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About this home
980 S Lake Shore Way is a 1920-built home in Rochelle Terrace, Lake Alfred. Inside you'll find 6 bedrooms, 4 bathrooms, and 2,506 square feet of living space. Listed at $399,000 (about $159/sqft), 27 days on market. Flood zone X - outside the FEMA high-risk areas, which keeps insurance manageable.
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.
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The essentials
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Districts can re-zone, so verify directly with the district before relying on these.
Taxes reflect the most recent assessment in the MLS feed. Actual tax owed can vary, so confirm with the county property appraiser before closing.
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Property taxes are this home's actual annual bill from the MLS, divided by twelve. Insurance estimated at 0.60%. Rate defaults to 6.8% on a 30-year fixed. Tap a pencil to use your own numbers. Estimates only, not a loan quote.
Quick answers.
Price
$399,000
$159 per sq ft
Beds and baths
6 beds, 4 baths
Size
2,506 sq ft
Time on market
27 days
Year built
1920
Monthly payment
About $2,418/mo
That is 20% down on a 30-year fixed at 6.8%, plus the home's $1,647 annual tax bill, insurance.
Flood zone
Zone X
That is outside the high-risk areas, so flood insurance is usually optional rather than required by a lender.
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