Historic Rental

938 East Palmetto Street, Lakeland, FL

-3.51% return

SP: $135,000

Video Photos Street View Map

The slide show is now full screen. Push Escape to exit. You can use the left/right arrows and Home/End buttons to navigate the images.

Property Description

Historic area. Lots of value. Great location. Property is rented way below market value with long term tenants. High sales in the area. Tons of potential for appreciation. Amazing long term hold. Separate electric meters. Very inexpensive property to operate and maintain. Professional management is available.

Property Information

Listing statusSold
Property typeMulti Family
Total units3
Total bedrooms4
Total bathrooms3
Building size2477 sq. ft.
Lot size0.3 acres
Year built1912 - 1951

CountyPolk County
SubdivisionWRIGHTS H A 1ST ADDITION
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingWindow A/C

Property Financial Summary

Sale price$135,000
Estimated rehab¹$0
Total investment$135,000

TypeActual

Gross income (annually)$0
Operating expenses (annually)$4,732
Net income (annually)-$4,732
Gross return0.00%

Gross income (monthly)$0
Operating expenses (monthly)$394
Net income (monthly)-$394
Net return-3.51%

Property Income & ExpensesMonthlyAnnual

Income

Duplex
Unit 1: 2 bed / 1 bath$0/month$0/year
Unit 2: 1 bed / 1 bath$0/month$0/year
SFH
Unit Sfh: 1 bed / 1 bath$0/month$0/year
Total$0/month$0/year

Expenses

Lawn care$100/month$1,200/year
Property Taxes$170/month$2,035/year
Water bill$35/month$420/year
Insurance$73/month$877/year
Pest Control$17/month$200/year
Total$394/month$4,732/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.