Duplex with Separate
For Sale
$399,000
118 LAKE Avenue SE, Largo, FL 33771
Residential Income, LARGO, FL
Property Size1,718 SF
Lot Size0.32 Acres
Price / SF$232.25
Days on Market180
Property Features for 118 LAKE Avenue SE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 4
Patio and Porch features
Porch
Pets allowed
Dogs OK, Cats OK
Interior features
Eat-in Kitchen
Exterior features
Private Entrance, Private Mailbox
Appliances
Range, Range Hood, Refrigerator
Subdivision
LAKE PALMS SEC 4
Directions
Belcher Rd/ West on East Bay Dr/ Left on Fulton/ Right on Lake Ave SE/ House on the right.
Standard status
Active
APN
36-29-15-48168-000-0240
Size
1,718 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LAKE PALMS SEC 4 LOT 24
Tax Annual Amount
5696
Legal Description
LAKE PALMS SEC 4 LOT 24
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1973
Floors in Building
1
Flooring type
Tile - Ceramic, Laminate
Building materials
Block
Roof type
Shingle
Listing Agency:
CHARLES RUTENBERG REALTY INC
(727) 538-9200
Listed By:
Renny Bryden · License #520469
(727) 492-9502
Added: Apr 22
Changed: Oct 18
Last Checked: Oct 18 at 4:06AM
MLS# TB8499836
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.
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Investment Insights
Based on property information with market context.
This 1,718-square-foot duplex is a one-story block building on a 0.32-acre lot measuring approximately 70 by 203 feet. The vacant unit has three bedrooms and one bathroom; the other unit is occupied on a month-to-month lease. Building features include separate water and electric meters, water heaters, HVAC systems, and washer and dryer hookups. The property also has central air, electric heat, a porch, and on-site parking.
The long-term occupant in the occupied unit has expressed interest in staying. The vacant unit's prior occupant had lived there for 28 years. The building was constructed in 1973 and recently received fresh paint. Public water and sewer serve the property.
The long-term occupant in the occupied unit has expressed interest in staying. The vacant unit's prior occupant had lived there for 28 years. The building was constructed in 1973 and recently received fresh paint. Public water and sewer serve the property.
Key Highlights
- Two‑unit duplex with 1,718 square feet of building area
- 0.32‑acre lot; approximately 70 by 203 feet
- One unit is vacant and includes 3 bedrooms and 1 bathroom
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.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - A single-story block property offers two residences, individual mechanical systems, and a vacant three-bedroom unit.
Where is this duplex located?
The property is located at 118 LAKE Avenue 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: Two‑unit duplex with 1,718 square feet of building area; 0.32‑acre lot; approximately 70 by 203 feet; One unit is vacant and includes 3 bedrooms and 1 bathroom
