Residential Land for Lease in Winter Haven, Florida

SP Multifamily Group is pleased to present Terra Hill Estates, a 76-unit low-density multifamily community in Winter Haven, FL, offering a proven value-add opportunity, with 62% of units remaining to be renovated.

Featuring a differentiated single-story, residential-style layout with direct unit access, the property has already demonstrated achievable rent premiums and presents a clear, scalable path to continued NOI growth. With 47 classic units remaining, a new owner can execute a disciplined, unit-by-unit renovation strategy to drive rent increases and operational upside. Post-renovation, rents are projected to remain at a 15%-20% discount to nearby Class-A communities, supporting strong occupancy and sustained demand. The asset is further supported by multiple demand drivers within the Lakeland-Winter Haven MSA, including logistics expansion, tourism growth, and emerging innovation-based employment within the immediate corridor.

• Differentiated Low-Density, Residential-Style Layout | Single-story community with direct unit access and private driveways creates a living experience unlike most multifamily properties
• 62% Value-Add Remaining | 47 remaining classic units provide a clear and scalable path to continued rent growth
• Proven Renovation Upside | Ownership has achieved $100+ rent premiums on renovated units, supporting strong returns on remaining upgrades
• Positioned Below New Supply | Pro Forma rents are projected to remain 15%-20% below Class-A properties, supporting occupancy and demand over time
• Immediate Income Upside | Lease-up of non-revenue unit adds approximately $18K in annual income
• Strong Market Fundamentals | Located in one of the nation's fastest-growing metros, supported by logistics, tourism, and innovation-driven employment