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980 S Lake Shore Way 3 Unit Apartment Building $500,000 ($166,667/Unit) Lake Alfred, FL 33850
Investment Highlights
- Highly visible location on a primary divided highway through Lake Alfred’s main corridor.
- Currently improved with three tenant-occupied residential units for near-term income potential.
- Close proximity to restaurants, retail, and local community amenities in a growing trade area.
- 0.48-acre site with 2,506 SF of existing improvements.
- Zoned C-1, supporting a broad range of commercial, retail, or professional office uses (verify with local authorities).
Executive Summary
Prime redevelopment opportunity located in the heart of Lake Alfred along the city’s main corridor. This highly visible property sits directly on a divided highway through the central stretch of town, offering excellent exposure and accessibility. The property currently includes three residential units, all of which are tenant-occupied, providing potential interim income while future plans are considered. With its strategic location along a major thoroughfare and within close proximity to local businesses, dining, and community amenities, the site presents significant potential for future redevelopment or investment. 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.
Property Facts
| Price | $500,000 | Building Class | C |
| Price Per Unit | $166,667 | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 2,550 SF |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Parking Ratio | 2.75/1,000 SF |
| Zoning | C1 - General Commercial | ||
| Price | $500,000 |
| Price Per Unit | $166,667 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 2,550 SF |
| No. Stories | 2 |
| Year Built | 1920 |
| Parking Ratio | 2.75/1,000 SF |
| Zoning | C1 - General Commercial |
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Somewhat walkable
30/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 26-28-05-525000-003070 | Improvements Assessment | $35,867 |
| Land Assessment | $50,000 | Total Assessment | $85,867 |
Property Taxes
Parcel Number
26-28-05-525000-003070
Land Assessment
$50,000
Improvements Assessment
$35,867
Total Assessment
$85,867
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980 S Lake Shore Way
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