Lakeshore Club presents the chance to acquire an irreplaceable infill lakefront property in the vibrant Downtown Winter Haven. This elevator-serviced, concrete block asset boasts climate-controlled interior corridors, and can be acquired either free and clear or through a favorable loan assumption. The current mortgage balance of $7,463,268 features a 3.15% interest rate with a 10-year term, and a 30-year amortization schedule.
This premier property offers a highly desirable mix of one, two, and three-bedroom units, averaging a spacious 1,225 square feet, with rents currently 35% below the market average, highlighting a substantial mark-to-market potential. With 42% of the property poised for upgrades, there’s a profitable opportunity to modernize classic or partially upgraded units and command premium rents. Additionally, capitalize on unobstructed lake views by implementing a $100 monthly premium for tenants. The well-appointed amenities include a resort-style pool, expansive sun deck, lighted tennis court, resident clubhouse, gym, saunas, and a lakeside dock with boat slips. Situated along Lake Howard in a highly walkable district, Lakeshore Club is surrounded by Central Park, over 50 restaurants and bars, 100+ retail stores, and various professional services and entertainment options. With Polk County being the fastest-growing county in Florida for 2024 and strong job growth forecasts, this property offers an exceptional investment opportunity.