About 980 S Lake Shore Way
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.
Features of 980 S Lake Shore Way
| MLS® # | L4965144 |
|---|---|
| Price | $449,900 |
| Bedrooms | 6 |
| Bathrooms | 4.00 |
| Full Baths | 4 |
| Square Footage | 2,506 |
| Acres | 0.48 |
| Year Built | 1920 |
| Type | Residential |
| Sub-Type | Single Family Residence |
| Status | Active |
Listing Details
| Office | CENTURY 21 MYERS REALTY |
|---|
Listing Map
Neighborhood Information for 980 S Lake Shore Way
Stable Population, Moderate Residential Turnover
Statistics
Number of Listings
Population Age
Home Listings Prices
Nearby Schools
| Great Schools | School Name | Distance | |
|---|---|---|---|
|
Lake Alfred Elementary School Public - Preschool to 5Th Grade - Closest Elementry School |
1 Miles | |
|
Hartridge Academy Public - Kindergarten to 5Th Grade |
1 Miles | |
|
Lake Alfred-Addair Middle School Public - 6Th Grade to 8Th Grade - Closest Middle School |
2 Miles | |
|
|
Discovery Academy Of Lake Alfred Public - 6Th Grade to 8Th Grade |
2 Miles | |
|
The Christian Academy Of Winter Haven Inc Private - to |
2 Miles | |
|
|
Karen M. Siegel Academy Public - Preschool to 12Th Grade |
2 Miles | |
|
|
Discovery High School Public - 9Th Grade to 12Th Grade |
2 Miles |
School data provided by GreatSchools