Duplex with Separate
118 LAKE AVENUE SE Largo, FL 33771
118 LAKE AVENUE SE, Largo, FL, 33771
$419,000
For Sale
$419,000
Duplex - LARGO, FL
Property Size1,718 SF
Lot Size0.32 Acres
Price / SF$243.89
Days on Market89
Property Features for 118 LAKE AVENUE SE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 5
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Pets allowed
- Cats OK, Dogs OK
- Interior features
- Eat-in Kitchen
- Exterior features
- Private Entrance, Private Mailbox
- Appliances
- Range, Refrigerator
- 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 Annual Amount
- 5696.16
Utilities
- Heating system
- Central, Electric (Heating)
- Cooling system
- Central Air
Building Details
- Year built
- 1973
- Number of units
- 2
- Flooring type
- Laminate, Tile, Tile - Ceramic
- Building materials
- Block
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency
CHARLES RUTENBERG REALTY INC
(727) 538-9200
1545 S Belcher Rd, Clearwater, FL
Listed by
Renny Bryden · License #520469
(727) 492-9502
Added: Apr 22 Checked: Jul 19 at 12:06 am
MLS# TB8499836
Listing URL
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 duplex presents in excellent condition with a freshly painted one-story block exterior and tile flooring throughout. The property is configured for separate living arrangements, with separate water meters and electric meters, as well as separate water heaters, separate HVAC systems, and washer and dryer hookup provisions for each unit. On the residential side, the current tenants have deep tenure, with tenants in place for more than 10 years and one tenant reporting 28 years in unit #B.
The home sits on a huge lot of approximately 70 by 203, giving tenants space to maintain the yard and helping support an owner/operator’s preference for outdoor usability. Plenty of parking is available, and the tenant experience appears well-established. 4-point inspections were completed on April 24, 2024 and are attached in the MLS.
Each unit is on a yearly lease with an early termination clause that requires 30 days written notice and a $300 relocation payment, with additional details as described in the listing remarks. The current rents are described as discounted, and the seller notes potential for increases of $200 per month per unit to reach market rates, or $400 total per month, for an additional $4,800 per year. This makes the property particularly attractive to buyers who value long-term occupancy while retaining upside through rent optimization.
The home sits on a huge lot of approximately 70 by 203, giving tenants space to maintain the yard and helping support an owner/operator’s preference for outdoor usability. Plenty of parking is available, and the tenant experience appears well-established. 4-point inspections were completed on April 24, 2024 and are attached in the MLS.
Each unit is on a yearly lease with an early termination clause that requires 30 days written notice and a $300 relocation payment, with additional details as described in the listing remarks. The current rents are described as discounted, and the seller notes potential for increases of $200 per month per unit to reach market rates, or $400 total per month, for an additional $4,800 per year. This makes the property particularly attractive to buyers who value long-term occupancy while retaining upside through rent optimization.
Key Highlights
- Excellent condition duplex with long‑term tenants.
- Separate utilities for each unit.
- Large lot maintained by tenants.
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 | $30.7k | $17.88 |
| − Vacancy | −$2.1k | −$1.21 |
| EGI | $28.6k | $16.67 |
| − OpEx | −$8.6k | −$5.00 |
| NOI | $20.1k | $11.67 |
1,718 SF · lease $17.88/SF/yr · vacancy 6.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$286.5K
$250.7K – $334.2K
NOI $20,053 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$225.7K
$197.5K – $263.4K
NOI $15,801 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$446.9K
$391.0K – $521.4K
NOI $31,281 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Well-maintained one-story duplex offering separate electric and water service, ideal for income-oriented buyers seeking stability.
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 $419,000.
What are key features of this property?
This property features: Excellent condition duplex with long‑term tenants.; Separate utilities for each unit.; Large lot maintained by tenants.
