South Lakeland Multi Family

TREMENDOUS INCOME OPPORTUNITY! Located in one of the fastest-growing areas of South Lakeland, this is a multifamily development consisting of 6 park-owned mobile homes and 7 single-family (small) homes. The six mobile homes are part of the Florida Mobile Home Registry under Pa-Pa Bear's Mobile Home Park. The other 7 homes are part of the same parcel; each one has a separate mailing address. Current annual income of $131,580, with upside to grow to another 10% quickly.

Lakeland and Polk County are among the fastest-growing places in the U.S., as the city sits in the middle of Tampa and Orlando on the I-4 corridor. In the immediate area, new apartment developments have been built, and several shopping areas, including Publix, across the street. There are primary, middle, and high schools very close by, and the main thoroughfare, US 98 stretches from the north side of Lakeland to the south side.

The annual rental income is $131,560, and all expenses are detailed and accounted for, giving us a current cap rate of 8.26%.

• South Lakeland/Highland City Multi Family income opportunity.
• This park is well cared for and well run. On site coordinator collects rent and is the main point of contact. Her rent is reduced, as a result.
• 6 Mobile Homes & 7 Single Family Homes on 1.52 acres and one tax parcel.
• Units are in good shape - the owner strives to have quality tenants.
• All mobile homes are park owned, and have titles. MH ages range between 1972-1990.
• Bedroom & bath mix included in rent roll below,
• Florida Mobile Home Registry lists the park under Pa Pa Bear's Mobile Home Park. License 53-54-2165884
• City water and electricity. Septic site map available. Tenants pay all utilities direct to Lakeland Electric.
• Owner pays Coastal Waste & Recycling bill. $94 per month.
• Address include 4053, 4057, 4061, 4065, 4069, and 4073 Bay Ave, 4056, 4060, 4064, 4068, and 4072 Orange Ave, and 5346 & 5350 9th St.
• Clean full income and expenses, (incl. capex) provided with agreed upon contract.
• Additional unit photos available.

For more information please visit: SVN Saunders Ralston Dantzler