1604 E Gary Rd, Lakeland, FL 33801

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

Property Evaluation:

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!