Duplex With Separate
For Sale
$399,000
118 Lake Ave Se, Largo, FL 33771
One-story block duplex with individually metered services, tile flooring, and dedicated laundry hookups for each unit.
Property Size1,718 SF
Price / SF$232.25
Days on Market167
Property Features for 118 Lake Ave Se
General Information
Standard status
Active
Size
1,718 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,696
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
Renny Bryden · License #520469
(727) 492-9502
Source:
Exprealty
Added: Apr 22
Changed: Oct 1
Last Checked: Oct 4 at 3:37PM
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 CHARLES RUTENBERG REALTY INC
Investment Insights
Based on property information with market context.
This one-story duplex contains 1,718 square feet in a freshly painted block building with tile floors. Each unit has its own water meter, electric meter, water heater, HVAC system, and washer and dryer hookups. The property also provides ample parking on a large approximately 70-by-203-foot lot.
Both units are occupied by long-term tenants under yearly leases. One tenant has occupied the property for 28 years, and the leases include an early termination provision requiring 30 days’ written notice and a $300 relocation payment. Four-point inspections were completed April 24, 2024.
Both units are occupied by long-term tenants under yearly leases. One tenant has occupied the property for 28 years, and the leases include an early termination provision requiring 30 days’ written notice and a $300 relocation payment. Four-point inspections were completed April 24, 2024.
Key Highlights
- Duplex with 1,718 square feet in a one‑story block building
- Approximately 70X203 lot with plenty of parking
- Separate water and electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,053
Cap Rate
5.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$401,060
$401.1K
Cap Rate 7%
$286,471
$286.5K
Cap Rate 9%
$222,811
$222.8K
Market Conditions
NOI Build-Up for 1,718 SF
Gross rent
$30.7K $17.88/SF
− Vacancy
−$2.1K −$1.21/SF
EGI
$28.6K $16.67/SF
− OpEx
−$8.6K −$5.00/SF
NOI
$20.1K $11.67/SF
Area
Pinellas County, FL
Vacancy
6.74%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$401,060
Cap Rate 7%
$286,471
Cap Rate 9%
$222,811
Alternative Uses
Best Use
Multifamily LT 5
$286.5K
$250.7K – $334.2K
NOI $20,053 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$225.7K
$197.5K – $263.4K
NOI $15,801 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$446.9K
$391.0K – $521.4K
NOI $31,281 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
934
Businesses Nearby
Explore this area
Business Placement
Demographics for 33771, FL
29,766
Population
16,898
Households
1.8
Avg Household Size
54
Median Age
25%
College-Educated
90%
High-School Grad
6.0 sq mi
ZIP Area
4,961
Density / Sq Mi
$60,139
Median Household Income
$40,417
Median Earnings
$1,379
Median Rent
$145,600
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 - One-story block duplex with individually metered services, tile flooring, and dedicated laundry hookups for each unit.
Where is this duplex located?
The property is located at 118 Lake Ave Se Largo, 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: Duplex with 1,718 square feet in a one‑story block building; Approximately 70X203 lot with plenty of parking; Separate water and electric meters for each unit
