281 & 283 Leelon Road, Lakeland, FL 33809

Lakeland
Local realty services provided by:Tomlin St Cyr Real Estate Services ERA Powered
281 & 283 Leelon Road,Lakeland, FL 33809
$314,900
Virtual Tour
  • 4 Beds
  • 2 Baths
  • 1,842 sq. ft.
  • Multi-family
  • Pending
Listed by: cat calvosa
Office: keller williams realty smart
MLS#:L4959798
Source:MFRMLS

Price summary

  • Price:$314,900
  • Price per sq. ft.:$161.32

About this home

Income-producing full duplex in the desirable Lake Gibson area of Lakeland. No HOA. This solid block property was built in 1981 and offers two separate 2-bedroom, 1-bath units totaling 1,842 square feet of living space. Each unit is separately metered, and tenants pay their own utilities, helping keep operating costs lower for the owner. The property currently generates $2,550 per month ($30,600 annually) in rental income with tenants paying $1,265 and $1,285 per month. Based on current rents and typical operating assumptions, the property produces an estimated Net Operating Income of approximately $21,600 annually, representing an estimated cap rate near 6.9% at the current list price of $314,900. All financial figures are estimates and should be verified by buyer. Current rents appear slightly below market for similar 2-bedroom units in the area, which commonly rent in the $1,250–$1,350 range, providing potential upside as leases renew. Existing leases run through December 2026...

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Home facts

  • Year built:1981
  • Listing ID #:L4959798
  • Added:11 day(s) ago
  • Updated:March 17, 2026 at 07:50 AM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:2
  • Kitchen Description:Dishwasher, Range, Range Hood, Refrigerator
  • Living area:1,842 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Electric
  • Central air:Yes

Structure and exterior

  • Roof:Shingle
  • Year built:1981
  • Building area:1,842 sq. ft.
  • Lot area:0.25 Acres
  • Construction Materials:Block
  • Exterior Features:Fence
  • Foundation Description:Slab
  • Levels:1 Story

Schools

  • High school:Lake Gibson High
  • Middle school:Lake Gibson Middle/Junio
  • Elementary school:Padgett Elem

Utilities

  • Water:Public, Water Connected
  • Sewer:Public, Septic Tank

Finances and disclosures

  • Price:$314,900
  • Price per sq. ft.:$161.32
  • Tax amount:$3,710 (2025)

Features and amenities

  • Appliances:Dishwasher, Electric Water Heater, Range, Range Hood, Refrigerator
  • Laundry features:Laundry Closet
  • Amenities:BB/HS Internet Available, Cable Available, Phone Available, Thermostat
  • Pool features:Public Pool

Parking

  • Parking description:Driveway
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