$589,500
Active · 206 days on market · MLS# MFRTB8344133
| Bedrooms | 4 |
|---|---|
| Living area | 1,800 sq ft |
| Lot size | 1.31 acres |
| Year built | 2005 |
| Property type | Multi Family |
| Private pool | Yes |
| Waterfront | Yes |
| Annual taxes | $3,731 |
| County | Polk |
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!
Listing courtesy of Audrey Johnson, FUTURE HOME REALTY INC. Presented by MC Homes Realty Inc · 727432218.