Multifamily
Julian Hills
2200 Clover Ridge Ct, Eagle Lake, FL 33839
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to present Julian Hills, a 73-unit multifamily residential complex built in 1982 & 1985, nestled in the serene environment of Eagle Lake, positioned within the booming Lakeland/Winter Haven Metropolitan Statistical Areas (MSAs). This low density site consists of one, two, and three-bedroom units with an average rentable Sq. Ft. 770 Sq. Ft./unit. Julian Hills offers investors deep operational value-add upside, coupled with the ability to add washer/dryer appliances to the already renovated units for an additional rental premium. Julian Hills is located directly south of Downtown Winter Haven and offers tenants ease of access on US-17 (38,000 AADT).
Julian Hills
Investment Highlights
- 73-Unit Multifamily Asset Consisting Of 19 Buildings With Close Proximity To Polk Parkway And All Amenities Of Downtown Winter Haven
- All But Three Units Have Been Fully Renovated With Granite Countertops, Shaker Cabinets, Tile Flooring, Updated Appliances, Along With All Roofs Being Replaced In 2018
- Currently, The Property Is Operating At A 9% Loss To Lease Level, Which Offers An Investor The Ability To Increase Topline Revenue By A Sizeable Amount as Leases Turn
- An Investor Has The Ability To Add Washer/Dryer Appliances For An Additional Rental Premium, Allowing An Investor To Convert The Laundry Facility Into A Resident Lounge As An Additional Amenity
- With Open Green Space, There Is Further Upside By Adding Exterior Amenities Such As A Pergola With Edison Lights, Playground, Dog Park, And Possible Swimming Pool
Listing Price: Request For Offer
Investment Highlights
- 73-Unit Multifamily Asset Consisting Of 19 Buildings With Close Proximity To Polk Parkway And All Amenities Of Downtown Winter Haven
- All But Three Units Have Been Fully Renovated With Granite Countertops, Shaker Cabinets, Tile Flooring, Updated Appliances, Along With All Roofs Being Replaced In 2018
- Currently, The Property Is Operating At A 9% Loss To Lease Level, Which Offers An Investor The Ability To Increase Topline Revenue By A Sizeable Amount as Leases Turn
- An Investor Has The Ability To Add Washer/Dryer Appliances For An Additional Rental Premium, Allowing An Investor To Convert The Laundry Facility Into A Resident Lounge As An Additional Amenity
- With Open Green Space, There Is Further Upside By Adding Exterior Amenities Such As A Pergola With Edison Lights, Playground, Dog Park, And Possible Swimming Pool
Investment Overview
Marcus & Millichap is pleased to present Julian Hills, a 73-unit multifamily residential complex built in 1982 & 1985, nestled in the serene environment of Eagle Lake, positioned within the booming Lakeland/Winter Haven Metropolitan Statistical Areas (MSAs). This low density site consists of one, two, and three-bedroom units with an average rentable Sq. Ft. 770 Sq. Ft./unit. Julian Hills offers investors deep operational value-add upside, coupled with the ability to add washer/dryer appliances to the already renovated units for an additional rental premium. Julian Hills is located directly south of Downtown Winter Haven and offers tenants ease of access on US-17 (38,000 AADT).
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