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$724,900

Est. payment - /mo

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5 Beds

6 Baths

3,515 SqFt

Active

608 DUNDEE RD Dundee, FL 33838

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Eloisa Morales

em@thegoldenlegacygroup.com +1(407) 584-9240

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 3,515 sqft

Price per Sqft $206

Subdivision Scenic Heights

MLS Listing ID P4937609

Bedrooms 5

Construction Status Completed

HOA Y/N No

Year Built 1986

Annual Tax Amount $5,334

Lot Size 0.340 Acres

Acres 0.34

Lot Dimensions 90x60

Property Sub-Type Multi-Family 5+

Source Stellar MLS

Property Description

This 6-unit residential income-producing property is an excellent opportunity with strong cash-flow that's located on Dundee Road, leading directly into the fast-growing town of Dundee! Boasting a 12.62% cap rate at full occupancy, this property significantly exceeds the typical 5–8% multifamily cap rate range seen across Florida, offering investors an exceptional return from day one! With a total monthly income of $8,800, this property delivers a standout return on investment & has the ability to pay for itself before you even know it. Sitting on just over 1/3 of an acre, the property offers plenty of parking & features two separate buildings: a duplex (1,384 heated sq ft) & a quadruplex (2,131 heated sq ft). The duplex features a 2BR/1BA unit currently leased for $1,500/mo. along with a 3BR/1BA unit that has been recently updated with fresh paint, warm wood-laminate flooring, & new stainless-steel appliances. This unit is currently leased for $1,800/mo. The quadruplex is a well-maintained two-story concrete-block building with a new metal roof. The two upstairs units have been recently renovated & feature upgraded wood-laminate flooring & nice kitchenettes w/ granite countertops. Both upstairs units are currently leased to the same tenant for $1,250/mo. per unit. The two downstairs units are both currently leased for $1,500/mo. per-unit on 5-year leases. One downstairs unit includes an Ansul system & a grease trap, offering flexibility for future use. Altogether, both buildings feature fresh exterior paint, giving the property strong curb appeal. Each building has its own septic system & individual water meter, along with six separate electrical meters: one per-unit. Five units are equipped with newer mini-split A/C systems, while the duplex's 3-bedroom unit features central heat/air conditioning. The duplex was originally built in 1925 with an effective year of 1992 & the quadruplex was built in 1986 with an effective year of 2000. What's unique about this property is that you get the best of both worlds, where on one side of the property sits the charming downtown area of Dundee, & on the other side boasts one of Polk County's major thoroughfares, Hwy 27, that opens you up to the cities of Winter Haven, Lake Wales, & Haines City which are some of the fastest growing in all of Florida! Interested in earning $105,600 per year in gross rental income? Schedule a showing & see firsthand just how quickly this property can become a strong hands-off income producer! This property could be subdivided & the duplex building sold separately on it's own at a price of $284,900. The MLS# for this is: P4937610. All measurements are approx & all info should be confirmed by buyer.

Location

State FL

County Polk

Community Scenic Heights

Area 33838 - Dundee

Zoning C-1

Interior

Interior Features Ceiling Fans(s), Eat-in Kitchen, Living Room/Dining Room Combo, Split Bedroom, Stone Counters, Thermostat

Heating Central, Other

Cooling Central Air, Mini-Split Unit(s)

Flooring Laminate, Tile, Vinyl

Fireplace false

Appliance Cooktop, Electric Water Heater, Range, Refrigerator

Laundry Other, Outside

Exterior

Exterior Feature Sidewalk

Parking Features Driveway, Open

Community Features Street Lights

Utilities Available BB/HS Internet Available, Cable Connected, Electricity Connected, Public, Water - Multiple Meters, Water Connected

Roof Type Metal,Shingle

Porch Covered

Garage false

Private Pool No

Building

Lot Description Sidewalk, Paved

Entry Level Two

Foundation Block, Crawlspace

Lot Size Range 1/4 to less than 1/2

Sewer Septic Tank

Water Public

Structure Type Block,Stucco,Frame

New Construction false

Construction Status Completed

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Special Listing Condition None

Virtual Tour https://www.propertypanorama.com/instaview/stellar/P4937609

Listed by Kennedy Matthews JULIE MATTHEWS GROUP LLC

GET MORE INFORMATION

+1(407) 584-9240

em@thegoldenlegacygroup.com

https://goldenlegacyflorida.com