Full Description
Nearly A 10% CAP RATE! Canal Front Multifamily Property Consisting Of 2 Single Wide Mobile Homes and 1 CBC Apartment
Offering LOW OPERATING EXPENSES And VALUE-ADD OPPORTUNITY Located Just 3 Blocks From Lake Walk In Water’s
Public Boat Ramp In Eastern Lake Wales, Florida. Current Income: $2,075/Month and $24,900/Year Potential Gross
Income: $2,675/Month and $32,100.00/Year The 3 residences sit on a well kept, 0.54 acre lot zoned R-3 with 198+-ft of
canal frontage with direct access to Lake Walk-In Water. Unit A (OCCUPIED): 2BR/1BA, 1978, 728 sqft single wide mobile
home at $900/month. Unit B (VACANT- VALUE-ADD): 1BR/1BA 1975 , 485 sq ft concrete block apartment featuring a
kitchenette and its own private dock. The vacant unit allows for new owner to place a tenant for immediate income or
possible renovations and upgrades for increased rent. Previously rented for $600/month. Unit C (OCCUPIED): Updated and
spacious 1989, 924 sq ft 3BR/2BA single wide mobile home generating $1,175/month. This unit features a mini-split AC, a
large master bedroom with a walk-in closet and a built-in office. Tenant’s rent includes electric, utilities, trash and septic.
Landlord pays taxes and insurance. This stabilized multifamily property offers investors an exceptional cap rate, low
operational expenses, canal frontage with direct access to Lake Walk-In-Water, value appreciation and value-add
opportunity with a new tenant for immediate income and renovation potential for increase rent. Investments like these
don’t come around that often in Polk County, Florida. Call to schedule an appointment. SELLER WILL CONSIDER SELLER
FINANCE ALSO!
Read more