1. Florida
2. Lakeland
3. 5520 3RD STREET SE

5520 3RD STREET SE, Lakeland, FL 33812

• 4 beds |
• 4 baths |
• 1,800 sqft

Property Description

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 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. Don’t miss out on this exceptional opportunity to secure a solid, income-generating asset in a rapidly growing market!

Listing Status:

Active

Date Added:

February 10, 2025 at 06:00AM

Listing Office:

FUTURE HOME REALTY INC : 813-855-4982

Listing Agent:

Audrey Johnson : 240-780-1814

MLS ID:

TB8344133

Interior

• General: Built-in FeaturesLiving Room/Dining Room ComboSplit BedroomThermostatWalk-In Closet(s)Window Treatments
• Laundry: Electric Dryer HookupInsideWasher Hookup
• Flooring: LaminateVinyl
• A/C: Central Air
• Heating: Central

Exterior

Construction

Location

Lot

Utilities

Financial

This listing courtesy of Audrey Johnson, FUTURE HOME REALTY INC