1025 W Socrum Loop Rd - Manufactured Housing/Mobile Housing FOR SALE


Lakeland, FL 33809- City of Lakeland
$780,000 USD
863-581-0059
1025 W Socrum Loop Rd, Lakeland, FL for Sale
$780,000 USD
Manufactured Housing/Mobile Housing - FOR SALE
1/29
null | Request Cap Rate

1025 W Socrum Loop Rd
Lakeland, FL 33809
City of Lakeland


HIGHLIGHTS

  • Excellent multifamily portfolio opportunity with upside. Two separate properties, one in North Lakeland and one in Central Lakeland.
  • The North Lakeland mobile home has 7 units. 2 vacancies currently. This is a state registered park "McCoy's Place 53-54-00292.
  • Nashville Rd consists of 2 mobile homes and 1 single family home, which has been completely renovated and is ready to lease.
  • 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

OVERVIEW

PLEASE SEE THE PROPERTY BROCHURE FOR ADDITIONAL DETAILS. 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 $132,000 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.

FOR SALE DETAILS

PRICE

$780,000 USD

PRICE/SF

$176 USD /SF

# OF UNITS

10

PRICE/UNIT

$78,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multifamily Opportunity- 10 Homes 2 Locations

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Manufactured Housing/Mobile Housing

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,512 SF

ZONING

RL-4 & LCC X

APN/PARCEL ID

23-27-12-000000-033120,23-28-22-093500-007230,23-28-22-093500-007240

ASK ABOUT THIS PROPERTY

Craig MorbySaunders Real EstateMore Info
863-581-0059

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Craig MorbySaunders Real EstateMore Info
863-581-0059

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.