Multifamily Property for Sale in Winter Haven, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Winter Haven, FL 33881
  • Size: 73,000 SF

Description

Terra Hill Estates is a low-density community offering a resident-style living experience that supports above-market tenant retention, reduced turnover costs, and stable operating performance relative to traditional multifamily assets. Ownership has executed a proven value-add strategy, with approximately 62% of units remaining in classic condition, providing a clear and scalable pathway for continued rent growth through a disciplined, unit-by-unit renovation program. The property also presents immediate NOI upside through the conversion of a non-revenue unit into leasable space, generating an estimated $18,000 in incremental annual income with limited capital outlay. Post-renovation, the asset is expected to maintain a meaningful pricing discount to newly delivered Class A product, positioning it to capture rent growth while preserving strong occupancy levels. This competitive positioning enhances demand durability across market cycles. Additionally, the property benefits from strong workforce housing fundamentals within the Winter Haven/Lakeland corridor, which is experiencing sustained population and employment growth. These dynamics underpin long-term rental demand and support continued income growth and asset appreciation. Investment Highlights: • Built in 1986 of concrete block, the community consists entirely of two-bedroom residences featuring semi-private patios, in-unit washer/dryers, and reserved parking • Property projected rents are positioned at a 15% - 20% discount to new Class A assets, enabling strong rent growth while maintaining occupancy stability • Immediate NOI upside opportunity exists by converting the non-revenue unit into a leasable unit, which presents a near-term ~$18K NOI increase • Low-density site (7.92 U/AC), resident-style layout drives higher tenant retention, lower turnover costs, and more stable operating performance versus traditional multifamily

Market Context

This multifamily in Winter Haven, FL is listed for sale across 73,000 SF. It has been on the market for 90 days. Compare it against other multifamily listings for sale in Winter Haven, FL — <a href="/search/sale/multifamily/florida/winter-haven">view the full market</a>.

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