520 S Main Avenue, Lake Placid, FL 33852
HOFFMANS GROVE · Highlands County
Key Facts
Description
5 Units! 6.7-7.5% CapRate. See attached Offering Memorandum for Income/Expenses. 100% Occupied. Prime Multifamily Investment! Well-maintained 5-unit property located in the heart of Lake Placid. This income-producing asset features a strong unit mix: one 3-bedroom/1-bath unit, two 2-bedroom/1-bath units, and two 1-bedroom/1-bath units—appealing to a wide range of tenants. Property is easy to manage, tenants pay rent & send maintenance requests online, creating a streamlined, low-touch operation. Currently self-managed by owner & running efficiently. Fresh painted exterior. Building is topped w/ durable metal roof & use of window A/C units helps keep maintenance simple & cost-effective. Rents adjusted at renewal,built-in upside for future income growth. See OM & Income/Expenses attached.
Property Information
Property Type
Residential Income
Sub-Type
Quadruplex
Structure Type
Multi Family
Year Built
1982
Stories
1
Living Area
2,572 sq ft
Parking Spaces
10
Zoning
C2
Days on Market
77
MLS® Listing#
B26021355
Property Features
Exterior
Cooling
Heating
Flooring
Laundry
Construction
Roof
Utilities
Sewer
Water Source
Financial Details
HOA
None
Annual Taxes
$5,611
Tax year 2025
Parcel Number
P06373004002300170
Affordability Calculator
$151,000
Estimated monthly payment
$4,018/mo
Principal $604,000 · Est. interest $842,634 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Lake Placid, FL
- $340,417
- Median Listing Price
- 81
- Median Days on Market
- 1,620
- Median Sq Ft
- $202
- Median Price / Sq Ft
- 2,456
- Active Listings
- This home’s price is 122% above the area median.
- Its price per sq ft is 45% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Lake Placid, FL.
Location
Points of Interest in Lake Placid, FL
Showing the Lake Placid area map.
Nearby Schools
Lake Placid Elementary School
Elementary · 0.4 mi away
Lake Placid High School
Secondary · 0.5 mi away
Lake Placid Middle School
Secondary · 0.6 mi away
Lake Placid Montessori Academy
Elementary · 0.7 mi away
Lakeview Christian School
School · 0.9 mi away
Lake Country Elementary School
Elementary · 2.8 mi away
Cracker Trail Elementary School
Elementary · 10.4 mi away
My School An Academy of Early Lrng
School · 12.6 mi away
The Academy at Youth Care Lane
School · 13.4 mi away
Fred Wild Elementary School
Elementary · 13.7 mi away
Heartland Christian School
Secondary · 13.9 mi away
Highlands University Prep School
School · 13.9 mi away
Busy Kids Creative Learning Center
School · 14.1 mi away
Kenilworth School
School · 14.1 mi away
Sebring High School
Secondary · 14.1 mi away
St Catherine Catholic School
School · 14.4 mi away
Sebring Middle School
Secondary · 14.9 mi away
Woodlawn Elementary School
Elementary · 15.7 mi away
Hill Gustat Middle School
Secondary · 18.0 mi away
Sun 'n Lake Elementary School
Elementary · 19.3 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 219 SW FANTASY GLN, Lake City, FL | $529,900 | 4 | — | 2,138 |
| 4004 SABLE LOOP DRIVE, LAKE WALES, FL | $529,900 | 4 | 3 | 2,937 |
| 927 S Palmway, Lake Worth Beach, FL | $530,000 | 1 | 1 | 686 |
| 811 STATE ROAD 60 E, LAKE WALES, FL | $530,000 | — | — | 3,436 |
| 5160 Lake Osborne Drive, Lake Worth, FL | $530,000 | 3 | 2 | 1,480 |
| 811 STATE ROAD 60 E, LAKE WALES, FL | $530,000 | 4 | 5 | 3,436 |
Moving Cost Estimate
EXIT Agents in Lake Placid
Listing Courtesy: Transworld Realty Services Inc - 9547182121
The listing broker's offer of compensation is made to participants of BeachesMLS, where the listing is filed, as well as participants of MLSs participating in MLSAdvantage or a data share with BeachesMLS.