Michelle Fortner
BEDS4
BATHS
SQUARE FEET1,800
MLS#R4911803
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONHIGHLAND
Property Description
Prime investment opportunity in Lake Alfred! Built in 2023, this modern, turn-key duplex delivers instant cash flow with tenants already in place. Sitting on a ~0.17-acre lot with a private, fully fenced yard and NO HOA, this property offers ultimate flexibility for hands-off landlords or house-hackers looking to live in one side and offset their mortgage.Both units boast a functional, open-concept 2-bedroom, 2-bathroom layout finished with fresh paint, durable low-maintenance flooring, and upgraded stainless steel appliances. Positioned right in the heart of town, residents enjoy fast access to US-17/92 and I-4 for effortless commutes to Orlando or Tampa, along with close proximity to local lakes, the Chain of Lakes Trail, and a planned Publix-anchored development.Portfolio Opportunity: Motivated seller! Can be acquired individually or bundled with the matching, 1,800 sq ft duplex right next door at 650 E Grapefruit Ave (Parcel:26-27-28-493500-001141) for a target 6.24% portfolio cap rate. Multiple financing options available-schedule your private tour today!
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air
Heating: Central
Lot Size: 0.17 Acres
Roof Type: Shingle
Stories: 1.0
Taxes: $5,987
Year Built: 2023
Amenities
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
Fence
Private Mailbox
Sidewalk
Feature Descriptions
Annual Net Income: 28778.00
Appliances: Dishwasher, Dryer, Gas Water Heater, Microwave, Range, Refrigerator, Washer
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
Exterior: Block
Flood Zone Code: X
Flooring: Laminate, Tile
Foundation: Slab
Home Warranty Y/N: No
Lease Terms: 6-12 Month
Listing Terms: Cash, Conventional, FHA, Private Financing Available, Special Funding, VA Loan
Lot Dimensions: 0.17
Ownership: Fee Simple
Property Attached Y/N: No
Property Sub-Type: Duplex
Security: Fire Alarm
Sewer: Public Sewer
Showing Instructions: 24 Hour Notice, Call Before Showing, Combination Lock Box, Lock Box Coded, See Remarks, ShowingTime
Special Sale Provisions: None
Utilities: Cable Available, Electricity Connected, Phone Available, Sewer Connected, Water Connected
Water: Public
Water Access Y/N: No
Windows: Blinds, Drapes, Shades, Window Treatments
Zoning: R-2
Listed By / Shown By
Listed By
Agency Name: BOKORS CORNER REALTY LLC
Agency Contact: 813-708-2266
Shown By
Agent Name: Michelle Fortner
Agent Phone: (813) 743-5292
Agency Title: Florida Executive Realty
Estimate Your Payment
Estimated Payment
$ 1,603.98 per month $977.02 Principal & Interest $498.92 Property Tax $128.04 Homeowner's InsuranceChange Payment Information
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640 E Grapefruit Avenue | MLS# R4911803
This multi-family property located at 640 E Grapefruit Avenue, Lake Alfred, FL 33850 is currently listed for sale with an asking price of $439,000. Search Lake Alfred real estate on mfortner.floridaexecutiverealty.com today.