Renovated Duplex with Two-Bedroom
New
For Sale
$350,000
617 PLATEAU AVENUE, Lakeland, FL 33815
One residence is vacant, while the other has scheduled rent of $1,375 per month.
Property Size1,320 SF
Price / SF$265.15
Days on Market4
Property Features for 617 PLATEAU AVENUE
General Information
Standard status
Active
Size
1,320 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
laundry hookups
mini-split AC
0.18 acres
Membrane
Public Sewer
Additional parcels description:, Parcel Number: 23-28-23-105500-004192, Public Survey Range: 23, Public Survey Section: 23, Annual Amount: $1,987, Tax Block: 4, Tax Book Number: 7-7, Legal Description: PLATEAU BEAUTIFUL PB 7 PG 7 BLK 4 PART OF LOTS 19 & 20 DESC AS: COMM NE COR OF SAID BLK 4 RUN S 01 DEG 03' 38"W ALONG W R/W LINE OF PLATEAU AVE 194.50 FT TO POB CONT S 01 DEG 03' 38"W ALONG W R/W LINE 67.55 FT TO PT ON N R/W LINE OF WAYMAN ST RUN N 8 9 DEG 52' 55"W ALONG R/W LINE 113.06 FT N 00 DEG 29' 45"E 68.71 FT S 89 DEG 17' 37"E 113.78 FT TO POB, Lot: 19, Year: 2025, Zoning: RB-2
Mini-Split Unit(s)
Central, Electric
Inside, Washer Hookup
Listing ID: MFRO6447582, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, On market as of 2026-10-06, 1 day on market, Special Conditions: None
2472 total bedrooms
Built in 1951, Living area: 1320, Living area units: Square Feet, Construction Materials: Block
Subdivision: PLATEAU BEAUTIFUL, MLS Area (Major): 33815 - Lakeland, County/Parish: Polk
1236 total bathrooms
Electricity Connected, Public, Sewer Connected, Water Connected, Water Source: Public
Slab
Road Surface: Asphalt, Paved
Primary Bedroom Main Floor
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:
Miharaandassociates
Added: Oct 6
Changed: Oct 7
Last Checked: Oct 7 at 11:58AM
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.
This duplex contains two 2-bedroom, 1-bathroom residences built with concrete-block construction. Both units have new drywall, granite countertops, shaker cabinets, tiled showers and floors, hurricane windows, mini-split air conditioning, and laundry hookups. Electrical wiring and plumbing were replaced in each residence, and the property has a new roof and driveways. The building dates to 1951.
One unit is vacant and the other has scheduled rent of $1,375 per month. The residences have matching layouts and interior improvements.
One unit is vacant and the other has scheduled rent of $1,375 per month. The residences have matching layouts and interior improvements.
Key Highlights
- Two 2‑bedroom, 1‑bathroom residences
- Concrete‑block construction
- New roof and driveways
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,996
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$279,920
$279.9K
Cap Rate 7%
$199,943
$199.9K
Cap Rate 9%
$155,511
$155.5K
Market Conditions
NOI Build-Up for 1,320 SF
Gross rent
$21.4K $16.20/SF
− Vacancy
−$1.4K −$1.05/SF
EGI
$20.0K $15.15/SF
− OpEx
−$6.0K −$4.54/SF
NOI
$14.0K $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%
$279,920
Cap Rate 7%
$199,943
Cap Rate 9%
$155,511
Alternative Uses
Best Use
Multifamily LT 5
$199.9K
$175.0K – $233.3K
NOI $13,996 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$178.6K
$156.3K – $208.4K
NOI $12,503 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$317.2K
$277.6K – $370.1K
NOI $22,205 @ 7.0% cap · market cap 6.34%
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 - One residence is vacant, while the other has scheduled rent of $1,375 per month.
Where is this duplex located?
The property is located at 617 PLATEAU AVENUE Lakeland, FL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom residences; Concrete‑block construction; New roof and driveways
