Two-Unit Duplex with Fenced
2526 ELM AVENUE, Lake Wales, FL 33898
For Sale
$285,000
Two 2-bedroom residences each have a kitchen, living area, and appliances, with outdoor space behind the property.
Property Size1,736 SF
Price / SF$164.17
Days on Market12
Property Features for 2526 ELM AVENUE
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Road Access
Units
Unit Mix
Multifamily Units
Amenities
fenced backyard
outdoor space
Building Details
Year Built
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Danielle Mayers Dyall · License FL #3619078
(954) 899-1458
Source:
Endlesssummerrealty
Added: Oct 31
Changed: Nov 10
Last Checked: Nov 10 at 8:24AM
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 LPT REALTY, LLC
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Investment Insights
Based on property information with market context.
This duplex contains two separate residences, each arranged with 2 bedrooms, 1 full bathroom, a kitchen, and a living area. Appliances are included in both units, and the property has a fenced backyard. The building was constructed in 1983 and contains 1,736 square feet in total.
At 2526 Elm Avenue in Lake Wales, the property is within reach of shopping, grocery stores, restaurants, schools, and local services. Historic Downtown Lake Wales, Lake Wailes Park, and Bok Tower Gardens are also in the surrounding area, with connections via US Highway 27 and State Road 60.
At 2526 Elm Avenue in Lake Wales, the property is within reach of shopping, grocery stores, restaurants, schools, and local services. Historic Downtown Lake Wales, Lake Wailes Park, and Bok Tower Gardens are also in the surrounding area, with connections via US Highway 27 and State Road 60.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bathroom
- 1,736 square feet total
- Built in 1983
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,472
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,440
$369.4K
Cap Rate 7%
$263,886
$263.9K
Cap Rate 9%
$205,244
$205.2K
Market Conditions
NOI Build-Up for 1,736 SF
Gross rent
$28.1K $16.20/SF
− Vacancy
−$1.7K −$1.00/SF
EGI
$26.4K $15.20/SF
− OpEx
−$7.9K −$4.56/SF
NOI
$18.5K $10.64/SF
Area
Polk County, FL
Vacancy
6.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,440
Cap Rate 7%
$263,886
Cap Rate 9%
$205,244
Alternative Uses
Best Use
Multifamily LT 5
$263.9K
$230.9K – $307.9K
NOI $18,472 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$243.3K
$212.9K – $283.9K
NOI $17,033 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$443.3K
$387.9K – $517.2K
NOI $31,029 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Explore this area
Business Placement
Demographics for 33898, FL
17,971
Population
10,080
Households
1.8
Avg Household Size
51
Median Age
17%
College-Educated
85%
High-School Grad
296.9 sq mi
ZIP Area
61
Density / Sq Mi
$54,778
Median Household Income
$32,414
Median Earnings
$1,122
Median Rent
$161,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Polk County, FL
Properties on Market for Duplexes in Polk County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two 2-bedroom residences each have a kitchen, living area, and appliances, with outdoor space behind the property.
Where is this duplex located?
The property is located at 2526 ELM AVENUE Lake Wales, FL.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bathroom; 1,736 square feet total; Built in 1983
