SOLD: LAKELAND FL CASH COW! BUY, RENT OR RENT TO OWN
Spacious 5 room, ½ bathroom, 1,732 sf Single Family Home converted to office space, PLUS ~600sf 1BR / 1BA Apartment, PLUS Detached Garage / Storage!
Multiple uses available, perfect for:
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Dentist office, medical facility, massage studio, art studio, vet, hair salon, or acupuncture studio
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Easily convertible to daycare or similar facility
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+/- 10 parking spaces
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Handicap parking (2 spots) and ramp
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Bus Stop 100ft away
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Fire hydrant across street (insurance deduction)
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Large .29 acre lot
Property Evaluation:
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Wholesale Price: $129,000
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Estimated Rehab Costs: $5,000-10,000
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Estimated Project Duration: 1 month
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Buy and then sublet individual rooms for $300-500/mo x 5 rooms = $1500-2500/mo!
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Rental income on apartment - $500-600/mo
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Estimated After Repair Value (ARV): $210,000
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Rental income = $3,000+ per month for 5x rooms, apartment, and garage!
Excellent location:
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Downtown Lakeland - business area
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1/4 mile to lake
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Easy access from Gary Rd or Interlachen Pkwy
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Across the street from park / greenspace
