$750,000 Multifamily for Sale — 520 S Broadway Ave, Bartow, FL 33830, USA

520 S Broadway Ave, Bartow, FL 33830, USA

Summary

This is a multifamily property for sale at 520 S Broadway Ave, Bartow, FL 33830, USA, listed at $750,000. The property has 5 units, 3,767 square feet, built in 1910. Financials show net operating income of $64,629, a 8.6% cap rate, gross income of $82,200 based on seller figures. This deal offers seller financing and creative financing.

Key facts

Asking price: $750,000
Property type: Multifamily
Cap rate: 8.6%
NOI: $64,629
Gross income: $82,200
Price / unit: $150,000
Expense ratio: 20.6%
Units: 5
Building SF: 3,767
Lot (acres): 0.18
Year built: 1910

Description

Investor-ready five-unit multifamily property located near historic downtown Bartow. The approximately 3,900+ SF building offers a diversified unit mix consisting of three 2-bedroom/1-bath apartments, one 1-bedroom/1-bath apartment, and one studio. Current underwriting reflects approximately $67,766 in annual NOI and a 9.04% cap rate at the asking price, subject to buyer verification of income and expenses. The property has undergone substantial capital improvements and repositioning, including: * New roof — 2021 * Electrical improvements — 2021 * New HVAC system — 2022 * Exterior vinyl siding — 2024 * New rear stairs and porch improvements * Plumbing improvements throughout — 2025 * Extensive unit renovations completed during 2026 * New flooring, appliances, fixtures, and interior finishes in multiple units * New laundry room configured for two washers and two dryers — 2026 * New motion lighting installed throughout the exterior and common areas >> Electric and water<< ARE currently included in the rents and average approximately $600 per month combined. Routine maintenance has averaged approximately $100 per month, and the property is currently self-managed without a third-party management fee. Additional value-add opportunities include final unit stabilization, continued rent optimization, and potential ancillary income from the newly constructed laundry facility. Current rent roll, operating information, and capital-improvement history are available to qualified buyers. Tours are by appointment only. Please do not disturb tenants.