre lot (including 3 parcels). Building one is a 1947 duplex with 1,120 sq ft, and building two is a 1954 duplex with 1,280 sq ft. All four units have been updated, so the heavy lifting is done. Current operations produce an 8.3% cap rate, and bringing rents to market per the pro forma pushes returns to a 9.3% cap rate. Add value through rent increases and efficient management, not capital projects. Four doors, two buildings, one lot, and a clear path to higher NOI. Request the rent roll and financials today.
Listing Courtesy of: COLDWELL BANKER REALTY
727-822-9111
| Listing Id: | TB8553595 |
|---|---|
| List Price: | $505,000 |
| Property Type: | Residential Income |
| Property Sub Type: | Quadruplex |
| Status: | Active |
| Bedrooms Total: | 6 |
| Bathrooms Full: | 4 |
| Living Area: | 2,400 |
| Tax Annual Amount: | $4,641 |
| Lot Size Square Feet: | 17,362 |
| Lot Size Acres: | 0.4 |
| City: | Lakeland |
| County Or Parish: | Polk |
| Subdivision Name: | Lake Beulah Heights Div 02 |
| Postal Code: | 33815 |
| Year Built: | 1947 |
| Additional Parcels?: | Yes |
| Bathrooms Total Integer: | 4 |
| Building Area Source: | Public Records |
| Building Area Total: | 2532 |
| Building Area Units: | Square Feet |
| Foundation Details: | Crawlspace, Slab |
| Construction Materials: | Frame |
| Cooling: | Wall/Window Unit(s) |
| Directions: | sikes blvd to s central ave to right on olive. 1125 on the left. |
| Exterior Features: | None |
| Gross Income: | $52,020 |
| Heating: | Ductless |
| Interior Features: | Ninguno |
| Laundry Features: | None, Washer Hookup |
| Ownership: | Fee Simple |
| Living Area Source: | Public Records |
| Living Area Units: | Square Feet |
| Lot Size Acres: | 0.4 |
| Lot Size Dimensions: | 124x94 |
| Postal Code Plus4: | 4307 |
| MLS Area Major: | 33815 - Lakeland |
| MLS Area Major: | 33815 - Lakeland |
| Original List Price: | $505,000 |
| Other Equipment: | None |
| Parcel Number: | 23-28-24-112000-004150 |
| Township: | 28 |
| Road Surface Type: | Other |
| Roof: | Shingle |
| Listing Terms: | Cash, Conventional, Other |
| Tax Year: | 2025 |
| Sewer: | Public Sewer |
| Special Listing Conditions: | None |
| State Or Province: | FL |
| Additional Parcels Description: | 23-28-24-112000-004140 |
| Tenant Pays: | Electricity |
| Total Actual Rent: | $4,335 |
| Financial Data Source: | Owner |
| Utilities: | Public |
| Water Source: | Public |
| Number Of Lots: | 3 |
| Public Survey Range: | 23 |
| Public Survey Section: | 24 |
| Zoning: | RB-1 |
| Alternate Key Folio Num: | 232824112000004150 |
| Annual Expenses: | 9945 |
| Annual Net Income: | 42075.00 |
| Building Area Total Srch Sq M: | 235.23 |
| Calculated List Price By Calcula: | 210.42 |
| Cddyn: | No |
| Dprurl: | https://www.workforce-resource.com/dpr/listing/MFRMLS/TB8553595?w=Agent&skip_sso=true |
| Dprurl 2: | https://www.workforce-resource.com/dpr/listing/MFRMLS/TB8553595?w=Customer |
| Dpryn: | Yes |
| Est Annual Market Income: | 57000.00 |
| Flood Zone Code: | X |
| Flood Zone Date: | 2016-12-22 |
| Flood Zone Panel: | 12105C0311G |
| Green Verification Count: | 0 |
| Listing Exclusion Yn: | No |
| Living Area Meters: | 222.97 |
| Lot Size Square Meters: | 1613 |
| Sdeo yn: | No |
| Terms Of Lease: | Gross Lease |
| Total Acreage: | 1/4 to less than 1/2 |
| Total Num Buildings: | 2 |
| Unit Count: | 4 |
| Unit Number Yn: | No |
| Water Access Yn: | No |
| Water Extras Yn: | No |
| Water View: | No |
| Association 2 Yn: | 0 |
| Attribution Contact: | 727-822-9111 |
| Originating System Name : | Stellar MLS |
| Green Energy Generation Yn: | No |
| Listing Contract Date: | 2026-09-30 |
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Property Last Updated: October 09, 2026 06:59 AM - ET
