Contact Lorain National Bank for all of your real estate needs
(440) 244-7126

Address withheld, LAKE WALES, FL 33853

  • $875,000

Listing Presented By

Patty Clemons
Associate Realty & Investment
(863) 618-4000

Commercial - LAKE WALES, FL

LOCATION! LOCATION! TWO WATERFRONT PARCELS ON LAKE MABEL VERY WELL KEPT. HAS EXCELLENT INCOME. MONTHLY RENTS HAVE BEEN INCREASED BUT IS STILL CONSIDERED LOW. INCOME NOW IS CURRENTLY 12,300. A MONTH/ YEARLY INCOME OVER 147,000. SHOWS A 9% CAP RATE PLUS ANOTHER 400-600 FROM LAUNDRY ROOM. 2016 INCOME WAS 138,300. P & L IS ATTACHED (LOWER RENTS LAST YEAR DUE TO OWNER IN ONE OF THE UNITS). ALWAYS FULL VERY LOW VACANCIES RATIO. PLENTY OF LAND TO POSSIBILITY EXPAND MORE INCOME (ZONING FOR ADDITION PARCEL IS CURRENTLY RESIDENTIAL) NICE QUIET AND EXCELLENT REPUTATION. SOME TENANTS HAVE LIVED THERE FOR SEVERAL YEARS. THREE STORAGE SHEDS. LOCATED APPROXIMATELY 45 MINUTES FROM DISNEY WORLD, 15 MINUTES FROM LEGOLAND, SURVEY IS AVAILABLE. THERE IS AN ADDITIONAL 2 ACRE ADJACENT PARCEL 27-29-11-000000-044030 THAT IS INCLUDED IN THE SALE. THERE IS AN OLD FRAME BUILDING THAT IS USED FOR STORAGE. INTERIOR OF ALL UNITS SHOW EXTREMELY WELL. DO NOTAPPROACH THE TENANTS. A TOTAL OF 7 ACRES +/- ELECTRIC, WATER AND CABLE IS INCLUDED. PROPERTY CONSIST OF 7 CONCRETE ONE BEDROOM COTTAGES, 1 TWO BEDROOM PARK MODEL, 2 MOBILE HOMES CONVERTED IN DUPLEXES MAKING 4 UNITS, 2 RV'S, 1 FRAME HOUSE MAKES UP 4 UNITS. ROOM TO POSSIBLE EXPANSION. 18 TOTAL UNIT CURRENTLY. PRICE INCLUDES BOTH PARCELS 27 29 11 000000 044010 AND 27 29 11 000000 044010 PROFIT AND LOSS FOR 2016 IS ATTACHED TO THIS LISTING. ON SITE MANAGER IS WILLING TO STAY.

  • $875,000
  • Commercial
  • Last Updated: March 24, 2017
  • Posted: June 24, 2016

LAKE WALES, FL 33853

LAKE WALES, FL 33853 is an , Commercial in Lake Wales, Florida for $875,000 with and offered by Patty Clemons of Associate Realty & Investment. To learn more about LAKE WALES, FL 33853 contact Patty Clemons for more information or to request a showing.