Taylor & Payne
Closed1330 Payne St, Auburndale, FL 33823
Property type
Multifamily
Unit / Space count
18
Price
$2,040,000
Building size
13,348 sf
Rentable area
13,348 SF
Year built
1982
Year renovated
Occupancy
Stories
1
APN
25-28-18-346500-000790, 25-28-18-346500-000841, 25-28-18-346500-001490, 25-28-18-346500-00081, 25-28-18-347000-003103, 25-28-18-346500-001540
Zoning code
Lot size
1.36 Acres
Unit mix
16x
2br
2x
-br
Bedroom count
Price per Unit
$113,333
Price per SF
$152.83
Property description
The Taylor & Payne Portfolio consists of two properties with a total of 18 units, strategically located within walking distance of each other in Auburndale, FL. Built in the 1980s with durable concrete block construction, this community offers a favorable unit mix with 89% of the floorplans as spacious two-bedroom units. Auburndale is ideally situated along the rapidly expanding I-4 industrial corridor, and just 15 minutes from downtown Lakeland, which offers employers including Publix Corporate Headquarters, Lakeland Regional Health, and an Amazon Fulfilment Center, among many others. Lakeland, ranked as the 18th fastest-growing city in the U.S. in 2024, has experienced a significant population growth of 9.81% since the 2020 census, offering strong investment potential. The Taylor & Payne Portfolio provides a buyer with an achievable monthly rental upside of $163 per unit following light interior renovations. This upside is supported when compared to similar properties in the area, making this an exceptional opportunity in a high-growth market. Additionally, there are on-site laundry facilities which provide additional income opportunities for owners, while also enhancing the tenant experience. As a cherry on top, the seller will also include approximately 1/4 acre of land in the sale (located at 1225 Taylor St), located directly across from the Taylor St property, offering potential for future development and the addition of more units to increase returns.
Property highlights
- 18-Units Between Two-Properties That are Located Less Than 0.2 Miles from Each Other
- 1980’s Concrete Block Construction with 89% 2 Bedroom Floorplans
- Monthly Rental Upside of $163+ When Compared to Comparable Properties around Auburndale
- Laundry Facilities at Each Property Provide Additional Income Streams and Amenities to Tenants
- Additional ~1/4 AC of Land (1225 Taylor St) Across from Taylor St Property Provides Potential to Build Additional Units
- Ideally Positioned Along the Rapidly Growing I-4 Industrial Corridor and Just a 15-Minute Drive from Downtown Lakeland
- Lakeland Ranks as the 18th Fastest Growing City in the US in 2024 (US News & World Report) with Population Growth of 9.81% Since the Most Recent Census in 2020 (World Population Review)
- Conveniently Located Near Retailers & Restaurants Including Aldi (2.4 Mi), Lowes (2.4 Mi), Walmart Supercenter (2.5 Mi), Publix (5.1 Mi), Sam's Club (10.6 Mi) and Target (13.7 Mi)
- Nearby Major Employers Include Publix Corporate Headquarters (13.7k Employees), Lakeland Regional Health (5.9k Employees), Amazon (5k Employees), Geico Corporate Headquarters (3.7k Employees), and the City of Lakeland (2.8k Employees)