5520 3rd St SE Highland City, FL 33846
Estimated payment $3,747/month
Highlights
- 1.31 Acre Lot
- No HOA
- Walk-In Closet
- Bartow Senior High School Rated A-
- Built-In Features
- Central Heating and Cooling System
About This Home
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:*Gross Revenue: $54,428 *Estimated Expenses: $12,160 * NOI $42,260 and CAP Rate 6.73% *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: Your proforma Cap Rate 8.5% 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 Agent
FUTURE HOME REALTY INC Brokerage Phone: 813-855-4982 License #3372386 Listed on: 02/10/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,731
Year Built
- Built in 2005
Home Design
- Pillar, Post or Pier Foundation
- Steel Frame
Interior Spaces
- 1,800 Sq Ft Home
- Built-In Features
- Window Treatments
- Combination Dining and Living Room
Flooring
- Laminate
- Vinyl
Bedrooms and Bathrooms
- 4 Bedrooms
- Split Bedroom Floorplan
- Walk-In Closet
- 4 Bathrooms
Laundry
- Laundry in unit
- Washer and Electric Dryer Hookup
Utilities
- Central Heating and Cooling System
- Thermostat
- Septic Tank
Additional Features
- Exterior Lighting
- 1.31 Acre Lot
Listing and Financial Details
- Legal Lot and Block 1 / 7
- Assessor Parcel Number 24-29-14-283000-020710
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 8 Units
- Haskell Subdivision
Building Details
- Operating Expense $12,776
- Gross Income $54,428
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/02/2025 05/02/25 | Price Changed | $627,500 | -4.6% | $349 / Sq Ft |
| 02/10/2025 02/10/25 | For Sale | $657,500 | +134.8% | $365 / Sq Ft |
| 12/09/2019 12/09/19 | Sold | $280,000 | -13.8% | -- |
| 10/24/2019 10/24/19 | Pending | -- | -- | -- |
| 10/23/2019 10/23/19 | For Sale | $324,900 | 0.0% | -- |
| 10/18/2019 10/18/19 | Pending | -- | -- | -- |
| 10/08/2019 10/08/19 | For Sale | $324,900 | 0.0% | -- |
| 07/23/2019 07/23/19 | Pending | -- | -- | -- |
| 05/21/2019 05/21/19 | For Sale | $324,900 | -- | -- |
Source: Stellar MLS
MLS Number: TB8344133
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Listing Information presented by local MLS brokerage: Ten-X - (888)-952-6393
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