Lake Wales, FL 33853,335 E CENTRAL AVE
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Lake Wales, FL 33853,335 E CENTRAL AVE
Lake Wales, FL 33853,335 E CENTRAL AVE
Lake Wales, FL 33853,335 E CENTRAL AVE
Lake Wales, FL 33853,335 E CENTRAL AVE

$510,000

Est. payment /mo

$550,000

7.3%
Est.Price: ?

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335 E CENTRAL AVE Lake Wales, FL 33853

7 Beds

5 Baths

3,728 SqFt

SOLD DATE : 11/27/2024

Key Details

Sold Price $510,000

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Sold

Purchase Type For Sale

Square Footage 3,728 sqft

Price per Sqft $136

Subdivision Lake Wales

MLS Listing ID P4931739

Sold Date 11/27/24

Bedrooms 7

Construction Status Appraisal,Financing,Inspections

HOA Y/N No

Originating Board Stellar MLS

Year Built 1923

Annual Tax Amount $3,924

Lot Size 0.410 Acres

Acres 0.41

Lot Dimensions 120x150

Property Description

Investor Alert! Current CAP Rate of 8.5! Great income producing investment property in the heart of Lake Wales currently providing
$ 58,500.00 of annual income with room for increases. 4 rental units on the premises including the main residence that offers a 3 bedroom 2 bath refurbished 1923 craftsman style bungalow. There are two separate free standing buildings at the rear of the property that includes 2 bedrooms & 1 bath, and 1 bedroom and 1 bathroom. There is also an apartment on the back of the main residence which offers a 1 bedroom and 1 bath. All units have separate meters for electric and water. All units other than the main residence have window ac units. This property also includes the adjacent green-space on the property next to the main residence and fronts Central Avenue which has potential to add additional rental units. Location allows quick access to downtown restaurants , grocery stores, schools, and one block to the lake and park to enjoy. Ample parking for all tenants. All units are on annual leases with an opportunity to increase rates to market value. Measurements include all 4 units square footage and are approximate therefore not exact. Don't let this great opportunity pass. By appointment only. Preferred afternoon showings due to night shift of tenants.

Location

State FL

County Polk

Community Lake Wales

Zoning R-2

Rooms

Other Rooms Breakfast Room Separate, Inside Utility

Interior

Interior Features Attic Fan, Cathedral Ceiling(s), Ceiling Fans(s), Crown Molding, High Ceilings, Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Solid Wood Cabinets, Split Bedroom, Thermostat, Vaulted Ceiling(s), Walk-In Closet(s)

Heating Central, Electric, Other

Cooling Central Air, Wall/Window Unit(s)

Flooring Ceramic Tile, Wood

Fireplaces Type Family Room

Furnishings Unfurnished

Fireplace true

Appliance Built-In Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Exhaust Fan, Ice Maker, Microwave, Refrigerator, Washer

Laundry Inside

Exterior

Exterior Feature Sidewalk

Parking Features Assigned, Driveway, Guest

Utilities Available BB/HS Internet Available, Cable Connected, Electricity Connected, Sewer Available, Street Lights, Water - Multiple Meters, Water Connected

Roof Type Metal,Shingle

Porch Covered, Front Porch

Garage false

Private Pool No

Building

Lot Description City Limits, Landscaped, Level, Oversized Lot, Sidewalk, Paved

Entry Level One

Foundation Crawlspace, Slab

Lot Size Range 1/4 to less than 1/2

Sewer Public Sewer

Water Public

Structure Type Cedar,Wood Frame,Wood Siding

New Construction false

Construction Status Appraisal,Financing,Inspections

Schools

Elementary Schools Spook Hill Elem

Middle Schools Mclaughlin Middle

High Schools Lake Wales Senior High

Others

Senior Community No

Ownership Fee Simple

Acceptable Financing Cash, Conventional, FHA

Membership Fee Required None

Listing Terms Cash, Conventional, FHA

Special Listing Condition None

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Stellar MLS
Listed by FLORIDA REALTY INVESTMENTS
Bought with AGILE GROUP REALTY

Joy Pratt-Martin

Agent | License ID: 3415251

+1(386) 631-1299

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