- For Sale $975,000
- Property Type Multi-Family
- Property Size 6,720 SF
- Units 10
- Lot Size 0.92 Acre
- Year Built 1973
- Date Updated Jun 6, 2026
Description
Located Just off N Church Ave/Hwy 37 in Mulberry.We are pleased to present this investment opportunity in Mulberry Florida, only 5 minutes from Lakeland. This is a 10-unit property offering tremendous value-add.
The asset comprises five duplex buildings, all featuring traditional 2-bedroom, 1-bathroom units (a portion of which are fully renovated).
The current vacancies, resulting from a recent management change and deferred maintenance, are a direct value-creation opportunity for a new owner. Several of the units have and continue to be rehabilitated. The buildings have all been pressure washed and the buildings sit on almost 1 acre.
There is separate parking for each of the buildings, and the property has a central mailbox system.
As for location, it has excellent connectivity via N Church Ave/SR 37 in Mulberry. State Road 60 runs east and west through the state, and SR 37 is also known as Florida Ave, which runs through Lakeland.
Highlights
- 4 vacant units at present, as new management company gets situated, with some units also needing renovation
- 5 duplex style structures on almost an acre of land with 10 units. Tremendous upside - current under market rents can be raised
- All buildings have recently been pressure washed
- All units are 2/1 traditional apartment and several of the units have been rehabbed - this work continues
- Currently managed by a 3rd party company - could be transitioned to new owner management
- Each structure has space for tenant parking. Central fenced trash receptacle on site, and there is a central mailbox area for the tenants
- Great income opportunity, with proforma numbers conservatively reflecting north of $150,000 annually. Current rents are under market
- Rent roll available
- Tenants pay their own electric, Landlord pays water and sewer
- There are code enforcement issues at the property, which are being addressed, as well other other issues from different properties tied to the entity. The brokers can provide more details
- Utility Providers - TECO for electric, water and sewer provided by the City of Mulberry
- Zoned RL-4, Unincorporated Polk County
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Contacts
Craig Morby
Saunders Real Estate
Location
Contact Listing Broker
Craig Morby
Saunders Real Estate
