Lake Wales

Pending-F St, Lake Wales FL 33853

Beds: 24    Bath: 16    SqFt: 7,812

Repairs: Heavy   Rent: See Below

$150,000cc Assignable

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This is one of those deals that comes along and make you stop in your tracks immediately! This property is a 7,800 sf 8 plex that has 3 beds and 2 baths in each unit. The property is in need of a complete renovation. Some work has been started: new windows, some electrical work and some plumbing work. You are going to need a new roof and the entire interior needs to be completed. The largest issue is the city is requiring 2 parking spots for each unit, so you have to find room to do that. We are currently working with the neighbor who owns the vacant lot next door, to see if they would be willing to sell that to us as well. That would be the easiest solution to that particular issue. Originally, the property was set up at 16 1/1’s, which would be an option as well. A 1/1 would rent for right around $595/mo. A 3/2 should get you between $900 and $1,000 per month. Whichever way you slice it, and even with a huge renovation that’s needed, you are looking at a massive ROI.

PENDING – Mountain Lake Cutoff Rd., Lake Whales FL 33859

Bed: 14    Bath: 11    SqFt: 6000

ARV: $599k     Repairs: $80k     Rent: $5500/mo

$450,000+cc

Awesome opportunity right near Legoland!   This property consists of seven 1 bedroom 1 bath Apartments with 867sqft each, one 4 Bedroom 2 Bath Home, and one 3 Bedroom 2 Bath Home that sits on 9.7 acres.

Current Rental Income: $2000 Monthly
6 Units Occupied. 3 Units Vacant.
Projected Rental Income: $5500 Monthly
Utilities: Well Water & 3 Septic tanks Roof Redone in 2007
Location: Polk County 15 Minutes from Legoland

 

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