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SELLER FINANCING AVAILABLE. CONTACT LISTING AGENT FOR DETAILS. Lake Josephine Apartments is a 9-unit waterfront multifamily asset sitting directly on the shoreline in Dundee, FL. A rare lakefront offering. The property delivers a 12.79% cash-on-cash return in-place with Year 1 proforma climbing to 13.13%, supported by a balanced unit mix of three studios, three 1BR/1BA, and three 2BR/1BA units across 3,792 SF of concrete block construction on a 1.32-acre lot. In-place rents currently sit below market on multiple units, leaving a clear path to grow returns further without renovation risk. With the landlord covering electric, water, sewer, and trash, operations are simple and tenant turnover is straightforward This property's unique waterfront location enhances its appeal, offering tenants a serene living environment while also providing significant potential for investors looking to capitalize on the property's natural setting and strong rental demand in Dundee. Lake Josephine Apartments combines solid construction, a diverse unit mix, and an unbeatable lakeside location, making it an exceptional investment opportunity in the heart of Polk County. *DISCLAIMER: ONE UNIT IS NON-CONFORMING*
| DAYS ON MARKET | 1 | LAST UPDATED | 6/1/2026 |
|---|---|---|---|
| TRACT | FLA HIGHLANDS CO SUB | YEAR BUILT | 1947 |
| COMMUNITY | 33838 - Dundee | COUNTY | Polk |
| STATUS | Active | PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| AREA | 33838 - Dundee |
| CONSTRUCTION | Concrete, Frame |
| EXTERIOR | None |
| FIREPLACE | Yes |
| HEAT | Electric |
| LOT | 1.32 acre(s) |
| LOT DESCRIPTION | Waterfront |
| LOT DIMENSIONS | 150x220 |
| SEWER | Septic Needed |
| SUBDIVISION | FLA HIGHLANDS CO SUB |
| TAXES | 14861.24 |
| UTILITIES | Electricity Connected, Water Connected |
| VIEW | Yes |
| VIEW DESCRIPTION | Lake, Water |
| WATER | Public |
| WATERFRONT | Yes |
| WATERFRONT DESCRIPTION | Lake Privileges, Lake Front |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by Tito Urbano Perez, 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 6/1/26 3:42 PM PDT.
This IDX solution is (c) Diverse Solutions 2026.