Price
$ 105,900

115 EMMA ST, Lakeland, FL 33815  
  • 2,696 sqft

115 EMMA ST, Lakeland, FL 33815  

Investors. Here is a super rare opportunity to own a large triplex that is made up of a 3 bdrm 1 bath, a 4 (or 5) bdrm 1 bath, and a 1/1 single family house. The single family home could use a little love, but is rented for $500 per month to a long time tenant who would be happy to stay. The duplex: 1st level: 3 bdrms 1 bath but could be modified to be a 4/1 or 4/2. Currently has 3 good sized bedrooms, a large living room, and formal dining room (that could be turned into a 4th bdrm). Also has a large laundry room that could be easily made into 2nd bath. Upstairs unit is currently setup as a 5/1 and was most recently rented by the room for maximum cash flow. With no modification besides taking the door off the hinges, the 5th bdrm can be made into a living room. Super low taxes of only $634 per year.Cash flow analysis 1/1 SFR already rented for $500 . 3/1 1st level of duplex $800 market rent (or turn into 4 bdrm and rent each room for $350 per month = $1400 . 4/1 2nd level of duplex $900 market rent (or rent 5 bdrms for $350 per month = $1750 monthly rental income $2,200 or as high as $3,650 by renting rooms. We can finance this property with $38k down. Here's what the numbers would look like: $2200 market rent with 3 leases (aka not renting by the room) -53 monthly portion of property taxes -70 monthly portion of property insurance -525 monthly mortgage (80% LTV)= $1,552 net positive cash flow $18,624 annual net positive cash flow.

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Listing Type
Multi-Family
Listing ID
T2881705
House Size
2,696
Lot Size
62x73
Listing Status
Active
Year Built
1900
County
Polk
Subdivision
Patterson & Cox Sub
Floors
2
Units
3
Zoning
RA-4
Taxes
690.0
TaxID
23-28-13-077000-008071
TaxYear
2016
Listing courtesy of Pineywoods Realty LLC
Price History
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Date Event Change Price
7/10/2017 Price change $-4,000 (-3.6%) $105,900
Houses for Sale Nearby
    Listing Information Provided By:
    RE/MAX ASSOCIATE REALTY
    305 Ave K SE Winter Haven, FL 33880 | Phone: (863) 618-4000
    License #: CQ1022640
    EACH OFFICE INDEPENDENTLY OWNED AND OPERATED.