John Gallaghar Realty & Law, LLC
Listed by John Gallaghar Realty & Law, LLC
$250,000
RAYMOND AVE.
Details
Property Type Multifamily
Sub Type Single Family Rental Portfolio
Square Footage 1,536
Net Rentable (SqFt) 1,536
Units 2
Cap Rate 8%
NOI $20,000
Occupancy 100%
Price per SqFt $163
Class B
Year Built 1970
Year Renovated 2020
Buildings 2
Stories 1
Acreage 0.210
Zoning MULTIPLE MFG.
Investment Type Owner/User
Ownership LLC
Multifamily | 2 Units | $125,000/unit
Marketing description
Investment Opportunity | Dual-Unit Multifamily in Lakeland ---- Excellent Cash-Flowing Asset with Seller Financing Available
Presenting a unique investment opportunity in Lakeland, FL: two renovated manufactured single-family homes situated on a single 0.21-acre parcel. This property is perfectly positioned for an investor looking for a high-yield "hold" or a strategic "fix and flip" in a growing market.
This property offers immediate stability with a combined annual gross income of $27,600. With the potential for future rent increases and steady value appreciation in Polk County, it serves as a robust addition to any portfolio.
Seller Financing Option: For full-price offers, the seller is willing to provide attractive financing terms:
- Down Payment: $25,000
- Seller-Held 1st Mortgage: $225,000
- Terms: 11% interest, 30-year amortization with a 5-year balloon.
Investment highlights
- Two Units: Both are 1970-built, 768 sq. ft. single-wide manufactured homes.
- Strong Revenue: Currently generating $2,300 total gross monthly rent ($1,150 per unit).
- Flexible Financing: Seller-carry option minimizes initial capital outlay.
- Value-Add Potential: Room for rent growth and long-term equity appreciation.
- Recent Updates: Both units were renovated after 2019, ensuring modern appeal and reduced immediate maintenance needs.
- Utilities: Separately metered for Lakeland Electric; units utilize septic tanks and a shared well (paid by owner).
- Zoning: (DOR) Use Code 0802 – Multiple MH Residences.
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
$20,000.00
$1,666.67/mo
Valuation Metrics
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DSCR
8%
Cap Rate
8%
ROI
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