Multifamily Opportunity - 9 Homes with Huge Upside

For Sale

1025 W Socrum Loop Rd, Lakeland, FL 33809

This Lakeland property for sale is located at 1025 W Socrum Loop Rd. The general use of Multifamily Opportunity - 9 Homes with Huge Upside is multi-family and it incorporates 4,420 square feet of class C multi-family space. The current listed sale price for Multifamily Opportunity - 9 Homes with Huge Upside is $675,000. Multifamily Opportunity - 9 Homes with Huge Upside is situated on a lot that is 1.65 acre in size.

Contacts

broker
Craig Morby

Saunders Real Estate

Property Details

  • 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 14, 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.
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

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.

Getting around

  • 23/100

    Walk Score ®

  • 39/100

    Bike Score ®

Powered by Walk Score ®

Location

  • 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

  • Publix

    1.74 miles

  • Winn-Dixie

    2.38 miles

  • Walmart Supercenter

    2.41 miles

  • Plantation Square

    3.39 miles

  • ALDI

    3.54 miles

  • Bealls

    4.04 miles

  • TJ Maxx

    4.20 miles

  • Shoppes of Lakeland

    4.20 miles

  • Sears

    4.22 miles

  • Bulk Nation

    4.23 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Craig Morby

Saunders Real Estate

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.