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$515,000
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Property Description
Discover the perfect opportunity to live, invest, or generate rental income with this unique property featuring two beautifully remodeled homes and a 29' x 22' detached concrete block storage building on one lot. Whether you choose to live in one home and rent the other, or maximize your returns by leasing both, this property offers incredible flexibility. The larger residence features 4 bedrooms, 2 bathrooms, and 1,679 square feet of living space. Inside, you'll find a spacious living room, separate family room, inside laundry, and a stunning new kitchen complete with new cabinetry, countertops, and appliances. Luxury vinyl plank flooring flows throughout the home, complemented by fresh interior paint and new ceiling fans. The second home offers 2 bedrooms, 1 bathroom, and includes a single-car garage with an adjoining storage/laundry room featuring washer and dryer hookups. Like the main home, it has been completely remodeled with luxury vinyl plank flooring, fresh paint, new ceiling fans, and a beautifully updated kitchen with new cabinets, countertops, and appliances. Adding even more value is the detached 29' x 22' concrete block storage building, complete with electricity and a half bath-ideal for a workshop, hobby space, business storage, or additional flex space. Conveniently located in the heart of Lakeland, this property is just a short walk to both Lake Hollingsworth and Lake Morton, offering easy access to scenic walking trails, parks, and all the charm of central Lakeland. Don't miss this rare opportunity to own a move-in-ready, income-producing property in one of Lakeland's most desirable locations!
Full Property Details
Full Property Details for 542 & 540 S Clayton Ave
General
- Price: $515,000
- Taxes: $3,319 (2025)
- Status: Active
- Type: Duplex
- Source: MidFloridaRegionalMLS
- MLS ID: L4963551
- Updated: 8/10/2026
- Added to Site: 42 day(s) ago
Interior
- Interior Features: Ceiling Fan(s), Eating Space In Kitchen, Window Treatments
- Appliances: Electric Water Heater, Microwave, Range, Refrigerator
- Flooring: Luxury Vinyl
Rooms
Bathrooms
- Total Bathrooms: 3
Bedrooms
- Total Bedrooms: 6
Other Rooms
- Laundry: In Garage, Laundry Room
Exterior
- Exterior Features: Outbuilding
Parking
- Garage: Yes
- Attached garage: Yes
- Garage Spaces: 1
- Covered Spaces: 1
Location
- Area: 33801 - Lakeland
- County: Polk
- Development Name: 33801 - Lakeland
- Subdivision: BILTMORE PARK SUB
- Driving Directions: Use GPS
Community
- Community Name: 33801 - Lakeland
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Electric
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Cable Connected, Electricity Connected
Structural Information
- # Buildings: 3
- Exterior Const.: Block
- Roof: Shingle
- Square Feet: 2,529
- Sq. Ft. Source: Owner
- Year Built: 1953
Lot Features
- Lot Size (Acres): 0.29
- Lot Size (Sq. Ft.): 12,528
- Lot Size: 12528
- Lot Dimensions: 48.6 x 61
- Street/Road Desc.: Asphalt
Financial Considerations
- Tax Amount: $3,319.35
- Tax Year: 2025
Disclosures and Reports
- Ownership: Fee Simple
- Special Conditions: None
- Legal Description: BILTMORE PARK SUB PB 8 PG 41 BLK 3 LOT 1 LESS RD R/W & LOT 14
- Flood Zone Info: X
- APN: 242819218000003010
- Property ID: 242819218000003010
- Block/Lot/Section: 3
Listed by Regal Real Estate Llc
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Schools
Schools serving 542 & 540 S Clayton Ave
School District:Polk County School District
| Name | Grades | Distance |
|---|---|---|
Philip O'brien Elementary School 1225 East Lime Street, Lakeland, FL 33801 | PK-5 | 0.1 mi |
Sleepy Hill Middle School 2215 Sleepy Hill Road, Lakeland, FL 33810 | 6-8 | 4.9 mi |
Lakeland Senior High School 726 Hollingsworth Road, Lakeland, FL 33801 | 9-12 | 0.4 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 542 & 540 S Clayton Ave
Date
Details
Price
Change
Source
8/10/2026
Price Reduced
$515,000
-1.9%
MLS
7/15/2026
Listed
$525,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 542 & 540 S Clayton Ave
542 & 540 S Clayton Avenue, Lakeland, FL 33801 (MLS# L4963551) is a Duplex property with 6 bedrooms and 0 full bathrooms. 542 & 540 S Clayton Avenue is currently listed for $515,000 and was received on July 15, 2026. Want to learn more about 542 & 540 S Clayton Avenue? Do you have questions about finding other Duplex real estate for sale in Lakeland? You can browse all Lakeland real estate or contact a Coldwell Banker agent to request more information.

