Renovated
New
For Sale
$350,000
617 PLATEAU Avenue, Lakeland, FL 33815
Residential Income, LAKELAND, FL
Property Size1,320 SF
Lot Size0.18 Acres
Price / SF$265.15
Days on Market1
Property Features for 617 PLATEAU Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
RB-2
Bathrooms
123
Interior features
Primary Bedroom Main Floor
Subdivision
PLATEAU BEAUTIFUL
Directions
Drive west on West Main St. Enter the roundabout and take the 2nd exit onto West Main St. Right to Olive St. Left to Plateau Ave. Right to Wayman St. Property is on the right.
Standard status
Active
APN
23-28-23-105500-004192
Size
1,320 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2025
Tax 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
Tax Annual Amount
1987
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
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Water source
Public
Building Details
Year built
1951
Building materials
Block
Roof type
Membrane
Listing Agency:
BEYCOME OF FLORIDA LLC
(804) 656-5007
Listed By:
Steven Koleno · License #3469487
(844) 239-2663
Added: Oct 6
Last Checked: Oct 6 at 6:06PM
MLS# O6447582
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This block duplex contains two residences, each configured with two bedrooms and one bathroom. A full interior renovation included replacement electrical and plumbing systems, along with hurricane windows. The building dates to 1951 and has central electric heating, a membrane roof, and a primary bedroom on the main floor in each unit.
The property occupies a 7,714-square-foot parcel and is zoned RB-2. Public water and sewer serve the site. One residence is occupied under a lease ending February 28, 2027; the second is vacant.
The property occupies a 7,714-square-foot parcel and is zoned RB-2. Public water and sewer serve the site. One residence is occupied under a lease ending February 28, 2027; the second is vacant.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- Complete interior renovation included new electrical and plumbing systems
- Hurricane windows
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
Explore this area
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 - Each residence offers two bedrooms and one bathroom, with one unit currently vacant.
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 residences, each with 2 bedrooms and 1 bathroom; Complete interior renovation included new electrical and plumbing systems; Hurricane windows
