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2401 IDLEWILD ST Lakeland, FL 33801
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Key Details
Sold Price $2,500,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 18,130 sqft
Price per Sqft $137
Subdivision Lakewood Park
MLS Listing ID T3331144
Sold Date 01/31/22
Construction Status Inspections
HOA Y/N No
Year Built 1980
Annual Tax Amount $17,247
Lot Size 10,890 Sqft
Acres 0.25
Lot Dimensions 78x133
Property Description
Incredible Turnkey Opportunity of 20 Units on 9 separate parcels - 100% occupied with a gross rent of $18,575/month or $222,900/year. Each unit is 906 sq ft with 2 bedrooms, 1 or 1.5 baths, full laundry closet hook ups, concrete block construction, new roofs on all buildings in 2021, most central AC units are newer, new double pane energy efficient windows and also new sliding doors to patios. The layouts are very spacious and most units have no carpet and have been upgraded. Trash is included in the low water bills (about $23/unit), tenant pays their own electric. Not in Flood Zone. Each building has its on Septic system, with 3 of the systems recently replaced. Each unit rents quickly when they come available with multiple applications to choose from, high demand in the area and close to major highways and lots of job options, Lake Parker is nearby for enjoyment with a public park with a boat ramp and pavilions. Lots of job options and things to do with a great central FL location in a good area. Turn Key rental operation with professional management, current leases and formal rent roll activity with substantial deposits and some last month rents collected in advance. Financial information available on request. All of the hard work has been done and background and credit has been pulled on tenants placed since 2019, some tenants have lived in their units for well over 5 years. This is a great turn key rental operation that does not need repairs to keep the cash flow. Call for more information! Drive-bys are welcome but please do not disturb tenants. Financing is an option with this complex.
Location
State FL
County Polk
Community Lakewood Park
Zoning R-4
Interior
Interior Features Ceiling Fans(s), Living Room/Dining Room Combo, Master Bedroom Main Floor, Walk-In Closet(s)
Heating Central
Cooling Central Air
Furnishings Unfurnished
Fireplace false
Exterior
Exterior Feature Sliding Doors
Utilities Available Cable Connected
Roof Type Shingle
Garage false
Private Pool No
Building
Foundation Slab
Lot Size Range 2 to less than 5
Sewer Septic Tank
Water Public
Structure Type Block
New Construction false
Construction Status Inspections
Others
Pets Allowed Yes
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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Bought with BLUE SUN REALTY