Goodyear and Tom Watson Portfolio, a prime multifamily investment opportunity located in the heart of Lakeland, FL. This portfolio includes two well-maintained properties totaling 44 units, situated less than 0.7 miles apart. With 80% of the units featuring spacious two-bedroom floorplans equipped with washer/dryer connections, this portfolio offers an ideal mix for rental premiums and long-term tenant retention. The properties are built with durable concrete block construction, pitched roofs, and central HVAC systems, providing a low-risk and cost-effective operation. The value-add potential is substantial, with opportunities to further increase income through the addition of washer/dryer machines in select units and light interior renovations.
Located in one of the fastest-growing cities in the U.S. (Lakeland ranked 18th in 2024), the Goodyear and Tom Watson Portfolio stands out with significant rental upside and a projected 24% increase in effective gross income (EGI) through Stabilizing both the Utility Reimbursement Program and Increasing Rents to Suggested Market Rents. Monthly rental income could increase by $185+ when compared to similar properties in the area. The portfolio's location offers excellent connectivity, just 15 minutes from Lakeland Linder International Airport, and within close proximity to top employers such as Publix, Lakeland Regional Health, Amazon, and Geico. With Southeastern University and Florida Southern College nearby, this property also provides a steady stream of potential student tenants. Don't miss out on this exceptional investment opportunity in a thriving market.