1377 E LAKE PARKER DR Lakeland, FL $ 559,000
1377 E LAKE PARKER DR
$ 559,000

1377 E LAKE PARKER DR Lakeland, FL, 33801

$ 559,000
Bedrooms Baths0.0 Sq 8,463

Monthly Estimate*

$ 2,167

How much can I afford?
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 1
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 2
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 3
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 4
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 5
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 6
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 7
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 8
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 9
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 10
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 11
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 12
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 13
1377 E LAKE PARKER DR, Lakeland, FL 33801 - Image 14

Multi-Family Home for sale in Lakeland, FL

for $559,000. This 8,463 square foot home was built in 1981 on a lot size of 1.98 Acre(s).

Exceptional opportunity to acquire 7 townhome-style apartment units, all in one building. Each two-story unit consists of 2 bedrooms and 1.5 bathrooms with an estimated 1200 square feet per unit. This property is situated in a great location and all units have views of Lake Parker from the second level balcony. This is a high quality property that has been very well maintained. Each unit is tenant occupied and most tenants are on month-to-month leases, generating approximately $4, 825 per month. Current rents are substantially below market rates. There are strong rental comps in the area showing market rents between $850 to $950 per month. With the size, style, and location of these townhomes, we feel $950 per month is not unrealistic. This opportunity offers a few investment options. One option would be to introduce rent increases and hold for long term cash flow. Another would be to resell the property once rents are raised, at an estimated 7% cap value of $785, 000. And finally, there may be an option to individually parcel these units and sell them as individual townhomes for top dollar. Verification and approval would be needed from the county. The property also comes with riparian rights to Lake Parker. Huge upside here so please contact your agent with any serious interest.

See more

Multi-Family Active

Price

$ 559,000

Property Type

Multi-Family

Taxes

$ 5,855

Lot Size

1.98 Acre(s)

Year Built

1981

Town/City

Lakeland

County/Region

Polk

MLS | Web ID

O5737917

Features
Interior
Cooling System Central Air
Heating System Electric
See more
Exterior
Construction Block Other
Exterior Balcony Covered Patio/Porch Gutters Outdoor Grill
Garage Carport(s) None
Parking Reserved Parking
Road Frontage Paved
Roof Shingle Roof
Waterfront Description Access Lake
See more
Miscellaneous
Other Water Access
Utilities Electric
View Lake View Water View
See more
Rental
Tenant Pays Electric Water
See more
* Excluded Features
List By

Listing Agent

Equitypro Llc

Broker


Affordability

$ 2,655 per month
Get Pre-Approved
Monthly Principal & Interest
$2,167
Monthly Property Taxes
$488
Monthly Home Insurance
--

Default based on a 30-year fixed rate of 4.125% 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.

Learn more about how to save
Home Buying

How much can I afford to buy a house?

Learn More

Get Pre-qualified

Save time & pre-qualify for a mortgage in minutes.

Learn More


Nearby
Pricing History
DatePricePrice ChangeDescription
11/1/2018$559,000 -5.09 % Price Down
11/1/2018$589,000 Price Up
10/2/2018$589,000 Listed Price

Map


See all

1377 E LAKE PARKER DR, Lakeland, FL, 33801 is a Multi-Family Home for sale at $559,000 with 8,463 sqft and a lot size of 1.98 Acre(s). 1377 E LAKE PARKER DR has 0.0 baths and was built in 1981. The property's zip code is 33801 which is in Lakeland, FL