Price Reduced Listing
$399,000
 $2,142 est/mo Sourced by Back At You

980 S Lake Shore Way,LAKE ALFRED, FL 33850

LAKE ALFRED, FL 33850

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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.

Details

MLS #L4965144
Listing TypeFor Sale
StyleHouse
Sub-TypeFor-sale
StatusActive
Year1920
Days On Site20
Listing Provided ByCENTURY 21 MYERS REALTY | Tony Acosta

Features

Bed(s)6
Bath(s) 4 Total
SQ Feet2,506
Garage1
Story(s)2
ZoningC-1
Acreage0.48

Taxes

Property1647

Area Information

StateFL
CountyPolk
CityLAKE ALFRED
Zip Code33850
Area33850 Lake Alfred
Community NameROCHELLE TERRACE
School DistrictAuburndale High School
Elementary SchoolLake Alfred Elem
High SchoolAuburndale High School
Listing VS Median (in ROCHELLE TERRACE)
Price:
$399,000
low | high
Med:
$399,000
50% of Average
sqft:
2,506
low | high
Med:
2,506
50% of Average
$ / sqft:
$159
low | high
Med:
$159
50% of Average
On site:
20
low | high
Med:
110.5
18.099547511312% of Average
Sourced by Back At You

Market Activity 33850

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 Listings courtesy of Stellar MLS as distributed by MLS GRID.Based on information submitted to the MLS GRID as of October 12, 2026 at 12:19:01 AM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com. “The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

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Learn More About This Property

StateFL
CountyPolk
CityLAKE ALFRED
Zip Code33850
Area33850 Lake Alfred
Community NameROCHELLE TERRACE
School DistrictAuburndale High School
Elementary SchoolLake Alfred Elem
High SchoolAuburndale High School
Listing VS Median (in ROCHELLE TERRACE)
Price:
$399,000
low | high
Med:
$399,000
50% of Average
sqft:
2,506
low | high
Med:
2,506
50% of Average
$ / sqft:
$159
low | high
Med:
$159
50% of Average
On site:
20
low | high
Med:
110.5
18.099547511312% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $299K - $498K
sqft: 1,500 - 3,000
Nearby Listings Property ImageNearby Listings Details
980 S LAKE SHORE WAY Property Photo 1
$399,000
980 S Lake Shore Way
Lake Alfred, FL 33850
Listing Updated: October 8, 2026 at 11:25:43 AM PDT