5520 3rd Street SE Lakeland, FL 33812
For Sale MLS# TB8344133
4 beds 4 baths 1,800 sq ft Multi-family
Details for 5520 3rd Street SE
MLS# TB8344133
Description for 5520 3rd Street SE, Lakeland, FL, 33812
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!
Listing Information
Property Type: Residential, Multi Family
Status: Active
Bedrooms: 4
Bathrooms: 4
Lot Size: 1.31 Acres
Square Feet: 1,800 sq ft
Year Built: 2005
Construction: Metal Frame
Subdivision: Haskell
Foundation: Pillar/Post/Pier
Number Of Units Total: 8
County: Polk
Additonal Room Information
Laundry: Inside, Washer Hookup, Electric Dryer Hookup
Interior Features
Flooring: Laminate,Vinyl
Doors/Windows: Window Treatments
Additional Interior Features: Window Treatments, Split Bedrooms, Living/Dining Room, Walk-In Closet(s), Built-in Features
Utilities
Water: Public
Sewer: Septic Tank
Other Utilities: Electricity Connected,Water Connected
Cooling: Central Air
Heating: Central
Exterior / Lot Features
Roof: Other
Additional Exterior/Lot Features: Lighting
Community Features
Community Features: Street Lights
Unit Information
Unit 1 Units Total: 1
Unit 1 Actual Rent: 950
Unit 1 Baths Total: 2
Unit 1 Beds Total: 2
Unit 2 Units Total: 1
Unit 2 Actual Rent: 1200
Unit 2 Baths Total: 2
Unit 2 Beds Total: 2
Driving Directions
US 98 South to Clubhouse Road to Address.
Financial Considerations
Terms: Cash,Conventional,Other
Tenant Pays: Electricity,Water
Gross Income: 54428
Tax/Property ID: 24-29-14-283000-020710
Tax Amount: 3730.74
Tax Year: 2024
A broker reciprocity listing courtesy: FUTURE HOME REALTY INC
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Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 5520 3rd Street SE
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2025. Information deemed reliable but not guaranteed.
Schools
Schools nearby 5520 3rd Street SE
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The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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