Two-Unit Duplex with Fenced
For Sale
$409,000
650 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 650 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, Bathroom 2, Bathroom 1, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 1
Window features
Blinds
Interior features
Ceiling Fans(s), Crown Molding, Primary Bedroom Main Floor, Walk-In Closet(s), Window Treatments
Exterior features
Fence, Sidewalk
Fencing
Fenced
Appliances
Dishwasher, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Subdivision
HIGHLAND SUB
Directions
US-17 N, Lake Alfred from S Lake Shore Way/US-92 E/US-17 N Turn left onto N Dakota Ave Turn right onto E Tangerine Ave Turn left onto Lake Swoope Dr Turn right onto E Grapefruit Ave 650 E Grapefruit Ave, Lake Alfred, FL 33850
Standard status
Active
APN
26-27-28-493500-001141
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 14
Tax Annual Amount
5987
Legal Description
HIGHLAND SUB PB 4 PG 2 BLK A LOT 14
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
fully fenced yard
stainless steel appliances
Building Details
Year built
2023
Floors in Building
1
Flooring type
Laminate, Tile
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 6:06AM
MLS# R4911947
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.
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Investment Insights
Based on property information with market context.
Built in 2023, this block-construction duplex contains 1,800 square feet across two residences, each configured with two bedrooms and two bathrooms. The homes feature open living areas, laminate and tile flooring, central heating and air conditioning, and stainless steel appliances. A fenced yard and R-2 zoning are additional property features.
The duplex occupies a 0.17-acre lot in Lake Alfred. Public water and sewer serve the property, and cable is available. A separate 1,800-square-foot duplex at 640 E Grapefruit Avenue is also identified as an optional portfolio acquisition.
The duplex occupies a 0.17-acre lot in Lake Alfred. Public water and sewer serve the property, and cable is available. A separate 1,800-square-foot duplex at 640 E Grapefruit Avenue is also identified as an optional portfolio acquisition.
Key Highlights
- Two residences, each with a 2‑bedroom, 2‑bathroom layout
- 1,800 square feet of building area on a 0.17‑acre lot
- Built in 2023 with 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.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has a two-bedroom, two-bathroom plan with tenants in place.
Where is this duplex located?
The property is located at 650 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 residences, each with a 2‑bedroom, 2‑bathroom layout; 1,800 square feet of building area on a 0.17‑acre lot; Built in 2023 with block construction
