Multifamily Opportunity - 9 Homes with Huge Upside

1025 W Socrum Loop Rd, Lakeland, FL 33809

  • For Sale $675,000
  • Property Type Multi-Family
  • Property Size 4,420 SF
  • Units 9
  • Lot Size 1.65 Acre
  • Building Class C
  • Year Built 1980
  • Date Updated Apr 3, 2025
hhsThis sale encompasses two addresses, in two different parts of town. On the northside of Lakeland are 7 mobile homes located at US 98 North and West Socrum Loop Road. The second location is at Old Tampa Hwy and Memorial Blvd. This location has two homes. The current owner purchased the two assets and has been renovating the units. There is a tremendous amount of upside with this asset, as 4 units are vacant, and the remainder under market. The vacant units are ready to rent and market rates are strong currently. The proforma scenario represents a 13.61% cap rate with conservative Pro-forma rent expectation at $116,900.
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Highlights

  • Excellent multifamily opportunity with explosive upside in North & Central Lakeland, FL
  • 9 mobile homes at two different locations in Lakeland - 1025 W Socrum Loop (7 homes) & 711 Nashville Road. (2 homes)
  • 1025 W Socrum Loop - 1.49 AC. This is a state registered park - "McCoy's Place" 53-54-00292. 7 allowable units.
  • Units 2, 6 & 7 at 1025 W. Socrum Loop are currently vacant, but ready to rent. Unit 3 is fully renovated and will be occupied on 4/1/25.
  • Property management currently in place for $57 per unit per month.
  • There are no titles for the homes, all structures have been Retired to the Park (RP'D), which means they cannot be sold or moved. However, they can be replaced!
  • All Tenants pay their own electric. Water is paid for by the Landlord and is included in the rent.
  • Landlord carries General Liability insurance only.
  • 2 septic tanks at W. Socrum Loop with new drain lines just added. 1 septic tank at Nashville Rd.
  • Leases available to review.

Contacts

broker
Craig Morby

Saunders Real Estate

Location

Getting Around

  • Walk Score ®

    23/100 Car-Dependent

  • Bike Score ®

    39/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Lakeland, FL
  • Zip Code 33809
  • Market Tampa St Petersburg Clearwater

Points of Interest

  • Lakeland

    7.62 miles

  • Hess

    2.01 miles

  • 7-Eleven

    2.36 miles

  • Sunoco

    2.44 miles

  • Murphy USA

    2.54 miles

  • Exxon

    3.82 miles

  • Lakeland Supercharger

    3.92 miles

  • BP

    4.23 miles

  • Citgo

    4.38 miles

  • Gow B. Fields Park & Ride

    4.91 miles

  • Economy Parking

    7.60 miles

  • Parking Lot R

    8.51 miles

  • Parking Lot BB

    8.53 miles

  • Parking Lot B

    8.57 miles

  • Parking Lot C

    8.59 miles

  • Parking Lot J

    8.73 miles

  • Stayable Suites Lakeland

    3.84 miles

  • Holiday Inn Express & Suites Lakeland North - I-4

    3.91 miles

  • Days Inn & Suites by Wyndham Lakeland

    3.94 miles

  • Hampton Inn Lakeland

    3.97 miles

  • Crestwood Suites-Lakeland

    4.03 miles

  • Baymont Lakeland

    4.06 miles

  • Sleep Inn & Suites

    4.11 miles

  • La Quinta Inn & Suites Lakeland East

    4.14 miles

  • La Quinta Inn & Suites Lakeland West

    4.63 miles

  • Comfort Inn & Suites

    4.65 miles

  • Checkers

    1.67 miles

  • Taco Bell

    1.72 miles

  • Long John Silver's

    1.72 miles

  • McDonald's

    2.15 miles

  • Sorrento Pizzeria & Restaurant

    2.40 miles

  • Marco's Pizza

    2.47 miles

  • Charleys Philly Steaks

    2.48 miles

  • Wendy's

    2.50 miles

  • DQ Grill & Chill

    3.20 miles

  • Subway

    3.33 miles

  • Clem Churchwell Elementary School

    1.08 miles

  • Lake Gibson High School

    1.89 miles

  • Lake Gibson Middle School

    2.01 miles

  • Dr NE Roberts Elementary School

    2.12 miles

  • Edgar L. Padgett Elementary School

    2.47 miles

  • Socrum Elementary School

    2.86 miles

  • Kathleen Elementary School

    3.35 miles

  • R Clem Churchwell Elementary School

    3.44 miles

  • Kathleen Middle School

    3.44 miles

  • Wendell Watson Elementary School

    3.46 miles

Frequently Asked Questions

How much does Multifamily Opportunity - 9 Homes with Huge Upside cost?

The space currently listed for sale at Multifamily Opportunity - 9 Homes with Huge Upside asks for $675,000.

What is the total square footage of Multifamily Opportunity - 9 Homes with Huge Upside?

Multifamily Opportunity - 9 Homes with Huge Upside totals 4,420 square feet.

When was this property built?

Multifamily Opportunity - 9 Homes with Huge Upside was built in 1980.

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Contact Listing Broker
broker
Craig Morby

Saunders Real Estate

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