Income-Generating
875 S LAKE SHORE Way Lake Alfred, FL 33850
New
For Sale
$389,900
MULTI_FAMILY - LAKE ALFRED, FL
Property Size1,609 SF
Lot Size0.33 Acres
Price / SF$242.32
Days on Market3
Property Features for 875 S LAKE SHORE Way
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
C-1
Bedrooms
6
Bathrooms
3
Rooms
Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 1, Laundry Room, Bedroom 3, Bedroom 6
Interior features
Ceiling Fans(s), Open Floorplan
Exterior features
Garden, Private Mailbox, Private Yard, Storage
Basement
Partial, Crawl Space
Standard status
Active
APN
26-28-05-525000-002090
Size
1,609 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
ROCHELLE TERRACE PB 8 PG 44 BLK 2 LOTS 9 & 10 LESS ST RD 600
Tax Annual Amount
4043
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1945
Building materials
Stucco
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
LA ROSA REALTY LLC
(321) 939-3748
Listed By:
Christopher Rivera Alamo · License #3484310
(407) 883-5297
Added: Jul 27
Changed: Jul 28
Last Checked: Jul 29 at 9:06AM
MLS# S5154520
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 income-producing triplex includes three rental units and is described as generating approximately $5,700 per month in rental income. The property is presented as a “grandfathered” rental configuration, with the overall investment profile positioned around future value-add possibilities (buyer to verify details).
The property is located at 875 S Lake Shore Way in Lake Alfred, Florida, within Polk County. It is zoned C-1, which supports a commercial-area use context per the listing materials.
The offering is for sale and includes a 0.33-acre site and 1,609 square feet of property size as provided in the listing information.
The property is located at 875 S Lake Shore Way in Lake Alfred, Florida, within Polk County. It is zoned C-1, which supports a commercial-area use context per the listing materials.
The offering is for sale and includes a 0.33-acre site and 1,609 square feet of property size as provided in the listing information.
Key Highlights
- 3 rental units (grandfathered) generating approximately $5,700/month in rental income
- Central heating and central air
- Open floorplan with ceiling fans
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
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three rental units in C-1 zoning, currently producing approximately $5,700 per month in rental income.
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: 3 rental units (grandfathered) generating approximately $5,700/month in rental income; Central heating and central air; Open floorplan with ceiling fans
