Listing Courtesy of: Shawn Tingle - FLORIDA REALTY INVESTMENTS
407-207-2220
$550,000
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335 E Central Avenue Lake Wales, FL 33853
Fourplex
Residence
7
Beds
5
Baths
4,000
Sq. Ft.
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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.
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MLS#
P4931739
Property Type
Fourplex
Bedrooms
7
Bathrooms
Year Built
1923
Square Feet
4,000
sq. ft
Stories
1.0
Sewer
Public Sewer
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