Sell Your Home
Get a free home valuation
Contact
Tell us about your needs

118 S WATERLOO AVENUE

For Sale
$535,000

BTC: 6.44578313

ETH: 219.98355263

2 days
4 bds
2 ba
2,412 sqft

Overview

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.

Location

Florida • LAKELAND • 33801 • For Sale

Details

Type:
Residential
Parking:
Parking Pad
Year Built:
1917
Lot:
0.14 Acres
Heating:
Central
Price/sqft:
$222
Cooling:
Central Air / Wall/Window Unit(s)
HOA:
No Data

Valuation

Our model vs. what's actually selling nearby.
Estimate
$400,000
$179K – $495K
Confidence Low
List vs. estimate
$135K above estimate
List $535,000 · +33.8%
Our model says this listing is priced above recent comparable activity. Room to negotiate.
Price per sq ft
$221
+15.3% vs. city median $192
Based on
6 MLS comparables
Median of recent comparable listings. Sold comps use closing price, active listings use list price.

Highlights

Annual tax
$1,468
2025
All facts and features
  • Flooring

    • Ceramic Tile

    • Hardwood

    Heating

    • Central

    Cooling

    • Central Air

    • Wall/Window Unit(s)

    Appliances

    • Electric Water Heater

    • Gas Water Heater

    • Range

    • Refrigerator

    Other interior features

    • Ceiling Fan(s)

    Bedrooms and bathrooms

    • Bedrooms: 4

    • Full bathrooms: 2

  • Parking

    • Parking Pad

    Property

    • Levels: Multi/Split

    • Exterior Features: Outdoor Grill / Outdoor Kitchen / Sidewalk

    Lot

    • Lot: 0.14 Acres

    Other Property Information

    • Parcel Number: 182824207000002040

    • Zoning: MF22

  • Type and style

    • Property Type: Residential

    • Property Sub Type: 1/2 Duplex

  • Utility

    • Natural Gas Connected

    • Sewer Connected

  • Other financial information

    • Annual tax amount: $1,469

  • Source details

    • MLS ID: L4965853

    Other facts

    • Construction Materials: Stucco / Wood Frame

    • Foundation Details: Crawlspace

    • Laundry Features: Inside

    • Lot Features: City Lot

    • Patio And Porch Features: Covered / Deck / Patio / Porch / Rear Porch

    • Direction Faces: West

    • Architectural Style: Contemporary

    • Garage: Yes

    • Living Area: 2412

    • Water Source: Public

    • Lot Size Dimensions: 50 x 120

    • Subdivision Name: NICHOLS & WARING OR OZONE PARK

Private inquiry
Talk to the advisor on this listing.
Floor plans, HOA docs, off-market comparables, scheduling a private showing — one message, direct to the local specialist.

More like this

New
For Sale
$379,000
House
4 bds · 2 ba · 1,704 sqft
SHORE ACRES, LAKELAND
807 INTERLACHEN PARKWAY
New
For Sale
$499,000
House
5 bds · 3 ba · 2,312 sqft
LAKE BEULAH HEIGHTS DIV 01, LAKELAND
1044 W LIME STREET
For Sale
$649,000
Commercial
0 room(s) · 2,030 sqft
CLEVELAND HEIGHTS, LAKELAND
2518 S FLORIDA AVENUE
For Sale
$505,000
Multi-family
6 bds · 2,400 sqft
LAKE BEULAH HEIGHTS DIV 02, LAKELAND
1125 OLIVE STREET
-$10K
For Sale
$374,900
House
4 bds · 2 ba · 1,848 sqft
CLEVELAND HEIGHTS MANOR FIRST ADD, LAKELAND
3027 REDWOOD AVENUE
For Sale
$443,665
House
4 bds · 2 ba · 2,227 sqft
GRASSLANDS WEST, LAKELAND
3286 CUP DRIVE
For Sale
$495,000
House
4 bds · 4 ba · 2,226 sqft
LAKESIDE ADD, LAKELAND
841 E VALENCIA STREET
For Sale
$585,000
House
4 bds · 4 ba · 3,216 sqft
EASTON MANOR, LAKELAND
2611 COLLINS AVENUE

Market around this address

Live counts in the same area.
View all

The multiple listing information is provided by the Stellar MLS from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026-present Stellar MLS. All Rights Reserved. The information provided is for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified. Listing courtesy of: TFP FLORIDA REALTY LLC