5520 3rd Street Se, Lakeland, FL 33812
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Priced at Only: $627,500
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Address: 5520 3rd Street Se, Lakeland, FL 33812
Property Location and Similar Properties
- MLS#: TB8344133 ( Multi-Family )
- Street Address: 5520 3rd Street Se
- Viewed: 3
- Price: $627,500
- Price sqft: $0
- Waterfront: No
- Year Built: 2005
- Bldg sqft: 0
- Bedrooms: 4
- Total Baths: 4
- Days On Market: 87
- Additional Information
- Geolocation: 27.9651 / -81.8755
- County: POLK
- City: Lakeland
- Zipcode: 33812
- Subdivision: Haskell
- Provided by: FUTURE HOME REALTY INC
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DescriptionGreat 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 homeswill be fully tenant owned by 2026and 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 several septic tanks. Financials:*2024 Gross Revenue: $52,513 *Estimated Expenses: $12,776 * NOI $39,736 and CAP Rate 6.3% *Potential for an additional $10,000+ 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: Easily increase your cap rate on your first year to 8.3% with minimal effort. This property is ready for immediate returns with plenty of room for growth. Dont miss out on this exceptional opportunity to secure a solid, income generating asset in a rapidly growing market!
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- Possible terms: Cash, Conventional, Other
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