817 College Ave, Lakeland, FL 33801

$349,000

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Home Description

Here’s your chance to own a tenant-occupied property in one of Lakeland’s most desirable, high-demand rental corridors—right across the street from Florida Southern College and just a short walk to Lake Hollingsworth. This 3-bedroom, 1.5-bath historic district bungalow is packed with charm, function, and immediate cash flow potential. The current lease runs through January, so you’ve got built-in income from day one while planning your long-term strategy—whether you want to hold and cash flow, renovate and increase rents, or reposition for student housing or mid-term rental. Tenants love the curb appeal: a classic brick exterior, wide covered porch with ceiling fan, and a swing that screams old-Florida charm. Inside, the home offers low-maintenance laminate and tile flooring throughout, a cozy wood-burning fireplace, and great natural light. The layout includes: A bright alley-style kitchen with stainless steel appliances and double sink windows overlooking the backyard A dining area that flows into a flexible bonus room (ideal for future conversion to study/work-from-home space) Three well-sized bedrooms, including one with a sunny wraparound sitting area—perfect for a reading or gaming nook A spacious Florida room with washer/dryer access and wall-to-wall windows—ideal shared living space in rental setups Out back, you’ve got a fenced yard, paved patio, and shed—great for tenant storage or weekend project value-adds. With strong proximity to: Florida Southern (literally across the street) Lake Hollingsworth walking trail Downtown Lakeland’s dining and retail core …this property is a no-brainer for long-term portfolio growth. Zoned for consistent demand, walkability, and historic charm, it checks all the investor boxes. ?? Investor Highlights: Tenant in place through January Solid rental area with year-round demand Functional layout with flex space for added value Walkability score = high Ideal for future student housing, furnished midterm rental, or classic long-term hold Properties like this don’t come up often in this pocket. Lock it in while you can.