Half Duplex at 118 S WATERLOO AVE, LAKELAND
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First unit bonus room - 118 S WATERLOO AVE, LAKELAND
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Second unit kitchen - 118 S WATERLOO AVE, LAKELAND
Second unit Primary room - 118 S WATERLOO AVE, LAKELAND
Second unit bathroom - 118 S WATERLOO AVE, LAKELAND
2nd unit living room - 118 S WATERLOO AVE, LAKELAND
2nd unit multipurpose room - 118 S WATERLOO AVE, LAKELAND
31 photos

$535,000

118 S WATERLOO AVE
LAKELAND, FL 33801
Listed by Marilyn Davis · TFP FLORIDA REALTY LLC
Bedrooms
4
Bathrooms
2
Living area
2,412 sqft
Year built
1917

About this home

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.

Property details

MLS
Stellar MLS
MLS #
MFRL4965853
Property type
Half Duplex
Subdivision
NICHOLS & WARING OR OZONE PARK
Status
Active
Days on market
N/A
On market date
October 17, 2026
Stories
N/A
Total bathrooms
2
Garage spaces
N/A
Parking spaces
N/A
Lot size
0.14 acres
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Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.

ElementaryCharter
LAKELAND MONTESSORI SCHOOL HOUSE
0.42 mi away · Grades 0-6
Nearest school -- attendance-zone data not available here
3.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
115
Student:teacher ratio
16.4:1
District
POLK
MiddleCharter
LAKELAND MONTESSORI MIDDLE SCHOOL
0.42 mi away · Grades 6-8
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
25
Student:teacher ratio
8.3:1
District
POLK
High
PACE CENTER FOR GIRLS
0.51 mi away · Grades 6-12
Nearest school -- attendance-zone data not available here
5.0
Local Score (student-teacher ratio only (preliminary -- will incorporate state test-score data once available)) -- not an official state rating
Enrollment
58
Student:teacher ratio
11.6:1
District
POLK

Walkability

Blended score for LAKELAND's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

86
Highly walkable
out of 100
EPA National Walkability Index
16.0 / 20 -- Most walkable
Google Places amenity density
95 / 100
Restaurants & cafes20
Grocery stores7
Parks20
Schools20
Transit stops20
Pharmacies1

Market position

How this listing compares to current activity in LAKELAND, from live MLS data.

On the market 0 days -- 81 fewer days than LAKELAND's current average of 81 days.
For reference, the median list price across 1,818 active listings in LAKELAND right now is $309,900.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$3,372/mo
$107,000 down
$428,000 loan
Principal & interest$2,776
Property tax (est.)$446
Home insurance (est.)$150

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Data source: Listing information provided by Stellar MLS (mfrmls) via Trestle/CoreLogic. Last updated 15 hr ago.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.