About 5520 3rd Street Se
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!
Features of 5520 3rd Street Se
| MLS® # | TB8344133 |
|---|---|
| Price | $589,500 |
| Bedrooms | 4 |
| Bathrooms | 4.00 |
| Square Footage | 1,800 |
| Acres | 1.31 |
| Year Built | 2005 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 5520 3rd Street Se |
|---|---|
| Area | Lakeland |
| Subdivision | HASKELL |
| City | LAKELAND |
| County | Polk |
| State | FL |
| Zip Code | 33812 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | No |
Interior
| Interior Features | Built-in Features, Living Room/Dining Room Combo, Split Bedroom, Thermostat, Walk-In Closet(s), Window Treatments |
|---|---|
| Heating | Central |
| Cooling | Central Air |
| Fireplace | No |
Exterior
| Exterior Features | Lighting |
|---|---|
| Roof | Other |
| Foundation | Pillar/Post/Pier |
Additional Information
| Date Listed | February 10th, 2025 |
|---|---|
| Days on Market | 258 |
| Zoning | R-4 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | FUTURE HOME REALTY INC |
|---|