Remodeled Duplex with Detached
For Sale
$479,000
542 & 540 S CLAYTON AVENUE, Lakeland, FL 33801
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$189.40
Days on Market107
Property Features for 542 & 540 S CLAYTON AVENUE
General Information
Standard status
Active
Size
2,529 SF
Property subtype
Duplex
Site & Location
Neighborhood
Historic Biltmore
Additional Details
Multifamily Units
2
Building Details
Year Built
1953
Listing Agency:
REGAL REAL ESTATE LLC
(863) 660-7927
Listed By:
Debbie Ward-Terry · License #3015960
(904) 687-7876
Source:
Endlesssummerrealty
Added: Jul 15
Changed: Oct 27
Last Checked: Oct 28 at 8:39AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,815
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$536,300
$536.3K
Cap Rate 7%
$383,071
$383.1K
Cap Rate 9%
$297,944
$297.9K
Market Conditions
NOI Build-Up for 2,529 SF
Gross rent
$41.0K $16.20/SF
− Vacancy
−$2.7K −$1.05/SF
EGI
$38.3K $15.15/SF
− OpEx
−$11.5K −$4.54/SF
NOI
$26.8K $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%
$536,300
Cap Rate 7%
$383,071
Cap Rate 9%
$297,944
Alternative Uses
Best Use
Multifamily LT 5
$383.1K
$335.2K – $446.9K
NOI $26,815 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$342.2K
$299.4K – $399.2K
NOI $23,954 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$607.7K
$531.8K – $709.0K
NOI $42,542 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
926
Businesses Nearby
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Business Placement
Demographics for 33801, FL
36,798
Population
15,365
Households
2.4
Avg Household Size
34
Median Age
16%
College-Educated
84%
High-School Grad
18.9 sq mi
ZIP Area
1,947
Density / Sq Mi
$49,210
Median Household Income
$30,055
Median Earnings
$1,100
Median Rent
$138,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
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 $479,000.
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
