Waterfront
Address
Not Disclosed Lake Wales, FL
Price
$ 1,400,000
Property Attributes
  • MLS#T3295455
  • TypeIncome
  • CountyPOLK
  • CityLake Wales
  • AreaLake Wales South
  • Zip33853
  • StyleMulti-Family
  • Year Built1969
  • Taxes$ 5643
  • Price$ 1,400,000
  • Bedrooms17
  • Full Bathrooms16
  • Half Bathrooms0
  • Sqr Footage5972
  • Lot Size7.94 Acres
Listing Provided Courtesy Of:
BALCORP REALTY, LLC
Data Source:
Stellar MLS
Property Description

Incredible income producing property located on two waterfront parcels. 18 Total Units on seven acres, producing great income each month and year! Rents are low for the area enabling the prospect of rent increases after year one! The vacancy rate is very low and historically, there have been no problems finding new tenants, quickly, once a vacancy occurs. Listing includes the adjacent two-acre parcel (Parcel Number: 27-29-11-000000-044030) that can potentially be developed to further expand income prospects! Included are seven concrete one-bedroom cottages, a two-bedroom park model mobile home, two mobile homes converted into duplexes enabling four rental units, two RV'S and one frame house divided into four units. Property is self-sufficient for water, containing wells, pumping stations and septic systems. Located on scenic Lake Mabel and is less than an hour from the Greater Orlando area! This property will make a great addition to any investor portfolio and absolutely will not last long!

Price History
3/13/2021 Listed $1,400,000

General Features

Additional Parcels Y/N Yes
Construction Materials Block, Other
Cooling Central Air, Wall/Window Unit(s)
Exterior Features Other
Flooring Carpet, Tile, Vinyl
Heating Electric, Wall Units / Window Unit
Lease Term 24 Months
MLS Area 33853 - Lake Wales South
Other Structures Storage
Property SubType Multi-Family
Property Type Residential Income
Roof Metal
Security Features Fire Alarm, Security Lights
Sewer Private Sewer
Special Listing Conditions None
Status Active
Total Num Buildings 18
Total Units 18
Township 29
Utilities Cable Available, Electricity Connected, Natural Gas Connected
View Water
Water Access Type Lake
Water Access Y/N Yes
Waterfront Features Lake
Year Built 1969
Zoning C-3

Interior Features

Living Area 5972.00
Unit Count 5

Exterior Features

Building Area Total 8012.00
Foundation Details Slab, Stilt/On Piling
Lot Size Acres 7.94
Lot Size Square Feet 427384
Number of Lots 2
Water Extras Dock - Wood
Water Extras Yn Yes
Water Frontage Feet Lake 380
Water View Lake
Water View Y/N Yes
Waterfront Feet Total 380
Waterfront Y/N Yes

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 33853

Price
AVG $610K
$1.4M
Taxes
AVG $3,251
$5,643
Visits
AVG 119
214
Year Built
AVG 1968
1969