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$254,600
Est. payment /mo
4 Beds
2 Baths
1,831 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,831 sqft
Price per Sqft $139
MLS Listing ID 11607646
Bedrooms 4
Full Baths 2
Year Built 1938
Lot Size 10,197 Sqft
Property Description
This lakefront multi-family property in the heart of Lake Wales presents a rare opportunity for both savvy investors and future owner-occupants alike. Delivering an impressive about 8% cap rate with an all-cash purchase-and closer to a 9% cap with just 20% down at today's prevailing rates-this is a strong income-producing asset with immediate upside. Even more compelling, for those looking to live in one unit, the numbers make ownership more affordable than renting, while the second unit helps offset your mortgage. The property offers two well-designed 2-bedroom, 1-bath units with open-concept living, generous outdoor space, and desirable lakefront appeal with no HOA. While a new roof is needed, the seller is offering a $10,000 concession with a full-price offer, giving buyers a valuable head start on improvements. Whether you're expanding your portfolio or looking for a smart live-and-rent strategy, this property blends cash flow, lifestyle, and long-term value in one compelling package.
Location
State FL
County 12105
Rooms
Family Room 1
Dining Room 0
Kitchen Galley
Building
Story 1
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