Updated Duplex with New
New
For Sale
$300,000
613 PLATEAU AVENUE, Lakeland, FL 33815
Two matching residences offer refreshed finishes, individual mini-split systems, laundry hookups, and included kitchen appliances.
Property Size1,096 SF
Price / SF$273.72
Days on Market6
Property Features for 613 PLATEAU AVENUE
General Information
Standard status
Active
Size
1,096 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1951
Construction
concrete-block
Listing Agency:
BEYCOME OF FLORIDA LLC
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
(844) 239-2663
Source:
Dennisrealty
Added: Oct 5
Changed: Oct 9
Last Checked: Oct 7 at 12:15PM
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 BEYCOME OF FLORIDA LLC
Investment Insights
Based on property information with market context.
Built in 1951, this 1,096-square-foot duplex contains two units, each with two bedrooms and one bathroom. Both residences have updated interiors with granite countertops, shaker-style cabinets, tiled showers, mini-split air conditioning, and laundry hookups. Refrigerators and ranges are included, and one unit is vacant. The property also has a new roof and new driveways, with concrete-block construction.
The duplex is one of three adjacent parcels available individually, in combinations of two, or as an eight-unit portfolio. The neighboring properties include another duplex and two additional duplex buildings with four units total.
The duplex is one of three adjacent parcels available individually, in combinations of two, or as an eight-unit portfolio. The neighboring properties include another duplex and two additional duplex buildings with four units total.
Key Highlights
- Two‑unit duplex totaling 1,096 square feet
- Built in 1951 with concrete‑block construction
- Both units have 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,621
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$232,420
$232.4K
Cap Rate 7%
$166,014
$166.0K
Cap Rate 9%
$129,122
$129.1K
Market Conditions
NOI Build-Up for 1,096 SF
Gross rent
$17.8K $16.20/SF
− Vacancy
−$1.2K −$1.05/SF
EGI
$16.6K $15.15/SF
− OpEx
−$5.0K −$4.54/SF
NOI
$11.6K $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%
$232,420
Cap Rate 7%
$166,014
Cap Rate 9%
$129,122
Alternative Uses
Best Use
Multifamily LT 5
$166.0K
$145.3K – $193.7K
NOI $11,621 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$148.3K
$129.8K – $173.0K
NOI $10,381 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$263.4K
$230.5K – $307.3K
NOI $18,436 @ 7.0% cap · market cap 6.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer refreshed finishes, individual mini-split systems, laundry hookups, and included kitchen appliances.
Where is this duplex located?
The property is located at 613 PLATEAU AVENUE Lakeland, FL.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,096 square feet; Built in 1951 with concrete‑block construction; Both units have 2 bedrooms and 1 bathroom
