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6065 Bay Ave
For Sale $1,050,000 ($141.51 per Sq Ft)
$1,050,000 ($141.51 per Sq Ft)
- 13 Units
- 7,420 Sq Ft
- 66,041 Sq Ft
- Unknown Cap Rate
Description
TREMENDOUS INCOME OPPORTUNITY! Located in one of the fastest growing areas of South Lakeland, this is 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 Bears Mobile Home park. The other 7 homes are part of the same parcel - each have 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%
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,050,000 |
| Property Type | Multi-Family |
| Usable Sqft | 7,420 |
| Number of Stories | 0 stories |
| Parking Spots | 0 spots |
| Year Built | 1973 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 242914283000070210 |
| MLS # | O6203342 |
| Property ID | 320464905 |
| Lot Sqft | 66,041 |
| Zoning | RL4 |
| Total Units | 13 |
| Days on Market | 219 |
| Original List Price | $1,125,000 |
| Date Updated | December 09, 2024 |
| Date Created | May 08, 2024 |
Financials not available online. Please inquire with your agent for more details.
Listing Provided By
Craig Morby an agent of .
© 2024 STELLAR MLS. All rights reserved. Some listings on this website are from STELLAR as of December 09, 2024 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT