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9035 Temple Drive, Lake Wales, FL 33898

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For Sale

$254,000

3 beds • 2 baths • 2 half baths • 1,652 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Single Family Detached
    Property type

  • Newly Listed
    Time on Century 21

  • $153.75
    Price per square foot

  • 31-40 Years Old
    Age

Explore this Property

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!
MLS# P4937133

Courtesy Of LPT Realty, LLC.

(877) 366-2213

Property Features

  • Age
    31-40 Years Old
  • Appliances
    Microwave, Range, Refrigerator
  • Architecture Style
    Other
  • Exterior Type
    Concrete
  • Floor Covering
    Wood
  • Lot Size
    0.54 Acres
  • Roof Type
    Metal
  • Rooms
    Dining Room, Kitchen, Living Room

Map and Directions

Directions to 9035 Temple Drive, Lake Wales, FL 33898

Home seller CENTURY 21 Watson & Myers Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Watson & Myers Realty

(863) 324-1000
Learn More About Us

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.