Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Year Built 2006
Building Area
Number of units 183

Property Description

JLL is pleased to present the opportunity to acquire 183 condominium units out of 288 total units within Sunset Lakes (the “Property”), a meticulously maintained garden-style community located in Lakeland, Florida, a region experiencing rapid economic expansion and boasting robust multi-housing fundamentals.

 

The Property offers investors multiple avenues to add value, such as: continuing a proven renovation program to generate rental premiums; acquiring additional units at a favorable basis; and improving operational efficiencies.

 

Completed in 1998, the Property has benefited from $1.15 million in recent capital improvements. With 63.5% of the total units under control, the bulk owner controls the COA and thus has influence over operational decisions made at the Property.

 

The Property is strategically located 0.25 miles from US Hwy 98 and is less than one mile from I-4, allowing residents immediate access to over 3 Million square feet of retail, as wells a growing base of employers that includes Geico, Amazon, Lakeland Regional Health Medical, and the headquarters of Publix.

Investment Highlights

  • Proven Value-Add Strategy Achieving Significant Rental Premiums
  • Potential to Buy Back Additional Units at Attractive Basis
  • Upside Through Operational Efficiencies
  • Meticulous Condition With Major Recent Capital Investments
  • Serene, Low Density, Lake-Front Setting 
  • Immediate Access to Over 3 Million SF of Retail
  • Within 15-minutes of the Area's Major Employers
  • Excellent Market Fundamentals Position Property for Sustained Rent Growth
Last Updated Date: 22 Jul 2021
Matt Mitchell
Matt Mitchell
Senior Managing Director, Tampa Office Head
License details
FL-BK3221815
Zach Nolan
Zach Nolan
Senior Director, Capital Markets
License details
FL-SL3280497

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Last Updated Date: 22 Jul 2021

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