$1,125,000
Description
Under contract-accepting backup offers. TREMENDOUS INCOME OPPORTUNITY! Located in one of the fastest growing areas of South Lakeland, this is multifamily development, consisting of 6 park owned mobile homes, and 7 single family (small) homes. The six mobile homes are part of the Florida Mobile Home Registry under Pa-pa Bears Mobile Home park. The other 7 homes are part of the same parcel - each have a separate mailing address. Current annual income of $131,580, with upside to grow to another 10% quickly. Lakeland and Polk County are among the fastest growing places in the U.S., as the City sits in the middle of Tampa and Orlando on the I-4 corridor. In the immediate area, new apartment developments have been built, and several shopping areas, including Publix, across the street. There are primary, middle and high schools very close by, and the main thoroughfare, US 98 stretches from the north side of Lakeland to the south side. The annual rental income is $131,560, and all expenses are detailed and accounted for, giving us a current cap rate of 8.26%
Listed by Craig Morby, .
Property Highlights
- Property Type: Multi Family
- MLS #: O6203342
Room Information
| Laundry | Other |
Property Features
| Basement | Crawl Space |
| Construction Materials | Concrete |
| Cooling | Central Air, Wall/Window Unit(s) |
| Heating | Central, Other |
| Interior Features | Other |
| Interior Square Footage | 7,420 |
| Lot Size Acres | 1.52 |
| Lot Size Dimension | 260x127 |
| Lot Size Square Feet | 66,041 |
| Roof | Metal, Other |
| Sewer | Septic Tank |
| Stories | One |
| Water Source | Public |