118 S WATERLOO AVENUE
Lakeland, FL, 33801 $ 535,000
Bedrooms-- Baths0.0 Sq 2,412 Monthly Estimate*
$ 3,695
for $535,000. This 2,412 square foot home was built in 1917 on a lot size of 0.14.
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 RECORS, 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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FeaturesGeneralSewer Public Sewer
Heating Central
Cooling Central Air Wall/Window Unit(s)
Utilities Natural Gas Connected Sewer Connected
Roof Shingle
Appliances Electric Water Heater Gas Water Heater Range Refrigerator
Zoning MF22
Garage Spaces 0
Patio/Porch Features Covered Deck Patio Porch Rear Porch
Construction Materials Stucco Wood Frame
Year Built 1917
Levels Multi/Split
Property Subtype Duplex
Tax Year 2025
Ownership Fee Simple
County Polk
New Construction false
Property Type Residential Income
Attached Garage false
Subdivision Name NICHOLS & WARING OR OZONE PARK
Garage Y/N true
Status Active
Directions N. Lake Parker Right on Main Left on Waterloo
City LAKELAND
Senior Community Y/N false
MLS Area 33801 - Lakeland
Lot Size Units Square Feet
Lot Size Square Feet 6098
Carport Spaces 0
Carport Y/N false
Listing Terms Cash Conventional FHA
Land Lease Y/N false
Tax Annual Amount 1468.92
Additional Parcels Y/N false
Lease Considered Y/N true
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Occupancy Type Owner
Tax Lot 002
Legal Description NICHOLS & WARING OR OZONE PARK PB 3 PG 31 BLK 2 LOT 4
Minimum Lease No Minimum
Water Access Y/N false
Additional Rooms Bonus Room
Water View Y/N false
Flood Zone Code X
Flood Zone Code X Y
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InteriorInterior Amenities Ceiling Fan(s)
Flooring Ceramic Tile Hardwood
Furnished Y/N Unfurnished
Air Conditioning Y/N true
Heating Y/N true
Fireplace Y/N false
Laundry Features Inside
Total Bedrooms 0
Total Baths 0
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ExteriorExterior Amenities Outdoor Grill Outdoor Kitchen Sidewalk
Parking Features Parking Pad
Lot Features City Lot
Water Source Public
Lot Size Area 6098
Foundation Details Crawlspace
Number of Buildings 0
Building Area Total 2412
Lot Dimensions 50 x 120
Lot Size Acres 0.14
Road Surface Type Asphalt
Private Pool false
Waterfront Y/N false
Covered Spaces 0
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* Excluded FeaturesList ByTfp Florida Realty LlcBroker
ibamarilyn@gmail.comEmail
Affordability Calculator
- Monthly Principal & Interest
- $3,695
- Monthly Property Taxes
- $122
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Lakeland, FL
Average List Price $434,580
Percent of Sale Price 19%
About Lakeland, FL 108,488 Population
23% Since 2002
$ 42,582 Median Income
39.8 Median Age
22% Households with Children
Trends Information provided by ATTOM Data Solutions.
4827338 Elementary School
4827337 Middle School
Unknown High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 10/21/2026 | $535,000 | | Listed Price |