Spacious 5 room, ½ bathroom, 1,732 sf Single Family Home converted to office space, PLUS ~600sf 1BR / 1BA Apartment, PLUS Detached Garage / Storage!
· Excellent location:
o Downtown Lakeland - business area
o 1/4 mile to lake
o Easy access from Gary Rd or Interlachen Pkwy
o Across the street from park / greenspace
· Multiple uses available, perfect for:
o Dentist office, medical facility, massage studio, art studio, vet, hair salon, or acupuncture studio
o Easily convertible to daycare or similar facility
o +/- 10 parking spaces
o Handicap parking (2 spots) and ramp
o Bus Stop 100ft away
o Fire hydrant across street (insurance deduction)
o Large .29 acre lot
Wholesale Price: $129,000
Estimated Rehab Costs: $5,000-10,000
Estimated Project Duration: 1 month
Buy and then sublet individual rooms for $300-500/mo x 5 rooms = $1500-2500/mo!
Rental income on apartment - $500-600/mo
Estimated After Repair Value (ARV): $210,000
Rental income = $3,000+ per month for 5x rooms, apartment, and garage!