281 & 283 LEELON ROAD Lakeland, FL $ 314,900
281 & 283 LEELON ROAD
$ 314,900
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281 & 283 LEELON ROAD

Lakeland, FL, 33809
$ 314,900
Bedrooms4 Baths2.0 Sq 1,842

Monthly Estimate*

$ 1,939

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Multi-Family Home for sale in Lakeland, FL

for $314,900 with 4 bedrooms and 2 full baths. This 1,842 square foot home was built in 1981 on a lot size of 0.25.

Income-producing full duplex in the desirable Lake Gibson area of Lakeland. Located in Lake Gibson Villas Phase 2, this concrete block property was built in 1981 and offers two separate 2-bedroom, 1-bath units totaling 1,842 square feet of living space. The property has received consistent updates, helping minimize near-term capital expenses. New windows and front doors were installed in April 2024, and a third nail for wind mitigation was added in June 2023. Unit 281 features a renovated kitchen with updated counters (July 2019) and new LVP flooring in the bathroom (January 2024). Unit 283 includes a newer dishwasher (July 2019) and a replaced AC unit (August 2020). One AC system has been updated; the other remains original. Both sides are currently occupied by long-term tenants with rental income of $1,265 and $1,285 per month. Current rents are slightly below the area average of approximately $1,250–$1,350 for comparable 2-bedroom units (buyer to verify), presenting potential upside. Situated on a 0.25-acre lot in unincorporated Polk County, the property is conveniently located near Lake Gibson, shopping, dining, and major commuter routes. Ideal for investors seeking steady cash flow or buyers looking to house hack while offsetting their mortgage. Solid block construction, practical improvements, and a proven rental layout make this a strong addition to any portfolio.

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Multi-Family Active

Price

$ 314,900

Bedrooms

4

Full Bath

2

Property Type

Multi-Family

Taxes

$ 3,709

Style

Duplex

Lot Size

0.25

Year Built

1981

Town/City

Lakeland

County/Region

Polk

MLS | Web ID

L4959798

Features
General
Sewer Septic Tank
Heating Electric
Cooling Central Air
Utilities BB/HS Internet Available Cable Available Electricity Connected Phone Available Public Water Connected
Roof Shingle
Appliances Dishwasher Electric Water Heater Range Range Hood Refrigerator
Zoning R-2
Construction Materials Block
Pets Allowed Cats OK Dogs OK
Year Built 1981
Tenant Pays Electricity Water
Levels One
Property Subtype Duplex
Tax Year 2025
Ownership Fee Simple
Gross Income 30600
County Polk
New Construction false
Property Type Residential Income
Subdivision Name LAKE GIBSON VILLAS PH 02
Garage Y/N false
Status Active
Directions From I-4: Take Exit 32 (US-98 N). Head north on US-98 N for approximately 4 miles. Turn right onto Marcum Rd. Continue to Old Polk City Rd and turn left. Turn right onto Leelon Rd. Property will be on the right. From Downtown Lakeland: Head north on Florida Ave (US-98 N). Continue approximately 5–6 miles. Turn right onto Marcum Rd. Turn left onto Old Polk City Rd then right onto Leelon Rd. Property will be on the right. From US-98 N / Socrum Loop Area: Travel south on US-98 N. Turn left onto Marcum Rd. Turn left onto Old Polk City Rd. Turn right onto Leelon Rd. Property on right.
High School Lake Gibson High
City LAKELAND
Senior Community Y/N false
Number Of Units Total 2
MLS Area 33809 - Lakeland / Polk City
Lot Size Units Square Feet
Lot Size Square Feet 10890
Carport Y/N false
Listing Terms Cash Conventional FHA VA Loan
Elementary School Padgett Elem
Property Attached Y/N true
Land Lease Y/N false
Tax Annual Amount 3709.92
Middle/Junior High School Lake Gibson Middle/Junio
Property Condition Completed
Ok to Lease 12 Months
Additional Parcels Y/N false
Lease Considered Y/N true
Virtual Tour https://www.propertypanorama.com/instaview/stellar/L4959798
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Occupancy Type Tenant
Tax Lot 3
Total Actual Rent 2550
Legal Description LAKE GIBSON VILLAS PHASE 2 PB 71 PG 25 LOT 3
Water Access Y/N false
Additional Rooms Family Room Storage Rooms
Water View Y/N false
Flood Zone Code X
DockY/N false
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Interior
Interior Amenities Thermostat
Furnished Y/N Unfurnished
Air Conditioning Y/N true
Heating Y/N true
Fireplace Y/N false
Laundry Features Laundry Closet
Total Bedrooms 4
Total Baths 2
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Exterior
Exterior Amenities Fenced Private Yard Storage
Parking Features Driveway
Water Source Public
Lot Size Area 10890
Foundation Details Slab
Number of Buildings 1
Building Area Total 1952
Lot Dimensions 33 x 165
Lot Size Acres 0.25
Road Surface Type Asphalt
Private Pool false
Waterfront Y/N false
Number of Separate Water Meters 2
Number of Separate Electric Meters 2
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* Excluded Features
List By
Keller Williams Realty Smart

Broker

catcalvosa@kw.com

Email

Affordability Calculator

$2,248
Per Month
86%
14%
0%
Monthly Principal & Interest
$1,939
Monthly Property Taxes
$309
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
0 Elementary School
0 Middle School
Lake Gibson High High School High School
Pricing History
DatePricePrice ChangeDescription
3/5/2026$314,900 Listed Price

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281 & 283 LEELON ROAD, Lakeland, FL, 33809 is a Multi-Family Home for sale at $314,900 with 1,842 sqft and a lot size of 0.25. 281 & 283 LEELON ROAD has 4 bedrooms, 2.0 baths, and was built in 1981. The property's zip code is 33809 which is in Lakeland, FL