Duplex with Covered
New
For Sale
$285,000
2538 Chestnut Woods Dr, Lakeland, FL 33815
Residential Income, Lakeland, FL
Property Size2,006 SF
Price / SF$142.07
Days on Market2
Property Features for 2538 Chestnut Woods Dr
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
RB-2
Bedrooms
4
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 1
Parking
4
Subdivision
Chestnut Woods sub
Lot features
< 1/4 Acre
Standard status
Active
APN
23-28-15-086120-000320
Size
2,006 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
Verify recorded legal description
Tax Annual Amount
3901
Legal Description
Verify recorded legal description
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Amenities
inside laundry room
covered carport parking
Building Details
Year built
1980
Floors in Building
1
Flooring type
Concrete
Building materials
Brick
Roof type
Shingle
Listing Agency:
Luxe Properties
(305) 809-7650
Listed By:
Humberto Di Mare · License #3488984
(786) 212-5832
Added: Oct 27
Last Checked: Oct 28 at 4:06PM
MLS# A12113928
Copyright © 2026 Miami REALTORS®. 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 2,006-square-foot duplex in Lakeland contains two 2-bedroom, 1-bathroom units. One unit is rented and the other is vacant. Both residences have living areas, kitchens, split bedrooms, indoor laundry rooms, and covered carport parking. The building was constructed in 1980 with brick exterior materials, central heating and air conditioning, a shingle roof, and public sewer service.
The property sits on a dead-end street and is near schools, shopping, and major distribution centers, with access to I-4. The two-unit configuration includes four bedrooms and two bathrooms overall.
The property sits on a dead-end street and is near schools, shopping, and major distribution centers, with access to I-4. The two-unit configuration includes four bedrooms and two bathrooms overall.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- 2,006 square feet; built in 1980
- One unit rented and one vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,269
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,380
$425.4K
Cap Rate 7%
$303,843
$303.8K
Cap Rate 9%
$236,322
$236.3K
Market Conditions
NOI Build-Up for 2,006 SF
Gross rent
$32.5K $16.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$30.4K $15.15/SF
− OpEx
−$9.1K −$4.54/SF
NOI
$21.3K $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%
$425,380
Cap Rate 7%
$303,843
Cap Rate 9%
$236,322
Alternative Uses
Best Use
Multifamily LT 5
$303.8K
$265.9K – $354.5K
NOI $21,269 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$271.4K
$237.5K – $316.7K
NOI $19,001 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$482.1K
$421.8K – $562.4K
NOI $33,744 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
50%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
310
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 - One residence is rented, while the second unit is vacant and ready for occupancy.
Where is this duplex located?
The property is located at 2538 Chestnut Woods Dr Lakeland, 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 2‑bedroom, 1‑bathroom units; 2,006 square feet; built in 1980; One unit rented and one vacant
