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Under contract-accepting backup offers. Investor Alert! Current CAP Rate of 8.5! Great income producing investment property in the heart of Lake Wales currently providing $ 58,500.00 of annual income with room for increases. 4 rental units on the premises including the main residence that offers a 3 bedroom 2 bath refurbished 1923 craftsman style bungalow. There are two separate free standing buildings at the rear of the property that includes 2 bedrooms & 1 bath, and 1 bedroom and 1 bathroom. There is also an apartment on the back of the main residence which offers a 1 bedroom and 1 bath. All units have separate meters for electric and water. All units other than the main residence have window ac units. This property also includes the adjacent green-space on the property next to the main residence and fronts Central Avenue which has potential to add additional rental units. Location allows quick access to downtown restaurants , grocery stores, schools, and one block to the lake and park to enjoy. Ample parking for all tenants. All units are on annual leases with an opportunity to increase rates to market value. Measurements include all 4 units square footage and are approximate therefore not exact. Don't let this great opportunity pass. By appointment only. Preferred afternoon showings due to night shift of tenants.
| DAYS ON MARKET | 89 | LAST UPDATED | 10/29/2024 |
|---|---|---|---|
| TRACT | LAKE WALES | YEAR BUILT | 1923 |
| COMMUNITY | 33853 - Lake Wales South | COUNTY | Polk |
| STATUS | Pending | PROPERTY TYPE(S) | Multi Family |
| Elementary School | Spook Hill Elem |
|---|---|
| Jr. High School | Mclaughlin Middle |
| High School | Lake Wales Senior High |
| ADDITIONAL DETAILS | |
| AIR | Central Air, Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Exhaust Fan, Ice Maker, Microwave, Refrigerator, Washer |
| AREA | 33853 - Lake Wales South |
| BASEMENT | Crawl Space |
| CONSTRUCTION | Cedar, Wood Siding |
| FIREPLACE | Yes |
| HEAT | Central, Electric, Other |
| INTERIOR | Cathedral Ceiling(s), Crown Molding, High Ceilings, Open Floorplan, Vaulted Ceiling(s), Walk-In Closet(s) |
| LOT | 0.41 acre(s) |
| LOT DESCRIPTION | Landscaped, Level, Paved |
| LOT DIMENSIONS | 120x150 |
| PARKING | Assigned, Driveway, Guest |
| SEWER | Public Sewer |
| STORIES | 1 |
| SUBDIVISION | LAKE WALES |
| TAXES | 3924.64 |
| UTILITIES | Cable Available, Cable Connected, Electricity Connected, Sewer Available, Water Connected |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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*Estimate only
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Listing provided by Shawn Tingle, FLORIDA REALTY INVESTMENTS, 407-207-2220
The information contained herein has been provided by My Florida Regional MLS DBA Stellar MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Listings last updated 11/22/24 11:45 PM PST.
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