Tom Watson

Tom Watson is a portfolio sale of 4 parcels located across the street from each other containing 16-units in Lakeland, Florida in Polk County. The parcels combine for 1.39 acres with 8 single-story duplexes consisting of 16 two-bedroom/one-bathroom units averaging 833 square feet. All eight buildings were built between 1977-1981, constructed of concrete block with pitched shingle roofs. Each of the units feature central HVAC and washer/dryer hookups while being individually metered for electric. Residents are billed back a flat fee of $65 per unit per month for water, septic 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 7%+ increase to the NOI and achieve a 7.90%+ cash-on-cash return within the first 24-months of ownership.

Tom Watson 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 as 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.