$499,000
About this home
Fully leased four-unit investment opportunity near Downtown Lakeland! Located at 902-904 E Lime Street, this income-producing property features four residential units, each offering 1 bedroom, 1 bathroom, a kitchen, and living area. Two units are located within the main residence, with two additional units situated in the detached rear building, creating a unique multifamily configuration with separation between the structures. All four units are currently leased and generate approximately $4,450 per month in gross rental income. The owner currently pays utilities, averaging approximately $634 per month, providing prospective investors with established income and operating history from day one. The property has also demonstrated a strong history of occupancy; prior marketing materials report that it maintained full occupancy for more than a decade. Situated in the Downtown Lakeland area, the property offers convenient access to shopping, dining, employment centers, major roadways, and the amenities of Lakeland’s urban core. With 100% current occupancy, $53,400 in annual gross rental income based on current rents, and four self-contained living units, this is an opportunity to acquire an established multifamily property in a central Lakeland location. Please do not disturb tenants. Showings by appointment only. Buyer to verify all measurements, unit information, leases, income, expenses, zoning, and property details.
Property details
- MLS #
- MFRL4965488
- Property type
- Quadruplex
- Subdivision
- MORTONS ADD
- Status
- Active
- Days on market
- N/A
- On market date
- October 1, 2026
- Stories
- N/A
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- N/A
- Lot size
- 0.23 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card (e.g. NC Dept. of Public Instruction, SC Report Card).
- Enrollment
- 115
- Student:teacher ratio
- 16.4:1
- District
- POLK
- Enrollment
- 25
- Student:teacher ratio
- 8.3:1
- District
- POLK
- Enrollment
- 58
- Student:teacher ratio
- 11.6:1
- District
- POLK
Walkability
Blended score for LAKELAND's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in LAKELAND, from live MLS data.
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Data source: Listing information provided by Stellar MLS (mfrmls) via Trestle/CoreLogic. Last updated 8 hr ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.