10586 Park Avenue

Arcadia, FL 34269

$949,900
Price
11
Beds
5,454 Sq. Ft.
$174 / Sq. Ft.
5,454
Sq. Ft.
$174
per Sq. Ft.

Description

Desoto county dream! Introducing an exclusive investment opportunity in the developing town of Arcadia, nestled at the end of a tranquil dead-end street, sprawled across five expansive acres. This unique income-generating property boasts five well-maintained manufactured homes that are fully occupied by long-term reliable tenants, generating a respectable monthly income ranging from $1,100 to $1,200 per unit, with the potential rent of up to $1,400 per month. Moreover, a sixth manufactured home located...Desoto county dream! Introducing an exclusive investment opportunity in the developing town of Arcadia, nestled at the end of a tranquil dead-end street, sprawled across five expansive acres. This unique income-generating property boasts five well-maintained manufactured homes that are fully occupied by long-term reliable tenants, generating a respectable monthly income ranging from $1,100 to $1,200 per unit, with the potential rent of up to $1,400 per month. Moreover, a sixth manufactured home located at the Northeast corner of the property is tenant-owned generating $400 in monthly lot rents, thus ensuring a stable and diversified revenue stream for the discerning investor. Notably, the property's distinct appeal is further enhanced by its cost-effective individual septic systems and central well system, eliminating excessive monthly utility costs, and reinforcing its financial attractiveness. Each of the five homes is complemented by a convenient storage shed, ensuring tenant satisfaction and ease of living, fostering long-term occupancy, and tenant loyalty. This property's potential is truly unparalleled, underpinned by its unique Residential Multi-Family Mixed District zoning, permitting a maximum density of 6 units per acre. This presents an exceptional opportunity for expansion, offering the possibility of additional manufactured homes for those with a strategic vision for increased rental income and substantial long-term capital appreciation. With a location second to none, one is minutes away from a vibrant array of shopping centers, fine dining establishments, and immediate access to the I-75, this property epitomizes convenience and accessibility, catering to the modern lifestyle needs of its tenants without the cost associated with similar urban asset classes. Such a rare and promising asset, coupled with the town's burgeoning development, underscores the need for prompt action. Seize this extraordinary chance to fortify your investment portfolio and secure a prosperous future in the heart of Arcadia's healthy real estate landscape. Call today before this opportunity slips through your grasp!
  1. Listed by Matthew Sharp • KELLER WILLIAMS ON THE WATER

Property Details for 10586 Park Avenue

Subdivision Name
LETTUCE LAKE LEISURE LIVING
Township
39
View
Greenbelt, Trees/Woods
Waterfront
No

Location

Listing Courtesy of KELLER WILLIAMS ON THE WATER, Matthew Sharp
Add your commute
LISTING UPDATED: 04/07/2024 11:44 AM

Property Details for 10586 Park Avenue

StatusActive
MLS #A4587680
Days on Market178
Taxes$8,597 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Multi-Family
Year Built2005
Lot Size5.00 AC / 217,800 SF
CountyDeSoto County

