WIndian Lake Heights Sub

Highlights:

• Lot Features: 1/2 To Less Than 3/4 Acre Lot
• Documents Available: None
• Architectural Style: Detached
• Cooling: Wall/Window Unit(s)
• Heating: Window/Wall
• Flooring: Wood
• Construction Materials: Concrete Block Construction

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. 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. Call to schedule an appointment. SELLER WILL CONSIDER SELLER
FINANCE ALSO!

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Listing ID: A11919610