Active

$589,500

Features:
  • 4 Bedrooms
  • 4 Bathrooms
  • 1800 sq ft
Overview
  • ID: MFRTB8344133
  • Bedrooms: 4
  • Bathrooms: 4
  • Size: 1800 sq ft
Property Details
Remarks
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!
Financial Considerations
Price:
$589,500
HOA Fee:
N/A
Tax Amount:
$3730.74
Price per SqFt:
$327.5
Tax Legal Description:
HASKELL PB 1 PG 5A TIER 2 BLK 7 LOTS 1 3 THRU 8 & NLY 1/2 OF CLOSED ALLEY LYING SWLY OF LOT 1 & CLOSED ALLEY LYING BETWEEN LOTS 3 THRU 8
Exterior Features
Lot Size:
56876
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
N/A
Roof:
Other
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
4
Bathrooms:
4
Heating:
Central
Cooling:
Central Air
Appliances:
N/A
Furnished:
No
Floor:
Laminate, Vinyl
Levels:
N/A
Additional Features
Property Sub Type:
Multi Family
Style:
N/A
Year Built:
2005
Construction Type:
Metal Frame
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
Lighting
Additional Features 2:
N/A
Map
  • Address
    5520 3RD ST SE
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