Listing Details for MLS # S5131765
123 Tarawa Street, Lakeland, Fl 33805

Residential Property - Single Family Residence in Lakeland

Listing Price: $274,999Days on Market: 117

Description of Property

Charming Remodeled Home with Strong Income Potential in Lakeland! Unlock the perfect blend of comfortable living and smart investment at 123 Tarawa St, Lakeland—a beautifully updated 4-bedroom, 2-bathroom property spanning 1,378 square feet of heated living space on a generous 0.18-acre lot in the desirable Lakeview Village subdivision. Priced at $274,999, this home offers an attractive income approach, making it ideal for homeowners seeking passive revenue streams or investors looking to maximize returns. The main residence is a cozy 3-bedroom, 1-bathroom haven with 948 square feet of modern updates, including sleek vinyl plank flooring, central air conditioning and heating, and a functional kitchen equipped with a cooktop, refrigerator, and more. Enjoy the convenience of an in-home laundry with washer and dryer, plus an open layout perfect for everyday living. But the real value lies in the detached Accessory Dwelling Unit (ADU)—a fully independent 1-bedroom, 1-bathroom guest suite with its own kitchen and 320 square feet of space. This versatile ADU opens up excellent passive income opportunities: rent it out long-term for steady monthly cash flow (estimated at $800–$1,200/month based on local market rates), use it for short-term rentals via platforms like Airbnb to capitalize on Lakeland's growing tourism, or even rent both the main house and ADU separately for maximized revenue potential—potentially generating over $3,000 in combined monthly income while covering your mortgage and building equity. Outside, the low-maintenance stucco exterior and shingle roof ensure durability, while the fully fenced yard provides privacy for pets, gardening, or relaxation, complete with a lush garden area and handy storage shed. Park with ease under the covered carport for up to 4 vehicles. With NO HOA FEES restricting your options, you'll have full flexibility to implement your rental strategy. Conveniently located near US-98 and I-4, this property offers quick access to shopping, dining, and entertainment, enhancing its appeal to tenants and owners alike. Offered vacant and as-is, this turnkey opportunity is ready for immediate occupancy or income generation. Don't miss out—schedule a showing today and start building your passive income portfolio!The average asking price for a 4 bedroom/2 bath single family residence in this Zip code is $324,562. This single family residence is listed at about 85% of the average asking price. There are 7 4 bedroom/2 bath homes between $200,000 and $400,000 currently listed for sale in this Zip code. See other listings like this one »