Overview
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.
Investment Highlights
- Rare Opportunity to be able to Acquire an Irreplaceable, Infill Lakefront Property Located in Downtown Winter Haven.
- Elevator Serviced Concrete Block Asset with Climate Controlled Interior Corridors. Originally Conceived as a Condo Building.
- Property can be Acquired Free and Clear or by Loan Assumption: Balance of $7,463,268, 3.15% Interest Rate (10 Year Term, 30 Year AM, Origination Date 7/3/2020, Maturity Date 8/1/2030).
- Desirable Unit Mix Featuring One, Two, and Three-Bedroom Units Averaging a Market Leading 1,225 Square Feet. Tremendous Mark-to- Market Opportunity with Rents Per Square Foot 35% Below Compset Average.
- Opportunity to Upgrade 42% of the Property from Classic or Partially Upgraded Finishes to Fully Upgraded Finishes. Given Current Tenant Demands and Design Trends there is also an Opportunity to Further Augment Fully Upgraded Units to Obtain Additional Premiums.
- Opportunity for New Ownership to Capitalize on Unobstructed Lake Views by Charging Tenants an Additional $100 Per Month Premium.
- Well Amenitized Featuring a Resort-Style Pool with Expansive Sun Deck, Lighted Tennis Court, Resident Clubhouse, Gym, His/Her Saunas, Lakeside Dock with Boat Slips and Covered Parking.
- Ability to Reconfigure Under Utilized Community Room to State-of-the- Art Fitness Center or Other Resident Amenity Area.
- Ideal Location Along Lake Howard, a Highly Walkable District, with Neighborhood Amenities that Include Lake Howard, Central Park, 50+ Restaurants & Bars, 100+ Retail Stores, Professional Services, and Live Entertainment.
- Polk County Ranks #1 on the 20 Fastest-Growing Counties in Florida (2024) & Job Growth is Forecasted to Reach 43.7% Over the Next 10 Years (Exploding Topics).
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