Two-Unit Duplex with Fenced
For Sale
$409,000
640 E GRAPEFRUIT Avenue, Lake Alfred, FL 33850
Residential Income, LAKE ALFRED, FL
Property Size1,800 SF
Lot Size0.17 Acres
Price / SF$227.22
Days on Market53
Property Features for 640 E GRAPEFRUIT Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-2
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 3, Bedroom 1, Family Room, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 3, Bathroom 1
Window features
Drapes, Window Treatments, Blinds
Interior features
Ceiling Fans(s), Crown Molding, Eat-in Kitchen, High Ceilings, Kitchen/Family Room Combo, Open Floorplan, Primary Bedroom Main Floor, Thermostat, Walk-In Closet(s), Window Treatments
Exterior features
Fence, Private Mailbox, Sidewalk
Fencing
Fenced
Appliances
Dishwasher, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Subdivision
HIGHLAND SUB
Directions
Lakeland east toward Auburndale/Lake Alfred using Hwy 92e. Connect on US 17/92to E Main St. Left N 3rd st right to Grapefruit Ave. Continue to 640 E Grapefruit Ave Lake Alfred FL
Standard status
Active
APN
26-27-28-493500-001130
Size
1,800 SF
Lot size
0.17 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
HIGHLAND SUB PB 4 PG 2 BLK A LOT 13
Tax Annual Amount
5987
Legal Description
HIGHLAND SUB PB 4 PG 2 BLK A LOT 13
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
fully fenced yard
upgraded stainless steel appliances
Building Details
Year built
2023
Floors in Building
1
Flooring type
Tile, Laminate
Building materials
Block
Roof type
Shingle
Buildings
1
Listing Agency:
BOKORS CORNER REALTY LLC
Listed By:
Sharon Bokor
(813) 708-2266
Added: Sep 3
Changed: Oct 25
Last Checked: Oct 25 at 7:06AM
MLS# R4911803
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 2023, this block duplex contains two residences with a combined 1,800 square feet. Each side has two bedrooms and two bathrooms, with an open floor plan, an eat-in kitchen, and a primary bedroom on the main floor. Interior details include laminate and tile flooring, crown molding, ceiling fans, and walk-in closets. Both units have central heating and air conditioning, and the property includes a fenced yard.
The property occupies approximately 0.17 acres at 640 E Grapefruit Avenue in Lake Alfred. It is zoned R-2, with public water and sewer service. US-17/92 and I-4 are identified as nearby routes.
The property occupies approximately 0.17 acres at 640 E Grapefruit Avenue in Lake Alfred. It is zoned R-2, with public water and sewer service. US-17/92 and I-4 are identified as nearby routes.
Key Highlights
- Two‑unit duplex with 1,800 square feet total
- Each residence has 2 bedrooms and 2 bathrooms
- Built in 2023; block construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,085
Cap Rate
4.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$381,700
$381.7K
Cap Rate 7%
$272,643
$272.6K
Cap Rate 9%
$212,056
$212.1K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$29.2K $16.20/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$27.3K $15.15/SF
− OpEx
−$8.2K −$4.54/SF
NOI
$19.1K $10.60/SF
Area
Polk County, 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%
$381,700
Cap Rate 7%
$272,643
Cap Rate 9%
$212,056
Alternative Uses
Best Use
Multifamily LT 5
$272.6K
$238.6K – $318.1K
NOI $19,085 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$243.6K
$213.1K – $284.2K
NOI $17,049 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$432.6K
$378.5K – $504.7K
NOI $30,279 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 33850, FL
9,119
Population
4,947
Households
1.8
Avg Household Size
45
Median Age
24%
College-Educated
89%
High-School Grad
16.8 sq mi
ZIP Area
543
Density / Sq Mi
$53,877
Median Household Income
$36,563
Median Earnings
$1,072
Median Rent
$215,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms, two bathrooms, and an open living area.
Where is this duplex located?
The property is located at 640 E GRAPEFRUIT Avenue Lake Alfred, FL.
What is the asking price?
The asking price for this property is $409,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,800 square feet total; Each residence has 2 bedrooms and 2 bathrooms; Built in 2023; block construction
