| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 40th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 819 E Lemon St, Lakeland, FL, 33801, US |
| Region / Metro | Lakeland |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | 2017-01-19 |
| Transaction Price | $850,000 |
| Buyer | RENT LAKELAND LEMON STREET LLC |
| Seller | LEMON STREET APARTMENTS TW LLC |
819 E Lemon St Lakeland Multifamily Investment
Renter concentration and improving neighborhood trends point to durable tenant demand near central Lakeland, according to WDSuite’s CRE market data.
Lakeland’s inner-suburb location around 819 E Lemon St blends everyday convenience with steady renter appeal. Grocery access and parks test well versus the metro (both competitive among 184 Lakeland–Winter Haven neighborhoods), and childcare density is strong. By contrast, pharmacies and cafes are sparse, which may modestly limit walkable errands but does not preclude daily needs given nearby retail corridors.
School quality trends as top quartile among 184 metro neighborhoods on average rating, offering a relative advantage for family renters. Neighborhood-level renter concentration is elevated, indicating a deep base of renter-occupied housing units that typically supports leasing velocity and renewals. However, neighborhood occupancy has trailed the metro median in recent years, so underwriting should account for leasing cadence and potential concessions in weaker months.
Within a 3-mile radius, demographics show a stable population with expectations for population growth and a notable increase in households by the mid-term outlook. A larger household count alongside slightly smaller average household sizes generally expands the renter pool, supporting occupancy stability for well-managed assets. Median contract rents in the surrounding area have risen over the last five years and are projected to increase further, reinforcing the case for disciplined revenue management rather than outsized growth assumptions.
Ownership costs in the neighborhood are on the higher side relative to incomes (above national midline by value-to-income measures), which tends to sustain reliance on rental housing and can aid tenant retention for competitively positioned properties. The subject’s 1986 vintage is newer than the neighborhood’s mid-century average, providing a relative edge versus older stock while still warranting capital planning for systems modernization and selective interior upgrades to support rent positioning.
Safety indicators show mixed but improving signals. Compared with other Lakeland–Winter Haven neighborhoods (184 total), the area’s crime rank sits on the less favorable end of the metro distribution, warranting ongoing operating diligence and lighting/security best practices. Nationally, however, the neighborhood compares above average, and both violent and property offense estimates have moved downward year over year, indicating a constructive trend that can support resident retention if maintained.
Proximity to established employers supports a broad renter base and commute convenience for workforce tenants, notably in grocery retail, industrial chemicals, and insurance/health services reflected below.
- Publix Super Markets — grocery retail HQ (4.8 miles) — HQ
- Mosaic — fertilizers & mining offices (16.5 miles)
- Airgas Specialty Products — industrial gases (25.2 miles)
- MetLife Insurance Company — insurance services (26.7 miles)
- Cardinal Health — healthcare distribution (27.5 miles)
This 20-unit property built in 1986 offers a practical balance of workforce demand drivers and asset-level improvement potential. The neighborhood carries strong grocery and park access, elevated renter concentration, and school performance that ranks in the top quartile locally, while metro-relative occupancy has been softer—suggesting careful lease-up planning and competitive finishes will matter. Based on commercial real estate analysis sourced from WDSuite, the surrounding 3-mile area shows stable population today with an expected increase in households, enlarging the renter pool and supporting steady absorption for well-managed units.
The asset’s newer-than-neighborhood vintage positions it competitively versus older housing stock, with scope for targeted systems updates and interior refreshes to sharpen pricing power. Ownership costs trend higher relative to incomes locally, which generally sustains renter reliance on multifamily housing; disciplined operations, security best practices, and amenity prioritization can help capture that demand while navigating periodic softness in neighborhood occupancy.
- Established renter base and strong local amenities underpin demand
- 1986 vintage offers competitive positioning with value-add upside
- 3-mile radius shows expanding household counts, supporting absorption
- Higher ownership costs favor multifamily retention and leasing stability
- Risk: neighborhood occupancy below metro norms; plan for leasing cadence and selective incentives