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Historic Multifamily Building

$599,000

428 E Johnson Ave, Lake Wales, FL 33853

Active
Last Updated: 04/03/2025

4,408 sqft

Building Size

0.52 acres

Lot Area

Details:
Building Size:    4,408 sqft
Lot Area:    0.52 acres
Class:    C
Units:    6
Year Built:    1928
Floors:    2
Highlights:
  • Value-Add Potential! Historic multifamily investment property
  • Six spacious 1-bedroom / 1-bathroom units totaling 4,408 SF total SF
  • Constructed in 1928 with preserved architectural details and historic charm
  • Recent renovations started, offering value-add potential!
  • Situated on lush 0.52 acre parcel zoned R-1B
  • Located in a vibrant community with diverse demographics​
  • Strong demand for well-maintained Multifamily Rentals in the area
  • Close to Historic Downtown District shopping, dining, cultural attractions
  • Nearby many local amenities, parks, schools, and recreational facilities
  • Ideal for investors seeking value-add opportunities
Description:

Lee & Associates presents an exceptional investment opportunity at 428 E Johnson Ave, Lake Wales, FL 33853. This historic two-story multifamily property, constructed in 1928, spans 4,408 square feet and is situated on a generous 0.52-acre lot. The building comprises six units, each featuring one bedroom and one bathroom, offering a total of six bedrooms and six bathrooms. Recent renovations have been initiated, providing a solid foundation for further enhancements to maximize rental income potential. ​

Located in the heart of Lake Wales, this property benefits from its proximity to local amenities and attractions. The area boasts a diverse demographic, with a population of approximately 16,455 residents and a median age of 43.1 years. The community offers a blend of cultural and recreational activities, making it an attractive location for potential tenants.

Nestled in Lake Wales, Florida, this property offers residents access to a community rich in history and culture. With a population of approximately 16,455 and a median age of 43.1, Lake Wales provides a welcoming environment for a diverse tenant base. The area features a variety of local amenities, including shopping centers, parks, and recreational facilities, enhancing the appeal of this investment opportunity.

Map:
Documents:
Title
Lee_SFL_OM_-_Historic_Lake_Wales_Multifamily.pdf
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