2-Unit Duplex with Updated
New
For Sale
$345,000
101 LAKE HUNTER DRIVE #15 & 16, Lakeland, FL 33803
Each residence includes two bedrooms, one bathroom, and two assigned parking spaces.
Property Size1,806 SF
Days on Market6
Property Features for 101 LAKE HUNTER DRIVE #15 & 16
General Information
Standard status
Active
Size
1,806 SF
Total Parking Spaces
4
Property subtype
Duplex
Site & Location
Neighborhood
Lake Somerset
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Parking per Unit
2
Building Details
Building Size
1,806 SF
Year Built
1980
Buildings
1
Listing Agency:
LIFESTYLE INTERNATIONAL REALTY
Listed By:
Rodrigo Marsal · License #3456723
(305) 809-8085
Source:
Focusgroupfl.kw
Added: Oct 27
Changed: Oct 30
Last Checked: Nov 1 at 2:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LIFESTYLE INTERNATIONAL REALTY
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1980, this duplex contains two residences, each with two bedrooms and one bathroom. The property has a 2022 roof, updated flooring, and fresh interior paint. Each unit is assigned two parking spaces.
The property is in Lakeland, near downtown. The two-unit layout provides separate living spaces within one residential income property.
The property is in Lakeland, near downtown. The two-unit layout provides separate living spaces within one residential income property.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- Roof replaced in 2022
- Two assigned parking spaces per unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,149
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,980
$383.0K
Cap Rate 7%
$273,557
$273.6K
Cap Rate 9%
$212,767
$212.8K
Market Conditions
NOI Build-Up for 1,806 SF
Gross rent
$29.3K $16.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$27.4K $15.15/SF
− OpEx
−$8.2K −$4.54/SF
NOI
$19.1K $10.60/SF
Area
Lakeland, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$382,980
Cap Rate 7%
$273,557
Cap Rate 9%
$212,767
Alternative Uses
Best Use
Multifamily LT 5
$273.6K
$239.4K – $319.2K
NOI $19,149 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$244.4K
$213.8K – $285.1K
NOI $17,106 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$434.0K
$379.8K – $506.3K
NOI $30,380 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Explore this area
Business Placement
Demographics for 33803, FL
29,082
Population
15,086
Households
1.9
Avg Household Size
42
Median Age
34%
College-Educated
94%
High-School Grad
16.6 sq mi
ZIP Area
1,752
Density / Sq Mi
$63,180
Median Household Income
$40,358
Median Earnings
$1,337
Median Rent
$236,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes two bedrooms, one bathroom, and two assigned parking spaces.
Where is this duplex located?
The property is located at 101 LAKE HUNTER DRIVE #15 & 16 Lakeland, FL.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; Roof replaced in 2022; Two assigned parking spaces per unit
