Redevelopment Income Property
115 EMMA Street Lakeland, FL 33815
115 EMMA Street, Lakeland, FL, 33815
$399,000
For Sale
$399,000
MULTI_FAMILY - LAKELAND, FL
Property Size2,696 SF
Lot Size0.10 Acres
Price / SF$147
Days on Market23
Property Features for 115 EMMA Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Zoning
- RA-4
- Bedrooms
- 7
- Bathrooms
- 5
- Rooms
- Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 3, Bathroom 5, Bathroom 4, Bedroom 7, Bathroom 2
- Interior features
- Ninguno
- Standard status
- Active
- APN
- 23-28-13-077000-008071
- Size
- 2,696 SF
- Lot size
- 0.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- PATTERSON & COX SUB PB 1 PG 60 BLK 8 LOT 7 E1/2
- Tax Annual Amount
- 1903
Building Details
- Year built
- 1900
- Roof type
- Shingle
Listing agency
BLUE LIGHTHOUSE REALTY INC
(855) 550-0528
Listed by
Jorge Zea · License #3015804
(855) 550-0528
Added: Jun 30 Updated: Jul 21 at 2:51PM Checked: Jul 22 at 1:06AM
MLS# O6421108
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.
Redevelopment and income-producing property consisting of three total residential units across two separate buildings on a single parcel. The duplex includes separate electric meters for each unit, and there is also one detached single-family home. Professionally completed Mechanical, Electrical, and Plumbing (MEP) plans are included with the sale, providing a head start toward redevelopment.
The property is located in Lakeland, Florida, just minutes from downtown Lakeland, with convenient access to Interstate 4 for routes toward Tampa and Orlando.
The proposed redevelopment reconfigures the detached single-family home into a modern 3-bedroom, 2-bathroom residence. The duplex is proposed to be redesigned into two 5-bedroom, 3-bathroom units for a total of 13 bedrooms and 8 bathrooms across the property.
The property is located in Lakeland, Florida, just minutes from downtown Lakeland, with convenient access to Interstate 4 for routes toward Tampa and Orlando.
The proposed redevelopment reconfigures the detached single-family home into a modern 3-bedroom, 2-bathroom residence. The duplex is proposed to be redesigned into two 5-bedroom, 3-bathroom units for a total of 13 bedrooms and 8 bathrooms across the property.
Key Highlights
- Single‑parcel property with 3 residential units across two separate buildings: a duplex and a detached single‑family home
- Duplex includes separate electric meters for each unit
- Professionally completed MEP plans included with the sale to support redevelopment and help reduce pre‑construction time and expense
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.7k | $16.20 |
| − Vacancy | −$2.8k | −$1.05 |
| EGI | $40.8k | $15.15 |
| − OpEx | −$12.3k | −$4.54 |
| NOI | $28.6k | $10.60 |
2,696 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$408.4K
$357.3K – $476.4K
NOI $28,585 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$364.8K
$319.2K – $425.6K
NOI $25,536 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$647.9K
$566.9K – $755.9K
NOI $45,351 @ 7.0% cap · market cap 11.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Three residential units across two buildings on one parcel, with separate electric metering on the duplex.
Where is this duplex located?
The property is located at 115 EMMA Street Lakeland, FL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Single‑parcel property with 3 residential units across two separate buildings: a duplex and a detached single‑family home; Duplex includes separate electric meters for each unit; Professionally completed MEP plans included with the sale to support redevelopment and help reduce pre‑construction time and expense
