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453 S Westgate Ave

28 Unit Apartment Building $3,400,000 ($121,429/Unit) 6.41% Cap Rate Lakeland, FL 33815

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INVESTMENT HIGHLIGHTS

1980's single story concrete block
Tenants pay for all utilities
0.5 miles from Publix Corporate Headquarters

All two-bedroom units
Value-add opportunity
1.40 miles from Downtown Lakeland and its numerous boutique restaurants, shops, breweries and lakes

PROPERTY FACTS Under Contract

Price	$3,400,000	Building Class	C
Price Per Unit	$121,429	Lot Size	2.02 AC
Sale Type	Investment	Building Size	23,598 SF
Cap Rate	6.41%	Average Occupancy	95%
No. Units	28	No. Stories	1
Property Type	Multifamily	Year Built	1979
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low Rise

Price	$3,400,000
Price Per Unit	$121,429
Sale Type	Investment
Cap Rate	6.41%
No. Units	28
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	2.02 AC
Building Size	23,598 SF
Average Occupancy	95%
No. Stories	1
Year Built	1979
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.