5520 3RD ST SE, LAKELAND, FL, 33812
$589,500
Residential Income
Bedrooms
4
Bathrooms
4
Living Area
1,800 Sqft
Lot Size
56,876 Sqft
Great Investment Opportunity with stable income stream in Lakeland/Highland City, Florida! Located in a prime area just off the high-traffic State Road 98, a walk distance to restaurants and shopping plaza. This well-maintained mobile home park offers a fantastic opportunity for both new investors or those looking to expand their portfolio. Key Features:(1) 8 total spaces include 2 rent-to-own homes—will be fully tenant-owned by 2026—and 5 tenant-owned homes with lot rent only) 1 vacant space with significant potential (2) Well-run park with strong tenant retention and consistent revenue streams. (3) Tenants are separately metered for water and electric City water with 3 septic tanks. Financials:*Gross Revenue: $54,428 *Estimated Expenses: $12,122 * NOI $42,305 and CAP Rate 7.18% *Potential for an additional $15,000+ in revenue by increasing lot rents and implementing trash charge-backs *Filling the vacant space could bring an additional $14,400-$16,800 annually. Investor Opportunity: Your proforma Cap Rate 9.48% with minimal effort. This property is ready for immediate returns with plenty of room for growth. Don’t miss out on this exceptional opportunity to secure a solid, income-generating asset in a rapidly growing market!
Property Details
Property Features Property Features
MLS ID: MFRTB8344133 Year Built: 2005
Community Features: Street Lights Construction Materials: Metal Frame
Cooling: Central Air Country: US
County Or Parish: Polk Exterior Features: Lighting
Financial Data Source: Owner Flooring: Laminate, Vinyl
Foundation Details: Pillar/Post/Pier Heating: Central
Laundry Features: Electric Dryer Hookup, Inside, Washer Hookup Lease Term: Twelve Months
Listing Agreement: Exclusive Right To Sell Listing Terms: Cash, Conventional, Other
Property Sub Type: Multi Family Property Type: Residential Income
Road Surface Type: Paved Roof: Other
Sewer: Septic Tank Showing Requirements: Appointment Only, Call Listing Agent, Do Not Contact Tenants, See Remarks, ShowingTime
Special Listing Conditions: None Standard Status: Active
State Or Province: FL Tenant Pays: Electricity, Water
Utilities: Electricity Connected, Water Connected Water Source: Public
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