183 Lake Morton Dr
Lakeland, FL 33801 City of Lakeland

$2,250,000 USD

Multifamily For Sale • 1,980 SF

Property Details

Property Type Multifamily
Total Building Size 15,796 SF
Lot Size 0.51 AC
Building Class C
Year Built 1925
Zoning O-1

0 Transit Score

79 Walk Score

                
                    Highlights
                
                                The iconic Wilsonian Building in downtown Lakeland at 183 Lake Morton Drive.  Sale also includes 120 E Palmetto St., the adjoining property.
                            
                                16 Units - (8) studios with den/1 bath and (8) 1 bed/1 bath in the Wilsonian Building and (2) 2 bed/1 bath units at Palmetto.  
                            
                                Current income is $106,740 per year, however most units are well under market rates.  The proforma income could reach close to $300K
                            
                                Ample parking in the rear of the building.  Carports are currently in place, however a re-vamp of the parking space would provide much more efficiency
                            
                                Current rent roll available.  
                            
                                The adjacent 0.56 acre lot to the north is also for sale, please refer to the "Additional Lot" page. Contact listing agents for more information.