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LAKELAND, FL 33812 5520 3RD STREET SE

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Presented By: FUTURE HOME REALTY INC with 813-855-4982. - 813-855-4982
  • MLS# TB8344133
  • 02/10/2025
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  • Beds • 4
  • Baths • 4
  • SQFT • 1,800

Home Details

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!
Presented By: FUTURE HOME REALTY INC with 813-855-4982. - 813-855-4982

Interior Features for 5520 3RD STREET SE

Bedrooms

Total Bedrooms4

Bathrooms

Total Baths4

Other Interior Features

LivingAreaSourceOwner
Air Conditioning Y/NYes
Fireplace Y/NNo
FlooringLaminate, Vinyl
Heating Y/NYes
Interior AmenitiesBuilt-in Features, Living Room/Dining Room Combo, Split Bedroom, Thermostat, Walk-In Closet(s), Window Treatments
Laundry FeaturesElectric Dryer Hookup, Inside, Washer Hookup

General for 5520 3RD STREET SE

Additional Parcels Y/NNo
Building Area UnitsSquare Feet
Carport Y/NNo
CityLAKELAND
Construction MaterialsMetal Frame
CoolingCentral Air
CountyPolk
DirectionsUS 98 South to Clubhouse Road to Address.
DockY/NNo
Flood Zone CodeX
Flood Zone Code XY
Garage Y/NNo
Gross Income54428
HeatingCentral
Land Lease Y/NNo
Legal DescriptionHASKELL 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
Listing TermsCash, Conventional, Other, Lease Purchase
Living Area UnitsSquare Feet
Lot Size Square Feet56876
Lot Size UnitsAcres
MLS Area33812 - Lakeland
New ConstructionNo
Number Of Units Total8
Ok to Lease12 Months
OwnershipFee Simple
Property SubtypeMulti Family
Property TypeResidential Income
RoofOther
Senior Community Y/NNo
SewerSeptic Tank
Standard StatusActive
StatusActive
Subdivision NameHASKELL
Tax Annual Amount3730.74
Tax Lot1
Tax Year2024
Tenant PaysElectricity, Water
UtilitiesElectricity Connected, Street Lights, Water Connected
Virtual TourClick here
Water Access Y/NNo
Water View Y/NNo
Year Built2005
ZoningR-4

Exterior for 5520 3RD STREET SE

Exterior AmenitiesLighting
Foundation DetailsPillar/Post/Pier
Lot Size Acres1.31
Lot Size Area1.3057
Number of Buildings2
Private PoolNo
Road Surface TypePaved
SpaNo
Water SourcePublic
Waterfront Y/NNo

Additional Details

Price History

Schools

High School Hubert H Humphrey Middle School
Middle School N/A
Elementary School Big Hollow Elementary School

Steven Silcock

Broker Owner
Price $589,500
MLS#TB8344133
List Date 02/10/2025
Property Type Income
Phone 407.574.0218
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