Location

Listing Courtesy of KELLER WILLIAMS ON THE WATER, Matthew Sharp
Add your commute

Building Information for 10586 Park Avenue

Stories-Residences6Year Built2005Building Size-Lot Size5.00 AC / 217,800 SF

Payment Calculator

$5,900 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,184

Property Taxes

$716

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 10586 Park Avenue

Summary
Location and General Information
  • Building Area Source: Public Records
  • Building Area Total: 5454.0
  • Building Area Units: Square Feet
  • Directions: Heading South on I75 take exit 170 heading east on Kings HWY, turn right onto 761, right onto Kissimmee RD and follow around to your next left turn onto Park AVE. Property is on the right at the end of the road. (NO SIGN @ PROPERTY)
  • Elementary School: Nocatee Elementary School
  • Middle Or Junior School: DeSoto Middle School
  • High School: DeSoto County High School
  • Mls Major Change Type: Price Decrease
  • Listing Service: Full Service
  • Senior Community: No
  • Unit Number: No
  • Street Number: 10586
  • Street Direction Prefix: SW
  • Street Name: PARK
  • Street Suffix: AVENUE
  • State: FL
  • City: ARCADIA
Parking
  • Available For Lease: Yes
  • Carport: No
  • Garage: No
  • Parking Features: Common, Driveway, Guest, Oversized, Parking Pad
Taxes and HOA Information
  • Association Approval Required: No
  • Association Fee Requirement: None
  • Association: No
  • CDD: No
  • Number Of Pets: 10+
  • Pet Restrictions: No restrictions. Restrictions imposed at owners discretion.
  • Pet Size: Extra Large (101+ Lbs.)
  • Tax Block: 0000
  • Tax Legal Description: S1/2 OF NE1/4 OF NE1/4 OF SE1/4 LESS RD ON W SIDE LETTUCE LAKE TRAILER PARK OR 495/17
  • Tax Lot: 0000
  • Tax Year: 2022
Virtual Tour
Property
Lot Information
  • Additional Parcels: No
  • Additional Water Information: Lettuce Lake boat launch leads directly into The Peace River.
  • Future Land Use: MHP
  • Lot Features: Greenbelt, Level/Flat, Oversized Lot, Pasture, Street Dead-End, Street One Way, Street Paved, Unincorporated
  • Lot Size Dimensions: 627x328
  • Parcel Number: 23-39-23-0000-0050-0000
  • Total Acreage: 5 to less than 10
  • Total Num Buildings: 6
  • Water Access: River
  • Water Access: Yes
  • Water Body Name: LETTUCE LAKE
  • Water Extras: No
  • Zoning: RMF-M
  • Living Area: 5454
  • Lot Dimensions: 627x328
Property and Assessments
  • Year Built Numeric: 2005
  • Flood Zone Code: X
  • Flood Zone Date: 10-07-2021
  • Flood Zone Panel: 12027C0278D
  • Homestead: No
  • New Construction: No
  • Number Of Lots: 1
  • Property Attached: No
  • Property Condition: Completed
  • Public Survey Range: 23
  • Public Survey Section: 23
Utilities
  • Sewer: Septic Tank
  • Utilities: Electricity Connected, Phone Available, Private, Sewer Connected, Water Connected
  • Water Source: Well
Interior and Exterior Features
Exterior Features
  • Construction Materials: Vinyl Siding, Wood Frame
  • Exterior Features: Private Mailbox, Storage
  • Foundation Details: Crawlspace
  • Levels: One
  • Other Structures: Shed(s), Storage
  • Pool Private: No
  • Pool: None
  • Pool Private: No
  • Roof: Shingle
  • Spa: No
  • Waterfront Feet Total: 0
Interior Features
  • Bedrooms Total: 11
  • Additional Rooms: Great Room, Inside Utility, Storage Rooms
  • Appliances: Dishwasher, Electric Water Heater, Microwave, Range, Refrigerator
  • Cooling: Central Air
  • Fireplace: No
  • Flooring: Carpet, Vinyl, Wood
  • Heating: Central, Electric
  • Interior Features: Ceiling Fans(s), Primary Bedroom Main Floor, Open Floorplan, Solid Wood Cabinets, Thermostat, Walk-In Closet(s), Window Treatments
  • Laundry Features: Inside, Laundry Room
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
  • Water View: No
Multi Family
Multi-Family Information
  • Annual Expenses: $8,161
  • Annual Net Income: $58,000.00
  • Est Annual Market Income: $88,800.00
  • Gross Income: $74,400
  • Total Monthly Expenses: $60
  • Unit Count: 2
Unit 1
  • Unit Type Baths Total 1: 2
  • Unit Type Beds Total 1: 2
  • Unit Type Heated Sq Ft 1: 1066
  • Unit Type Number Of Units Occupied 1: 5
  • Unit Type Pro Forma 1: 1200
  • Unit Type Type 1: 2 Bed/2 Bath
  • Unit Type Units Total 1: 5
Unit 2
  • Unit Type Baths Total 2: 1
  • Unit Type Beds Total 2: 1
  • Unit Type Description 2: Tenant owned trailer. Paying lot rent only
  • Unit Type Number Of Units Occupied 2: 1
  • Unit Type Pro Forma 2: 400
  • Unit Type Type 2: Manager's Unit
  • Unit Type Units Total 2: 1
Rental
Rental Information
  • Tenant Pays: Electricity
  • Total Actual Rent: $6,200
  • Minimum Lease Period: 0
  • Pets Allowed: Yes
  • Max Pet Weight: 999

Property History for 10586 Park Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 10586 Park Avenue

Taxable ValueLand$100,000Additions$409,631Total$509,631
Tax Record2022$8,597 ($716 / month)
Home Facts
Total Finished SqFt1,054 SqFtAbove Grade Finished SqFt1,054 SqFtStories1Lot Size217,800 SqFtStyleMobile / Manufactured HomeYear Built2005ZoningRMF-MCountyDESOTOAPN23-39-23-0000-0050-0000

Schools near 10586 Park Avenue

This home is within Desoto.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 12
Rating
School
Distance
Nocatee Elementary School
PublicPK to 5

Desoto Middle School
Public6 to 8

Desoto County High School
Public9 to 12

Reduced Services
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

10586 Park Avenue is a multi-family home for sale in Arcadia, FL 34269. This property was listed for sale on November 2, 2023 by KELLER WILLIAMS ON THE WATER, it's currently listed at $949,900. It has been on the market for a total of 178 days and was last sold on January 3, 2002. This listing's school district is Desoto. Nearby schools include Nocatee Elementary School, Desoto Middle School and Desoto County High School. 10586 Park Avenue is a 11-bed, 0-bath, 5,454 sqft multi-family home built in 2005.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of KELLER WILLIAMS ON THE WATER, Matthew Sharp

The information is being provided in part by Southwest Florida Multiple Listing Service, Broker Reciprocity Program ("BR Program") of M.L.S. of Naples, Inc. ("Naples MLS"), under License No. NCOMPN2, and MarcoMls. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2024 Southwest Florida Multiple Listing Service and MarcoMls. All Rights Reserved. The data relating to real estate for sale displayed on this website comes in part from the Broker Reciprocity Program ("BR Program") of M.L.S. of Naples, Inc. ("Naples MLS"), under License No. NCOMPN2 and MarcoMls. Properties listed with brokerage firms other than Compass are marked with the "BR House" logo. Detailed information about such properties includes the name of the brokerage firm with which the seller has listed the property. The properties displayed may not be all the properties listed with brokerage firms participating in the Naples MLS BR Program, or contained in the database compilation of Naples MLS.