Three-Unit
New
For Sale
$389,900
875 S LAKE SHORE Way, Lake Alfred, FL 33850
Three rental units in a triplex built in 1945, with bikeScore 29 and walkScore 12 indicating car-dependent access.
Days on Market4
Property Features for 875 S LAKE SHORE Way
General Information
Standard status
Active
Property subtype
Investment
Additional Details
Gross Income
$68,400
Building Details
Building Size
1,609 SF
Year Built
1945
Tenancy
Multi
Listing Agency:
La Rosa Realty, Llc
(407) 883-5297
Listed By:
Christopher Rivera Alamo · License #3484310
(407) 883-5297
Source:
Elliman
Added: Jul 28
Changed: Jul 30
Last Checked: Jul 31 at 10:15AM
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 La Rosa Realty, Llc
Investment Insights
Based on property information with market context.
This three-unit triplex is an income-producing residential property. The arrangement includes three rental units described as grandfathered rentals. The building was constructed in 1945.
The property is located at 875 S LAKE SHORE Way, Lake Alfred, FL 33850. Access and surrounding mobility options are reflected by a bikeScore of 29 (Somewhat Bikeable) and a walkScore of 12 (Car-Dependent).
With its multi-unit setup and existing residential income structure, this property may appeal to investors seeking straightforward ownership of a small rental portfolio within the commercial-residential corridor context referenced in the remarks.
The property is located at 875 S LAKE SHORE Way, Lake Alfred, FL 33850. Access and surrounding mobility options are reflected by a bikeScore of 29 (Somewhat Bikeable) and a walkScore of 12 (Car-Dependent).
With its multi-unit setup and existing residential income structure, this property may appeal to investors seeking straightforward ownership of a small rental portfolio within the commercial-residential corridor context referenced in the remarks.
Key Highlights
- Three rental units described as grandfathered rentals
- Triplex built in 1945
- bikeScore 29 (Somewhat Bikeable)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.1k | $16.20 |
| − Vacancy | −$1.7k | −$1.05 |
| EGI | $24.4k | $15.15 |
| − OpEx | −$7.3k | −$4.54 |
| NOI | $17.1k | $10.60 |
1,609 SF · lease $16.20/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$243.7K
$213.3K – $284.3K
NOI $17,060 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$217.7K
$190.5K – $254.0K
NOI $15,240 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$386.7K
$338.3K – $451.1K
NOI $27,066 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
241
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three rental units in a triplex built in 1945, with bikeScore 29 and walkScore 12 indicating car-dependent access.
Where is this triplex located?
The property is located at 875 S LAKE SHORE Way Lake Alfred, FL.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Three rental units described as grandfathered rentals; Triplex built in 1945; bikeScore 29 (Somewhat Bikeable)
