Remodeled Duplex with Detached
542 & 540 S CLAYTON AVENUE Lakeland, FL 33801
542 & 540 S CLAYTON AVENUE, Lakeland, FL, 33801
$525,000
For Sale
$525,000
Two remodeled residences on one lot, plus a detached concrete block storage building with electricity and a half bath.
Property Size2,529 SF
Price / SF$207.59
Days on Market8
Property Features for 542 & 540 S CLAYTON AVENUE
General Information
- Standard status
- Active
- Size
- 2,529 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 1953
Listing agency
REGAL REAL ESTATE LLC
(863) 660-7927
Listed by
Debbie Ward-Terry · License #3015960
Source
Endlesssummerrealty
Added: Jul 15 Updated: Jul 21 at 12:07PM Checked: Jul 22 at 4:53AM
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 REGAL REAL ESTATE LLC
Investment Insights
Based on property information with market context.
This property includes two remodeled homes on one lot, offering flexible residential income configuration. The larger residence has 4 bedrooms and 2 bathrooms with a spacious living room, separate family room, inside laundry, and an updated kitchen with new cabinetry, countertops, and appliances. The second home features 2 bedrooms and 1 bathroom, along with a single-car garage and an adjoining storage/laundry room with washer and dryer hookups. Both homes include luxury vinyl plank flooring, fresh interior paint, new ceiling fans, and remodeled kitchens with new cabinets, countertops, and appliances.
A detached 29' x 22' concrete block storage building on the same lot adds additional utility, with electricity and a half bath that can support workshop, hobby, or storage use. The property is described as conveniently located in the heart of Lakeland and within a short walk to Lake Hollingsworth and Lake Morton.
Overall, it presents a move-in-ready duplex setup with a substantial detached storage improvement on-site.
A detached 29' x 22' concrete block storage building on the same lot adds additional utility, with electricity and a half bath that can support workshop, hobby, or storage use. The property is described as conveniently located in the heart of Lakeland and within a short walk to Lake Hollingsworth and Lake Morton.
Overall, it presents a move-in-ready duplex setup with a substantial detached storage improvement on-site.
Key Highlights
- Two remodeled homes on one lot: 1,679 SF main residence plus a second remodeled 2‑bed/1‑bath home
- Main home offers 4 bedrooms, 2 bathrooms, a spacious living room and separate family room, plus inside laundry
- Main home updates include a new kitchen (new cabinetry, countertops, appliances) and luxury vinyl plank flooring, fresh interior paint, and new ceiling fans
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 | $41.0k | $16.20 |
| − Vacancy | −$2.7k | −$1.05 |
| EGI | $38.3k | $15.15 |
| − OpEx | −$11.5k | −$4.54 |
| NOI | $26.8k | $10.60 |
2,529 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$383.1K
$335.2K – $446.9K
NOI $26,815 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$342.2K
$299.4K – $399.2K
NOI $23,954 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$607.7K
$531.8K – $709.0K
NOI $42,542 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two remodeled residences on one lot, plus a detached concrete block storage building with electricity and a half bath.
Where is this duplex located?
The property is located at 542 & 540 S CLAYTON AVENUE Lakeland, FL.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two remodeled homes on one lot: 1,679 SF main residence plus a second remodeled 2‑bed/1‑bath home; Main home offers 4 bedrooms, 2 bathrooms, a spacious living room and separate family room, plus inside laundry; Main home updates include a new kitchen (new cabinetry, countertops, appliances) and luxury vinyl plank flooring, fresh interior paint, and new ceiling fans
