Two-Unit
New
For Sale
$289,900
2461 CHESTNUT WOODS DRIVE, Lakeland, FL 33815
Each residence has two bedrooms and one full bathroom, with both units conveyed together.
Property Size1,820 SF
Price / SF$159.29
Days on Market6
Property Features for 2461 CHESTNUT WOODS DRIVE
General Information
Standard status
Active
Size
1,820 SF
Property subtype
Duplex
Building Details
Year Built
1980
Listing Agency:
HOME PRIME REALTY LLC
(813) 497-4441
Listed By:
Damarys Diaz Martinez · License #3640665
Source:
Dennisrealty
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 14 at 10:51PM
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 HOME PRIME REALTY LLC
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Investment Insights
Based on property information with market context.
This 1980 duplex contains 1,820 square feet across two separate residences. Each unit is configured with two bedrooms and one full bathroom, and both are part of the sale.
The property is in Lakeland, with access to local shopping, dining, and major roadways.
The property is in Lakeland, with access to local shopping, dining, and major roadways.
Key Highlights
- Two separate units, each with 2 bedrooms and 1 full bathroom
- 1,820 square feet total
- Built in 1980
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,297
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$385,940
$385.9K
Cap Rate 7%
$275,671
$275.7K
Cap Rate 9%
$214,411
$214.4K
Market Conditions
NOI Build-Up for 1,820 SF
Gross rent
$29.5K $16.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$27.6K $15.15/SF
− OpEx
−$8.3K −$4.54/SF
NOI
$19.3K $10.60/SF
Area
Lakeland, 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%
$385,940
Cap Rate 7%
$275,671
Cap Rate 9%
$214,411
Alternative Uses
Best Use
Multifamily LT 5
$275.7K
$241.2K – $321.6K
NOI $19,297 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$246.3K
$215.5K – $287.3K
NOI $17,239 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$437.4K
$382.7K – $510.3K
NOI $30,615 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Explore this area
Business Placement
Demographics for 33815, FL
15,681
Population
7,646
Households
2.1
Avg Household Size
40
Median Age
11%
College-Educated
80%
High-School Grad
7.4 sq mi
ZIP Area
2,119
Density / Sq Mi
$36,445
Median Household Income
$32,637
Median Earnings
$1,078
Median Rent
$42,700
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 - Each residence has two bedrooms and one full bathroom, with both units conveyed together.
Where is this duplex located?
The property is located at 2461 CHESTNUT WOODS DRIVE Lakeland, FL.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two separate units, each with 2 bedrooms and 1 full bathroom; 1,820 square feet total; Built in 1980
