Duplex with New
For Sale
$169,900
Pending
325 DORSETT AVENUE A&B, Lake Wales, FL 33853
Block construction, two residential units, and current leases define the property’s configuration.
Property Size1,420 SF
Days on Market736
Property Features for 325 DORSETT AVENUE A&B
General Information
Standard status
Pending
Size
1,420 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$800
Taxes and HOA fees
Annual Taxes
$1,853
Building Details
Year Built
1961
Buildings
1
Construction
block construction
Tenancy
Multi
Listing Agency:
LA ROSA REALTY PRESTIGE
(863) 940-4850
Listed By:
Wes Fleming · License #3525300
(863) 666-4136
Source:
Exitrealty
Added: Oct 28, 2024
Changed: Oct 25
Last Checked: Sep 15 at 5:30AM
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 LA ROSA REALTY PRESTIGE
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1,420-square-foot duplex was built in 1961 and has block construction with a new roof. The property contains two residential units, each configured with two bedrooms and one bathroom. Both units are currently leased, with the existing lease terms ending in December.
Located in Lake Wales, Florida, the property is positioned on Dorsett Avenue and offers a two-unit residential income configuration within a single building. Its established construction, unit layout, and recent roof replacement provide the key physical characteristics for evaluating the asset.
Located in Lake Wales, Florida, the property is positioned on Dorsett Avenue and offers a two-unit residential income configuration within a single building. Its established construction, unit layout, and recent roof replacement provide the key physical characteristics for evaluating the asset.
Key Highlights
- Two 2‑bedroom, 1‑bathroom residential units
- 1,420 SF duplex built in 1961
- Block construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,056
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,120
$301.1K
Cap Rate 7%
$215,086
$215.1K
Cap Rate 9%
$167,289
$167.3K
Market Conditions
NOI Build-Up for 1,420 SF
Gross rent
$23.0K $16.20/SF
− Vacancy
−$1.5K −$1.05/SF
EGI
$21.5K $15.15/SF
− OpEx
−$6.5K −$4.54/SF
NOI
$15.1K $10.60/SF
Area
Polk County, 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%
$301,120
Cap Rate 7%
$215,086
Cap Rate 9%
$167,289
Alternative Uses
Best Use
Multifamily LT 5
$215.1K
$188.2K – $250.9K
NOI $15,056 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$192.1K
$168.1K – $224.2K
NOI $13,450 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$341.2K
$298.6K – $398.1K
NOI $23,887 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
492
Businesses Nearby
Explore this area
Business Placement
Demographics for 33853, FL
12,404
Population
5,483
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
85%
High-School Grad
8.7 sq mi
ZIP Area
1,426
Density / Sq Mi
$40,938
Median Household Income
$35,470
Median Earnings
$965
Median Rent
$198,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Block construction, two residential units, and current leases define the property’s configuration.
Where is this duplex located?
The property is located at 325 DORSETT AVENUE A&B Lake Wales, FL.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom residential units; 1,420 SF duplex built in 1961; Block construction
