North Oak Portfolio
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North Oak Portfolio
3 Multifamily Properties Offered at $2,600,000 in Multiple Locations
Investment Highlights
- Combined Net Operating Income (NOI) of approximately $206,886, providing an attractive cap rate for investors seeking stable returns.
- Sub-metered electricity and water in most units, where tenants are responsible for their own utilities.
- All properties in this portfolio feature central air conditioning, with most units being replaced recently.
- Properties are currently fully leased with low vacancy rates, ensuring consistent and reliable income.
- City water and sewer connections in key properties ensure reliable utility services, minimizing maintenance costs and oversight.
Executive Summary
TO ACCESS ALL OFFERING MEMORANDUMS AND FINANCIALS VISIT:
www.TheAptBrokers.com
The Apartment Brokers present the North Oak 19-Unit Portfolio, a rare multifamily investment opportunity spread across three properties in Polk County, Florida.
The North Oak portfolio includes:
Northside Apartments (Lake Wales, FL): Built in 1964, this eight-unit property consists of four concrete block duplexes with pitched shingle roofs. Each unit features a 2-bedroom, 1-bathroom configuration. The property has been fully renovated in the past two years, with both electricity and water sub-metered, allowing tenants to pay for their own utilities. Trash services are included in the property taxes, keeping operational costs low. The roofs are in good condition, contributing to the property's low-maintenance appeal.
Oakcrest Apartments (Winter Haven, FL): Constructed in 1984, this eight-unit property comprises two fourplex buildings. The unit mix includes two 2-bedroom, 1-bathroom units and six 1-bedroom, 1-bathroom units, all built with a wood-frame construction and featuring pitched shingle roofs. The electricity is sub-metered, with tenants responsible for their electric bills, while water is provided by the city and paid for by the landlord. The property uses a septic tank system, also maintained by the landlord.
Haven Apartments (Winter Haven, FL): Built in 1974, this three-unit property offers all 2-bedroom, 1-bathroom units constructed from concrete block with pitched shingle roofs. Both water and electricity are sub-metered, and the property benefits from a central AC system. Sewer and water services are provided by the city.
With a total of 19 units, a mix of both 1-bedroom and 2-bedroom apartments, and well-maintained utility systems, the North Oak portfolio represents a stable, high-potential opportunity for multifamily investors looking to capitalize on the rental demand in Polk County’s growing markets.
www.TheAptBrokers.com
The Apartment Brokers present the North Oak 19-Unit Portfolio, a rare multifamily investment opportunity spread across three properties in Polk County, Florida.
The North Oak portfolio includes:
Northside Apartments (Lake Wales, FL): Built in 1964, this eight-unit property consists of four concrete block duplexes with pitched shingle roofs. Each unit features a 2-bedroom, 1-bathroom configuration. The property has been fully renovated in the past two years, with both electricity and water sub-metered, allowing tenants to pay for their own utilities. Trash services are included in the property taxes, keeping operational costs low. The roofs are in good condition, contributing to the property's low-maintenance appeal.
Oakcrest Apartments (Winter Haven, FL): Constructed in 1984, this eight-unit property comprises two fourplex buildings. The unit mix includes two 2-bedroom, 1-bathroom units and six 1-bedroom, 1-bathroom units, all built with a wood-frame construction and featuring pitched shingle roofs. The electricity is sub-metered, with tenants responsible for their electric bills, while water is provided by the city and paid for by the landlord. The property uses a septic tank system, also maintained by the landlord.
Haven Apartments (Winter Haven, FL): Built in 1974, this three-unit property offers all 2-bedroom, 1-bathroom units constructed from concrete block with pitched shingle roofs. Both water and electricity are sub-metered, and the property benefits from a central AC system. Sewer and water services are provided by the city.
With a total of 19 units, a mix of both 1-bedroom and 2-bedroom apartments, and well-maintained utility systems, the North Oak portfolio represents a stable, high-potential opportunity for multifamily investors looking to capitalize on the rental demand in Polk County’s growing markets.
Property Facts
| Price | $2,600,000 | Number of Properties | 3 |
| Price / SF | $211.57 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 12,289 SF |
| Status | Active | Total Land Area | 0.69 AC |
| Price | $2,600,000 |
| Price / SF | $211.57 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 12,289 SF |
| Total Land Area | 0.69 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 140 Avenue W NW, Winter Haven, FL 33881 | Multifamily | 2,573 SF | 1974 | - |
| 116 E Northside Dr, Lake Wales, FL 33853 | Multifamily | 4,944 SF | 1964 | - |
|
Oak Crest Apartments
118 Oak Crest Dr NW, Winter Haven, FL 33881 |
Multifamily | 4,772 SF | 1984 | - |
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