LAKELAND, FL 33809 281 & 283 LEELON ROAD

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281 & 283 LEELON ROAD LAKELAND, FL - Image 1281 & 283 LEELON ROAD LAKELAND, FL - Image 2281 & 283 LEELON ROAD LAKELAND, FL - Image 3
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281 & 283 LEELON ROAD LAKELAND, FL - Image 4281 & 283 LEELON ROAD LAKELAND, FL - Image 5281 & 283 LEELON ROAD LAKELAND, FL - Image 6281 & 283 LEELON ROAD LAKELAND, FL - Image 7281 & 283 LEELON ROAD LAKELAND, FL - Image 8281 & 283 LEELON ROAD LAKELAND, FL - Image 9281 & 283 LEELON ROAD LAKELAND, FL - Image 10281 & 283 LEELON ROAD LAKELAND, FL - Image 11281 & 283 LEELON ROAD LAKELAND, FL - Image 12281 & 283 LEELON ROAD LAKELAND, FL - Image 13281 & 283 LEELON ROAD LAKELAND, FL - Image 14281 & 283 LEELON ROAD LAKELAND, FL - Image 15281 & 283 LEELON ROAD LAKELAND, FL - Image 16281 & 283 LEELON ROAD LAKELAND, FL - Image 17281 & 283 LEELON ROAD LAKELAND, FL - Image 18281 & 283 LEELON ROAD LAKELAND, FL - Image 19281 & 283 LEELON ROAD LAKELAND, FL - Image 20281 & 283 LEELON ROAD LAKELAND, FL - Image 21281 & 283 LEELON ROAD LAKELAND, FL - Image 22281 & 283 LEELON ROAD LAKELAND, FL - Image 23281 & 283 LEELON ROAD LAKELAND, FL - Image 24281 & 283 LEELON ROAD LAKELAND, FL - Image 25281 & 283 LEELON ROAD LAKELAND, FL - Image 26
Presented By: KELLER WILLIAMS REALTY SMART with 863-577-1234. - 863-577-1234
  • MLS# L4959798
  • 03/04/2026
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Disclaimer: The information contained in this listing has not been verified by Homepride Group at EXP Realty and should be verified by the buyer.
  • Beds • 4
  • Baths • 2
  • SQFT • 1,842

Home Details

Under contract-accepting backup offers. One or more photo(s) has been virtually staged. 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 and January 2027, offering stable near-term income. Several improvements have already been completed to help minimize near-term capital expenses. New windows and front doors were installed in April 2024, and a third nail for wind mitigation was added in June 2023. Unit 281 features a renovated kitchen with updated counters (2019) and new LVP bathroom flooring (2024). Unit 283 includes a newer dishwasher (2019) and a replaced AC unit in 2020. Situated on a 0.25-acre lot in unincorporated Polk County, the property is conveniently located near Lake Gibson, shopping, dining, and major commuter routes. With stable tenants, block construction, recent improvements, individual utility metering, and potential rent growth, this duplex presents a strong opportunity for investors seeking current income with long-term upside.
Presented By: KELLER WILLIAMS REALTY SMART with 863-577-1234. - 863-577-1234

Interior Features for 281 & 283 LEELON ROAD

Bedrooms

Total Bedrooms4

Bathrooms

Total Baths2

Other Interior Features

LivingAreaSourcePublic Records
Air Conditioning Y/NYes
Fireplace Y/NNo
Furnished Y/NUnfurnished
Heating Y/NYes
Interior AmenitiesThermostat
Laundry FeaturesLaundry Closet

General for 281 & 283 LEELON ROAD

Additional Parcels Y/NNo
Additional RoomsFamily Room, Storage Rooms
AppliancesDishwasher, Electric Water Heater, Range, Range Hood, Refrigerator
Building Area UnitsSquare Feet
Carport Y/NNo
CityLAKELAND
Construction MaterialsBlock
CoolingCentral Air
CountyPolk
DirectionsFrom I-4: Take Exit 32 (US-98 N). Head north on US-98 N for approximately 4 miles. Turn right onto Marcum Rd. Continue to Old Polk City Rd and turn left. Turn right onto Leelon Rd. Property will be on the right. From Downtown Lakeland: Head north on Florida Ave (US-98 N). Continue approximately 5–6 miles. Turn right onto Marcum Rd. Turn left onto Old Polk City Rd, then right onto Leelon Rd. Property will be on the right. From US-98 N / Socrum Loop Area: Travel south on US-98 N. Turn left onto Marcum Rd. Turn left onto Old Polk City Rd. Turn right onto Leelon Rd. Property on right.
DockY/NNo
Elementary SchoolPadgett Elem
Flood Zone CodeX
Flood Zone Code XY
Garage Y/NNo
Gross Income30600
HeatingElectric
High SchoolLake Gibson High
Land Lease Y/NNo
Lease Considered Y/NYes
Legal DescriptionLAKE GIBSON VILLAS PHASE 2 PB 71 PG 25 LOT 3
LevelsOne
Listing TermsCash, Conventional, FHA, VA Loan
Living Area UnitsSquare Feet
Lot Size Square Feet10890
Lot Size UnitsSquare Feet
MLS Area33809 - Lakeland / Polk City
Middle/Junior High SchoolLake Gibson Middle/Junio
New ConstructionNo
Number Of Units Total2
Occupancy TypeTenant
Ok to Lease12 Months
OwnershipFee Simple
Pets AllowedCats OK, Dogs OK
Property Attached Y/NYes
Property ConditionCompleted
Property SubtypeDuplex
Property TypeResidential Income
RoofShingle
Senior Community Y/NNo
SewerSeptic Tank
Standard StatusPending
StatusPending
Subdivision NameLAKE GIBSON VILLAS PH 02
Tax Annual Amount3709.92
Tax Lot3
Tax Year2025
Tenant PaysElectricity, Water
Total Actual Rent2550
UtilitiesBB/HS Internet Available, Cable Available, Electricity Connected, Phone Available, Public, Water Connected
Virtual TourClick here
Water Access Y/NNo
Water View Y/NNo
Year Built1981
ZoningR-2

Exterior for 281 & 283 LEELON ROAD

Building Area Total1952
Exterior AmenitiesFenced, Private Yard, Storage
Foundation DetailsSlab
Lot Dimensions33 x 165
Lot Size Acres0.25
Lot Size Area10890
Number of Buildings1
Number of Separate Electric Meters2
Number of Separate Water Meters2
Parking FeaturesDriveway
Private PoolNo
Road Surface TypeAsphalt
Water SourcePublic
Waterfront Y/NNo

Additional Details

Price History

Steven Pugh

Broker Associate | Team Leader
Price $314,900
MLS#L4959798
List Date 03/04/2026
Property Type Income
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