UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 4,466 sqft
Price per Sqft $184
Subdivision Lake Wales
MLS Listing ID L4957773
Bedrooms 12
HOA Y/N No
Year Built 1920
Annual Tax Amount $3,028
Lot Size 0.260 Acres
Acres 0.26
Property Sub-Type Multi Family
Source Stellar MLS
Property Description
An outstanding investment opportunity just got even better in the heart of Lake Wales. The seller has lowered the price by $25,000, creating a compelling value for investors seeking strong cash flow and long-term upside.
This 7-unit multifamily property offers solid rental income, strong occupancy, and multiple recent upgrades—making it a true turnkey addition to any portfolio. The unit mix includes five 2-bed/1-bath units and two 1-bed/1-bath units, a proven combination for stable, long-term tenancy.
Major improvements have already been completed, including new roofs and some newer A/C systems, helping reduce future capital expenses and enhance operational efficiency.
A standout feature is the large onsite storage area, presenting excellent value-add or expansion potential. Whether converted into income-producing storage units or reconfigured for future improvements, this space offers flexibility and upside.
Ideally located near schools, shopping, dining, and major roadways, the property benefits from strong tenant demand and consistent occupancy.
Investor Highlights
• Price reduced $25,000
• 7 units (5× 2/1 + 2× 1/1)
• New roofs & newer A/C systems
• Strong existing cash flow
• High occupancy history
• Expansion or storage income potential
• Central Lake Wales location
With pricing improved and upside still intact, this is a rare opportunity to acquire a stabilized multifamily asset with room to grow. Bring your offers—this one is ready to move.
Location
State FL
County Polk
Community Lake Wales
Area 33853 - Lake Wales South
Zoning R-2
Interior
Interior Features Ceiling Fans(s), Solid Surface Counters, Solid Wood Cabinets
Heating Electric
Cooling Central Air
Fireplace false
Laundry None
Exterior
Exterior Feature None, Storage
Utilities Available Cable Connected, Electricity Connected, Phone Available
Roof Type Membrane,Shingle
Garage false
Private Pool No
Building
Entry Level Two
Foundation Slab
Lot Size Range 1/4 to less than 1/2
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding,Frame
New Construction false
Others
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
Virtual Tour https://www.propertypanorama.com/instaview/stellar/L4957773
