1025 W Socrum Loop Rd & 711 and 713 Nashville Road
- Excellent multifamily portfolio opportunity with upside. Two separate properties, one in North Lakeland and one in Central Lakeland. 10 homes in total with 9 mobile homes and 1 single family home (newly renovated)
- The North Lakeland mobile home has 7 units. 2 vacancies currently. This is a state registered park "McCoy's Place 53-54-00292
- All titles have been RP'd, Retired to the Park. The homes cannot be sold or relocated, but CAN be replaced
- Recently re-zoned to LCC, multifamily allowed under the Live Local Act
- Well and septic are available at this park
- Nashville Rd consists of 2 mobile homes and 1 single family home, which has been completely renovated and is ready to lease
- 2 septic tanks at the location with a new drain field lines added recently
- Survey available for this property. Titles for mobile homes also available
- Property management currently in place for $57 per unit per month
- All Tenants pay their own electric. Water is paid for by the Landlord and is included in the rent
- Landlord carries General Liability insurance only
- Leases available to review
Property Description
We are pleased to present this value-add multifamily portfolio opportunity in Lakeland, Florida, consisting of nine mobile homes and one single-family home across two properties in North and Central Lakeland. (Property 1 - W Socrum Loop) - This north Lakeland property features a 7 unit mobile home park, all homes are park owned. Several units have been completely renovated, providing an opportunity to capture additional rental income. The property is conveniently located just minutes from the busy US 98 corridor, offering easy access to major retailers, national restaurants, Lakeland Square Mall, and numerous other commercial amenities. Interstate 4 is approximately 12 minutes away, (Property 2 - Nashville Rd) - This central Lakeland property consists of 2 mobile homes and 1 single-family home. The 3-bedroom/1-bath single-family home has been completely renovated and is currently available for lease. Nashville Road is situated within the established George Jenkins Road/New Tampa Highway area, surrounded by a mix of residential neighborhoods, retail centers, employment destinations, and major commercial users, including Publix's distribution operations. The portfolio offers significant upside through rental-rate growth. The current rent roll generates approximately $75,900 in annual rental income. Based on conservative market rents, filling the 3 remaining vacant units could add approximately $40,000 in annual rental revenue, bringing projected gross rental income to approximately $116,000 annually, with further upside possible as existing rents are increased. Current operating expenses are approximately $40,000 annually, providing an investor with an opportunity to improve both income and overall portfolio performance through strategic lease-up and continued value-add improvements.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $780,000 |
| No. of Units: | 9 |
| Year Built: | 1980 |
| Lot Size: | 1.65 Acres |
| Opportunity Zone: | No |
| Price per unit: | $86,667 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
314 N Domingue Avenue
Lafayette, Louisiana
866 Mouton Road
Sunset, Louisiana
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout