| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 52nd | Best |
| Amenities | 9th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4949 Hickory Tree Ln, Lakeland, FL, 33805, US |
| Region / Metro | Lakeland |
| Year of Construction | 2008 |
| Units | 27 |
| Transaction Date | --- |
| Transaction Price | $1,764,000 |
| Buyer | DD LAKELAND LLC |
| Seller | NATIONAL INDUSTRIAL DEVELOPMENT CORP |
4949 Hickory Tree Ln Lakeland Multifamily — 2008 Vintage, 27 Units
Neighborhood fundamentals point to a stable renter base and resilient occupancy, according to WDSuite’s CRE market data. The asset’s 2008 construction positions it competitively versus older local stock while supporting operational consistency.
Positioned in Lakeland’s inner-suburban fabric, the property benefits from a renter-centric neighborhood profile and steady occupancy. The neighborhood’s occupancy rate trends in the top quartile among 184 metro neighborhoods and above national norms, a signal for near-term leasing stability (per WDSuite). Median contract rents have risen over the past five years, and forward-looking data signal continued rent growth, supporting income durability if lease management remains disciplined.
Renter-occupied housing has a high concentration locally, indicating depth in the tenant pool and consistent renewal prospects for multifamily. In contrast, the immediate micro area is amenity-light (few restaurants, cafes, parks, and pharmacies within close range), so residents typically rely on nearby corridors for daily needs. For investors, this mix suggests a practical workforce housing dynamic where commute access and price-to-value matter more than lifestyle retail at the doorstep.
Within a 3-mile radius, population and household counts have increased over the last five years, with forecasts calling for further population growth and a larger household base by the mid-term. This points to renter pool expansion that can support occupancy stability and absorption for well-managed assets. Household incomes have also advanced, reinforcing the ability to sustain rent levels without overextending affordability.
Relative to the metro and national landscape, the neighborhood scores competitive on occupancy and demand drivers but trails on immediate amenities. For multifamily property research, the takeaway is straightforward: expect demand to be supported by a sizable renter base and growing households, while underwriting should account for limited walkable amenities and emphasize access, operations, and pricing discipline.
Based on WDSuite’s benchmarks, the neighborhood rates above the metro median for safety and sits in a higher national percentile compared with many U.S. neighborhoods, indicating comparatively favorable conditions. Year over year, both property and violent offense rates have declined, a constructive trend that supports renter retention and leasing confidence.
As always, safety conditions vary by block and over time. Investors typically validate these patterns with on-the-ground checks and recent comparables, but current data indicate a positive trajectory and positioning that is competitive among Lakeland-Winter Haven neighborhoods.
The employment base features nearby corporate offices that support workforce housing demand and commuting convenience, including grocery retail, industrial gases, insurance, healthcare distribution, and fertilizers. These anchors can contribute to steady tenant demand and lease retention.
- Publix Super Markets — grocery retail (8.3 miles) — HQ
- Mosaic — fertilizers & chemicals (20.8 miles)
- Airgas Specialty Products — industrial gases (23.1 miles)
- MetLife Insurance Company — insurance (26.5 miles)
- Cardinal Health — healthcare distribution (29.8 miles)
This 2008-vintage, 27-unit asset offers exposure to a renter-heavy Lakeland submarket where neighborhood occupancy ranks among the metro’s stronger performers. According to CRE market data from WDSuite, the area’s renter concentration and steady rent trajectory point to durable demand, while 3-mile radius demographics indicate population growth and a rising household base that can support long-run absorption.
The 2008 construction is newer than the local average vintage, which can enhance competitive positioning versus older stock and potentially temper near-term capital needs. That said, investors should plan for aging systems and selective modernization to sustain pricing power. Limited walkable amenities in the immediate micro area and potential competition from ownership options warrant conservative underwriting on lease-up velocity and renewal assumptions.
- Occupancy stability supported by high renter concentration and competitive neighborhood ranking
- 2008 vintage offers relative competitiveness versus older local stock with manageable capex planning
- 3-mile population and household growth expand the tenant base and support absorption
- Nearby corporate employers underpin workforce demand and commuting convenience
- Risks: amenity-light micro area and potential ownership competition call for disciplined rent and renewal strategies