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915 MARTIN L KING JR AVE Lakeland, FL 33815
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Key Details
Sold Price $355,000
Property Type Multi-Family
Sub Type Triplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,386 sqft
Price per Sqft $256
Subdivision Patterson & Cox Sub
MLS Listing ID T3408332
Sold Date 11/30/22
Bedrooms 1
Construction Status Financing,Inspections
HOA Y/N No
Originating Board Stellar MLS
Year Built 1946
Annual Tax Amount $964
Lot Size 6,098 Sqft
Acres 0.14
Lot Dimensions 72x84
Property Description
COMPLETELY RENOVATED TRIPLEX IN LAKELAND WITH A 9.29% CASH ON CASH RETURN! Financials attached with reset taxes and REAL NUMBERS! 3 units with separate addresses on one parcel zoned Multiple SFR Residences in Lakeland Florida. (See attachments in the data room) The property was completely renovated in 2022 and now is stabilized with 3 long term tenants and PROFESSIONAL PROPERTY MANAGEMENT IN PLACE! Each unit is a 1 bedroom/1 bathroom and currently rented for $1150 per month with the tenants paying WATER AND ELECTRIC. The units have different addresses as they each have there own water meters and electric meters. 915, 915 1/2 and 917 MLK are the addresses associated with the utility bills. Each unit also has its own WASHER/DRYER and newer STAINLESS STEEL APPLIANCES all owned by the current owner. Over 80% of the structures has NEW WINDOWS, FRESH PAINT INTERIOR/EXTERIOR throughout all units, NEW VINYL WATERPROOF FLOORING throughout units, NEW LIGHT FIXTURES, 3 NEW MINI SPLITS (1 in each unit) and the list goes on! 3 NEW ROOFS were installed with 20 year workmanship warranties, 10 year algae/mold warranties, 2 year service (every 6 months) debris and roof inspection, as well as FREE WIND MITIGATION REPORT FOR INSURANCE FOR THE BUYER! All 3 units were also TREATED FOR TERMITES! The landscaping is MAINTENANCE FREE as it is shell and mulch throughout the property making it easy for a new owner to manage! The entire property is FENCED! Each unit has a front porch and a separate back entrance. The parking is in the rear of the property and allows for 5-6 vehicles also was redone to be maintenance free as it is shell. According to US News, Lakeland, FL is ranked #61 in best places to live in the U.S., #18 in the best places to retire. #9 in best places to live in Florida, #7 in fastest-growing places. Lakeland, the largest city in Polk County, is home to the largest one-site collection of Frank Lloyd Wright architecture in the world at Florida Southern College, Circle B Bar Reserve, Detroit Tigers Spring Training, and Safari Wilderness. THIS TURN KEY ASSET FOR AN INVESTOR WONT LAST LONG! (Interior pictures attached are of 917 MLK, each unit is similar but slightly different, layouts are all the same, DO NOT DISTURB THE TENANTS) (Current owner will provide SURVEY to new Buyer)
Location
State FL
County Polk
Community Patterson & Cox Sub
Zoning RA-4
Interior
Interior Features Ceiling Fans(s), Master Bedroom Main Floor, Open Floorplan
Heating Electric, Wall Units / Window Unit
Cooling Mini-Split Unit(s), Wall/Window Unit(s)
Flooring Vinyl
Fireplace false
Laundry Inside
Exterior
Exterior Feature Fence
Parking Features Parking Pad
Utilities Available Public
Roof Type Shingle
Garage false
Private Pool No
Building
Entry Level One
Foundation Crawlspace
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Wood Frame
New Construction false
Construction Status Financing,Inspections
Others
Senior Community No
Ownership Fee Simple
Special Listing Condition None
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© 2024 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Bought with CENTURY 21 FOUR CORNERS REALTY