John Gallaghar Realty & Law, LLC
Listed by John Gallaghar Realty & Law, LLC
$500,000
B.HILLS
Details
Property Type Multifamily
Sub Type Single Family Rental Portfolio
Units 4
Cap Rate 8%
NOI $40,000
Occupancy 75%
Class B
Year Renovated 2012-2020
Buildings 4
Stories 1
Acreage 2.400
Zoning MULTIPLE SFR & MFG.
Investment Type Owner/User
Ownership LAND TRUST
Multifamily | 4 Units | $125,000/unit
Marketing description
Multi-Residential Compound | 2.40 Acres | Massive Value-Add Potential
Explore this unique investment opportunity in Lakeland, Florida, featuring a versatile four-unit mix on a single, expansive parcel. This property is perfectly positioned for an investor looking to capture immediate cash flow while leveraging significant rental upside and future development potential.
The Property
- This compound consists of two solid block single-family homes and two manufactured homes, providing a diverse rental portfolio:
Investment Strategy
- Income Optimization: Currently generating $4,350/month, all units are occupied by long-term tenants with rents significantly below market. There is a clear path to increasing revenue by $200–$300 per unit.
- Strategic Land Use: Set on 2.40 acres and zoned 0803 (Multiple Residences SFR & MH), the site offers ample room for additional units or property enhancements to further drive value.
- Turnkey Foundation: All units underwent renovations after 2011. The property is serviced by Lakeland Electric with separate septic systems utilizes a shared well.
Seller Financing & Terms
The seller is offering attractive financing terms for full-price offers to help you scale your portfolio:
- 10% Down ($50,000)
- Seller-Held 1st Mortgage: $450,000 at 11% interest
- Structure: 30-year amortization with a 5-year balloon
Investment highlights
- Immediate Rental Upside: Total gross monthly rent is currently $4,350. With long-term tenants currently in place, rents are well below market value. Investors can realize an estimated $200–$300 increase per unit to align with current market rates.
- Recent Capital Improvements: Units were renovated after 2011, providing a solid foundation for a "fix and flip" strategy or a high-yield "buy and hold" portfolio.
- Development Potential: The oversized 2.40-acre lot (Zoned 0803 - Multiple Residences SFR & MH) offers ample room for the addition of further properties or amenities to maximize the parcel’s value.
- Utilities: Powered by Lakeland Electric; the site features a shared well and private septic systems.
Listing Contacts
John Gallaghar Realty & Law, LLC
Listed by John Gallaghar Realty & Law, LLC
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$40,000.00
$3,333.33/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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