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 |
Listing Details
| Office | FUTURE HOME REALTY INC |
|---|
Listing Map
Neighborhood Information for 5520 3rd Street Se
High Percentage of Family Households, Growing Population, Moderate Residential Turnover, Suburb of Tampa
Statistics
Number of Listings
Population Age
Home Listings Prices
Nearby Schools
| Great Schools | School Name | Distance | |
|---|---|---|---|
|
Highland City Elementary School Public - Preschool to 5Th Grade - Closest Elementry School |
0 Miles | |
|
|
Spessard L Holland Elementary School Public - Preschool to 5Th Grade |
1 Miles | |
|
Valleyview Elementary School Public - Kindergarten to 5Th Grade |
2 Miles | |
|
Polk State College Collegiate High School Public - 11Th Grade to 12Th Grade |
2 Miles | |
|
Chain Of Lakes Collegiate High School Public - 11Th Grade to 12Th Grade |
2 Miles | |
|
|
Polk State Lakeland Gateway To College Charter High School Public - 11Th Grade to 12Th Grade |
2 Miles | |
|
|
Bill Duncan Opportunity Center Public - 6Th Grade to 12Th Grade |
2 Miles |
School data provided by GreatSchools