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    5520 3Rd St SE Lakeland, FL 33812

    For Sale
    $589,500

    Multi Family - LAKELAND, FL

    Property size:
    1,800 SF
    Lot size:
    1.31 Acres
    Days on Market:
    95
    Last Refresh:
    Dec 7 at 11:06 pm

    Property Features for 5520 3Rd St SE

    General Information

    Property type
    Residential Multi Family
    Standard status
    Active
    Zoning
    R-4
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    APN
    24-29-14-283000-020710
    Interior features
    Built-in Features, Living Room/Dining Room Combo, Split Bedroom, Thermostat, Walk-in Closet(s), Window Treatments
    Exterior features
    Lighting
    Size
    1,800 SF
    Lot size
    1.31 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    2005
    Number of units
    8
    Flooring type
    Laminate, Vinyl
    Building materials
    Frame
    Architectural style
    Other

    Future Home Realty, Inc (727) 409-3368 [email protected]

    Listing agent Audrey Johnson (813) 855-4982 License #3372386

    Listing date Sep 4, 2025

    MLS# TB8344133 Listing URL

    Copyright © 2025 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lakeland Mobile Home Park Investment

    Located in Lakeland/Highland City, Florida, this mobile home park is positioned off State Road 98, within walking distance of restaurants and a shopping plaza. The property features 8 spaces, including 2 rent-to-own homes scheduled to be tenant-owned by 2026, and 5 tenant-owned homes with lot rent. There is also 1 vacant space. Tenants are separately metered for water and electric. City water is provided, and the property utilizes 3 septic tanks. The property's gross revenue is $54,428, with estimated expenses of $12,122, resulting in a net operating income of $42,305 and a cap rate of 7.18%. There is potential for an additional $15,000+ in revenue by increasing lot rents and implementing trash charge-backs. Filling the vacant space could bring an additional $14,400-$16,800 annually. The property has a proforma cap rate of 9.48%. The property is zoned R-4 and sits on a 1.31-acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lakeland
    County
    Polk
    State
    Florida
    Longitude
    -81.875448
    Latitude
    27.965111

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    FAQs

    What type of property is this?
    Mobile home & RV park - Mobile home park with income potential in Lakeland, Florida.
    Where is this mobile home & rv park located?
    The property is located at 5520 3Rd St SE Lakeland, FL.
    What is the asking price?
    The asking price for this property is $589,500.
    What are key features of this property?
    This property features: - High CAP Rate: Current 7.18% CAP rate with potential to reach 9.48%.; - Stable Income Stream: Well-maintained mobile home park with consistent revenue and strong tenant retention.; - Revenue Growth Potential: Opportunity to increase revenue by $15,000+ through lot rent increases and trash charge-backs, plus additional income by filling the vacant space.
    (813) 855-4982
    Request Owner's contact information
    5520 3Rd St SE Lakeland, FL 33812
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    Lakeland, FL 33812
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5520 3Rd St SE Lakeland, FL 33812
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