Lake Josephine Apartments
Seller Financing | Multifamily | 9 Units
Marketing description
SELLER FINANCING AVAILABLE. CONTACT LISTING AGENT FOR DETAILS
The Apartment Brokers present Lake Josephine Apartments a 9-unit waterfront multifamily asset sitting directly on the shoreline in Dundee, FL. A rare lakefront offering. The property delivers a 12.79% cash-on-cash return in-place with Year 1 proforma climbing to 13.13%, supported by a balanced unit mix of three studios, three 1BR/1BA, and three 2BR/1BA units across 3,792 SF of concrete block construction on a 1.32-acre lot.
In-place rents currently sit below market on multiple units, leaving a clear path to grow returns further without renovation risk. With the landlord covering electric, water, sewer, and trash, operations are simple and tenant turnover is straightforward
This property’s unique waterfront location enhances its appeal, offering tenants a serene living environment while also providing significant potential for investors looking to capitalize on the property’s natural setting and strong rental demand in Dundee. Lake Josephine Apartments combines solid construction, a diverse unit mix, and an unbeatable lakeside location, making it an exceptional investment opportunity in the heart of Polk County.
*DISCLAIMER: ONE UNIT IS NON-CONFORMING*
Investment highlights
- Direct Lake Josephine Frontage : a genuinely irreplaceable feature in the Polk County multifamily market; tenants get lake views and recreation, owners get a defensible asset.
- 12.79% Cash-on-Cash Return: strong day-one cash flow of $38,366 on $300,000 down, climbing to 13.13% and $39,395 in Year 1 proforma.
- Built-In Rent Upside: multiple units leased below market; loss-to-lease can be captured at natural turnover with no renovation required.
- Diversified 9-Unit Mix: 3 studios, 3 one-bedrooms, 3 two-bedrooms. Broad tenant pool and reduced concentration risk.
- Durable Concrete Block Construction: masonry walls and pitched shingle roof on a 1.32-acre lakefront parcel.
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