Duplex with Remodeled
For Sale
$299,990
106-108 W ORANGE Avenue, Lake Wales, FL 33853
Residential Income, LAKE WALES, FL
Property Size1,664 SF
Lot Size0.15 Acres
Price / SF$180.28
Days on Market10
Property Features for 106-108 W ORANGE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
C-2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Family Room, Bedroom 4, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Laundry Room
Interior features
Ceiling Fans(s), Kitchen/Family Room Combo, Thermostat
Exterior features
Awning(s)
Subdivision
ORANGE CENTER SUB
Directions
From US Hwy 27, head east on State Road 60 toward downtown Lake Wales. Turn north on S. Wetmore St. Continue across W. Central Ave, then turn west onto W. Orange Ave. Property will be on the right.
Standard status
Active
APN
27-30-02-909500-005080
Size
1,664 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ORANGE CENTER SUB PB 17 PG 18 BLK 5 LOTS 8 THRU 10
Tax Annual Amount
2119
Legal Description
ORANGE CENTER SUB PB 17 PG 18 BLK 5 LOTS 8 THRU 10
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2011
Floors in Building
1
Number of units
1
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
RE/MAX TITANIUM GROUP · RE/MAX International
(352) 241-6363
Listed By:
Kristi Quick · License #3172148
(863) 559-6104
Added: Oct 2
Changed: Oct 11
Last Checked: Oct 11 at 11:06PM
MLS# G5118475
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2011 duplex contains two residences, each arranged with two bedrooms, one bathroom, and a full kitchen. One unit has a remodeled interior; the other has tile flooring throughout. The 1,664-square-foot building sits on a 0.15-acre lot and has block and stucco construction, central heating and air conditioning, and a shingle roof.
The property is zoned C-2 and connected to public water and sewer. Cable service is available. Additional features include ceiling fans, awnings, and a laundry room.
The property is zoned C-2 and connected to public water and sewer. Cable service is available. Additional features include ceiling fans, awnings, and a laundry room.
Key Highlights
- Two units, each with 2 bedrooms, 1 bathroom, and a full kitchen
- One residence has a remodeled interior; the other has tile flooring throughout
- 1,664 square feet of building area on a 0.15‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,643
Cap Rate
5.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$352,860
$352.9K
Cap Rate 7%
$252,043
$252.0K
Cap Rate 9%
$196,033
$196.0K
Market Conditions
NOI Build-Up for 1,664 SF
Gross rent
$27.0K $16.20/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$25.2K $15.15/SF
− OpEx
−$7.6K −$4.54/SF
NOI
$17.6K $10.60/SF
Area
Polk County, 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%
$352,860
Cap Rate 7%
$252,043
Cap Rate 9%
$196,033
Alternative Uses
Best Use
Multifamily LT 5
$252.0K
$220.5K – $294.1K
NOI $17,643 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$225.2K
$197.0K – $262.7K
NOI $15,761 @ 7.0% cap · market cap 5.25%
Theoretical Best
Office A
$399.9K
$349.9K – $466.5K
NOI $27,991 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
940
Businesses Nearby
Explore this area
Business Placement
Demographics for 33853, FL
12,404
Population
5,483
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
85%
High-School Grad
8.7 sq mi
ZIP Area
1,426
Density / Sq Mi
$40,938
Median Household Income
$35,470
Median Earnings
$965
Median Rent
$198,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences include full kitchens, with a remodeled interior in one and tile flooring throughout the other.
Where is this duplex located?
The property is located at 106-108 W ORANGE Avenue Lake Wales, FL.
What is the asking price?
The asking price for this property is $299,990.
What are key features of this property?
This property features: Two units, each with 2 bedrooms, 1 bathroom, and a full kitchen; One residence has a remodeled interior; the other has tile flooring throughout; 1,664 square feet of building area on a 0.15‑acre lot
