| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 36th | Good |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 940 S Lake Shore Way, Lake Alfred, FL, 33850, US |
| Region / Metro | Lake Alfred |
| Year of Construction | 1973 |
| Units | 31 |
| Transaction Date | --- |
| Transaction Price | $770,000 |
| Buyer | PINNACLE INVESTMENTS & DEVELOPMENTS INC |
| Seller | RIBA PROPERTIES LLC |
940 S Lake Shore Way Lake Alfred Multifamily, 31 Units
Positioned for workforce demand in the Lakeland–Winter Haven corridor, the asset benefits from steady population growth and manageable rent-to-income dynamics according to WDSuite’s CRE market data.
Located in a suburban pocket of Lake Alfred, the neighborhood carries a B- rating and sits roughly around the metro median among 184 Lakeland–Winter Haven neighborhoods. Everyday needs are supported by a solid base of groceries and restaurants (both near the mid‑60s national percentiles), and park access tracks near the upper‑third nationally, while cafes and pharmacies are sparser. For investors, this mix suggests reliable daily convenience with selective gaps that properties can offset through on-site services or partnerships.
Neighborhood occupancy is measured for the neighborhood, not the property, and currently trails national norms with some softening over the past five years, based on CRE market data from WDSuite. That backdrop points to a competitive leasing environment where property-level execution and value positioning matter.
Construction trends skew mid‑century locally (average year 1968), and this property’s 1973 vintage is slightly newer than the neighborhood norm. For investors, that implies relative competitiveness versus older stock, while still warranting targeted capital planning for aging systems or interior modernization to support rentability.
Within a 3‑mile radius, demographic statistics show population and household expansion in recent years, with forecasts calling for further population growth and a notable increase in households. A renter-occupied share around 29% indicates a defined tenant base; growth in households points to a larger pool of prospective renters, supporting occupancy stability over time.
Home values in the area remain moderate in a national context, and a neighborhood rent‑to‑income ratio in the higher national percentiles indicates manageable affordability pressure that can aid lease retention. However, relatively accessible ownership options may create some competition for price‑sensitive renters, placing a premium on amenity programming and operational execution.
Average school ratings in the neighborhood benchmark below national norms. For family‑oriented renter segments, this may influence search patterns; assets that emphasize convenience, safety perception, and value may see steadier interest.
Safety indicators compare favorably to many neighborhoods nationwide. Overall crime sits in a higher national percentile (safer than a majority of U.S. neighborhoods), and both violent and property offense rates benchmark in the 90th‑plus national percentiles, according to CRE market data from WDSuite. Recent year‑over‑year trends show declines in estimated offense rates, reinforcing a constructive trajectory. These are neighborhood‑level signals rather than property‑specific measures and should be considered alongside standard due diligence.
- Airgas Specialty Products — industrial gases (12.8 miles)
- Publix Super Markets — corporate offices (18.2 miles) — HQ
- Mosaic — chemicals & resources (26.2 miles)
- Darden Restaurants — corporate offices (29.7 miles) — HQ
This 31‑unit, 1973‑vintage community in Lake Alfred offers exposure to a growing Central Florida renter base with supportive affordability and proximity to diversified employers across the Lakeland–Winter Haven corridor. Neighborhood‑level rents have risen meaningfully in recent years, while rent‑to‑income benchmarks suggest manageable affordability pressure that can aid retention and pricing discipline. According to CRE market data from WDSuite, neighborhood occupancy has softened versus national norms, underscoring the importance of tactical renovations and leasing strategy to differentiate.
The asset’s slightly newer‑than‑local‑average vintage provides a platform for targeted value‑add—modernizing interiors, systems, and resident experience—to compete against older product. Population and household growth within a 3‑mile radius, combined with a defined renter concentration, point to a durable tenant base that can support stabilized performance through cycles, provided operations remain tight and amenities align with workforce preferences.
- Growing 3‑mile population and households support a larger tenant base and occupancy stability
- Manageable rent‑to‑income dynamics aid lease retention and pricing power
- 1973 vintage, slightly newer than local average, with clear value‑add and modernization levers
- Employer access across Lakeland–Winter Haven underpins workforce housing demand
- Risks: neighborhood occupancy softness, uneven amenities, and below‑average school ratings require strong asset positioning