

Overview
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About this home
118 S Waterloo Ave is a 1917-built home in Nichols & Waring OR Ozone Park, Lakeland. Inside you'll find 4 bedrooms, 2 bathrooms, and 2,412 square feet of living space. Listed at $535,000 (about $222/sqft), 2 days on market. Flood zone X - outside the FEMA high-risk areas, which keeps insurance manageable.
RARE OPPORTUNITY IN THE HEART OF DOWNTOWN LAKELAND! Historic charm meets investment potential in this distinctive 1917 duplex offering approximately 2,412 square feet per public records, multi-family zoning, and NO HOA! Whether you're looking to expand your investment portfolio or live in one unit while renting out the other, this property offers exceptional versatility in a sought-after downtown location. Built with cedar wood framing, this charming property features two separate living units. The first-floor unit offers 2 bedrooms, 1 bathroom, beautiful real wood flooring, a kitchen with granite countertops, and a flexible bonus space with a washer and dryer, ideal for a family room, home office, or hobby area. The second-floor unit features 1 bedroom, 1 bathroom, and an additional multipurpose room, offering flexibility to suit a variety of needs. The upstairs unit also has its own gas and electric meters. Step outside and discover one of this property's standout features: a spacious covered deck designed for outdoor living and entertaining! The outdoor kitchen features a farmhouse-style sink, cabinetry, a built-in grill, and a wine cooler, with the grill and wine cooler INCLUDED IN THE SALE! Whether hosting weekend gatherings or simply enjoying a quiet Florida evening, this inviting outdoor space is sure to impress. The front yard showcases distinctive landscaping with decorative stone and a variety of succulents, creating beautiful curb appeal with minimal lawn maintenance. Additional highlights include a NEW ROOF installed in April 2025 and a first-floor water heater approximately 6 years old. And let's talk about LOCATION! Just a short walk from scenic Lake Mirror, the beautiful 1.2-acre Hollis Garden, The Joinery artisan food hall, and Downtown Lakeland's vibrant selection of restaurants, shops, and entertainment. Enjoy the convenience of having some of the city's most popular destinations right outside your door! BOTH UNITS WILL BE DELIVERED VACANT AT CLOSING, allowing the next owner the flexibility to move in, lease the units, or explore other permitted uses. With NO HOA, historic character, and an unbeatable downtown location, this is a unique opportunity you won't want to miss! Schedule your private showing today. Buyer and buyer's agent to verify square footage, measurements, zoning, and intended uses.
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The essentials
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Taxes reflect the most recent assessment in the MLS feed. Actual tax owed can vary, so confirm with the county property appraiser before closing.
Price history
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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
$535,000
$222 per sq ft
Beds and baths
4 beds, 2 baths
Size
2,412 sq ft
Time on market
2 days
Year built
1917
Monthly payment
About $3,180/mo
That is 20% down on a 30-year fixed at 6.8%, plus the home's $1,469 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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