Goodyear

Goodyear is a portfolio sale of 10-contiguous parcels containing 28-units in Lakeland, Florida in Polk County. The parcels combine for 1.78 acres with 8 triplexes and 2 duplexes. The property consists of 10, single-story buildings consisting of 9 one-bedroom/one-bathroom units averaging 550 square feet and 19 two-bedroom/two-bathroom units averaging 926 square feet. All ten buildings were built between 1984-1993, constructed of concrete block with pitched shingle roofs. All of the units feature central HVAC and washer/dryer hookups while being individually metered for electric. Residents are billed a flat fee of $65 per unit per month for water, sewer and trash. Investors are presented the opportunity to come in and immediately capitalize on the below market rents currently in-place. The current owner is already achieving the proforma rents showing proof of concept for the future owner to continue. If executed, a buyer will be able to secure a 9.50%+ increase to the NOI and achieve a 7.40%+ cash-on-cash return within the first 24-months of ownership.

Goodyear residents are less than 3-miles from major employers, entertainment centers, shops, restaurants, medical centers, academic institutions and amusement parks. The property is in proximity to major roadways giving easy access to all of the great things Lakeland and central Florida have to offer. Lakeland’s place along I-4 between Tampa and Orlando makes it one of only a few markets in the U.S. within 3 hours drive to more than 20 million people. This makes Lakeland an attractive place for people and fortune 500 companies to move to. Publix has their corporate headquarters in Lakeland, Florida, and many other major companies that have a large presence in “Swan City” include Lakeland Regional Health, GEICO, City of Lakeland, Walmart, Amazon, FedEx and Watson Clinic. Lakeland has positioned itself a top 10 boomtown by Lending Tree and ranked #7 in the U.S. News and World Report’s Best Places to move in the U.S.”. In 2024, the Lakeland MSA was the top-growing metro in Florida and fourth in the U.S.