980 S Lake Shore Way, Lake Alfred, FL 33850

$399,000
6
BD
4
BA
2,506
SqFt

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List Price
$399,000
Price Change
▼ $50,900 1791492584
MLS#
L4965144
Bedrooms
6
Bathrooms
4
Sq. Ft
2,506
Lot Size
20,870
Subtype
Single Family
County
Polk
Community
No Deed Restriction
Subdivision
Rochelle Terrace
Region
Lake Alfred
Year Built
1920

Property Description

INVESTMENT OPPORTUNITY IN LAKE ALFRED! Located at 980 S Lakeshore Way, this unique multi-unit property offers excellent visibility, convenient access, and significant potential for an investor looking to add value and increase rental income. Situated on a prominent corner with frontage along a well-traveled roadway, the property consists of three separate buildings with four residential units, providing a total of 6 bedrooms and 4 bathrooms. The unit mix includes a two-story building with separate upstairs and downstairs residences, along with two additional detached residential buildings. Three units are currently occupied, including established long-term tenants, while one unit is vacant and offers an immediate opportunity for renovation and repositioning. Current rental income is approximately $1,370 per month, with owner-provided estimated market rents totaling approximately $3,400 per month, creating substantial potential for increased income as units are improved and rents are brought closer to market rates. With multiple structures, existing rental history, prominent road frontage, a corner location, and room for property improvements, this property presents an intriguing opportunity for an investor with a vision. Property is being offered in its current condition. Bring your ideas and explore the possibilities this Lake Alfred investment property has to offer. Whether you’re looking to hold as an income-producing property or explore development possibilities in a growing area, this property offers exceptional visibility and location within Lake Alfred’s main commercial corridor.

Additional Information

Heating
Ductless
Cooling
Wall/Window Unit(s)
Roof
Metal
Sewer
Public Sewer
Exterior Features
Sidewalk
Construction
Frame
Living Area
2,506
Elementary School
Lake Alfred Elem
Middle School
Stambaugh Middle
High School
Auburndale High School

Listing courtesy of CENTURY 21 MYERS REALTY. Contact: 863-875-5656

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