Lake Bonny Income Property! – Lakeland FL 33801 For Sale

  • $649,900
  • 5,103 sqft

Property Description:

This 5,103 Sq. ft. direct lakefront property, has a beautiful Western view across Lake Bonny near the University and downtown Lakeland Florida. There is a large upside possible when rents are raised to current rent levels and some repairs/upgrades are made. Currently there are a total of nine (9) rental units, which include five (5) park owned mobile homes, a duplex home, and a single-family home. The place could be ten (10) rentals on the property if the lakefront garage was turned into a studio cottage.

The current property manager lives on site and pays a reduced rent of $400 for rental collection, maintenance and keeping the property lawns maintained. He desires to stay and continue as manager if possible.

Monthly Rental Income

Current Gross Rents – $6,150.00

Unit                                       Current Rent                                      Possible Rental Income

  1. House                               $800.00                                                      $1,200.00
  2. Duplex Unit 1                 $800.00                                                       $850.00
  3. Duplex Unit 2                 $900.00                                                      $1,000.00
  4. Mobile home                  $700.00                                                       $850.00
  5. Mobile home                  $650.00                                                       $850.00
  6. Mobile home                  $600.00                                                       $850.00
  7. Mobile home                  $600.00                                                       $850.00
  8. Mobile home                  $650.00                                                       $850.00
  9. Mobile home                  $400.00 (manager)                                   $950.00
  10. Lake Front Cottage       $0                                                                  $950.00

 

Totals                                    $6,150.00                                             $9,200.00

Monthly Expense List

The monthly expenses are low as the manager cares for the yard and maintenance.

Trash                                    $250

Water/Electric                   $350

Property Tax                      $383

Totals                               $773.00

Price:
$649,900
Address:
Longfellow Blvd
Lakeland, FL 33801
Square Feet:
5,103
Terms:
For Sale
Property Type:
Other

Call (407) 678-0062 for more details

Property Location