1300 Mountain lake cutoff rd. Lake Wales, FL 33859 Available

  • $385000
  • 3 beds
  • 3 baths
  • 867 sqft

1300 Mountain lake cutoff rd. Lake Wales, FL 33859

Price: 385K
ARV: 605K

Acerage: 12.7 acres w/ Lake
Est. Repairs: 70-80K
Year Built: 1950
Taxes: 7,019
HOA: None
Ext Construction: block, Stucco
Zoning: Mulit Family under 10 units
7 x 1/1 867sqft apartments
3/2.5 2600sqft SFR
3/2 1515 sqft SFR

Projected Rents = 5500/mo
Gross Rent ROI = 13% (500K)
Current rent= 2600/mo

Apartments
Unit 1 – 450
Unit 2 – Vac
Unit 3 – 600
Unit 4 – Vac
Unit 5 – 500
Unit 6 – 435
3/2 – 640
3/2.5 – Does not pay, handles maintenance for property

CLICK HERE TO VIEW PICTURES AND COMPS
https://drive.google.com/open?id=1m1VIgCwFlG2SYnd6FgDRx6UDnVA_1Jgx

Property Overview:
At roughly 40 per sq ft this is a tough property to pass up. Most multifamily in the area are selling over 50K per door. With proper management this could be a great cash cow for years to come. Property also is located on a small lake and has 12+ acres. Located 15 mintues from legoland.

Property Features:
3 buildings & storage unit. One building has 7 apartments 2 single family homes, concrete driveways, small lake behind building, 12+ acres. Well water and 4 septic tanks as well as roof redone in 2007

Rent Rehab: 70k
All units have specific needs.

Available on 5.27.2020

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Price:
$385000
Address:
1300 Mountain lake cutoff rd.
Lake Wales, Florida 33859
Square Feet:
867
Lot Size:
9.77 acres lot
Bedrooms:
3
Bathrooms:
3
Terms:
Assignment of Contract
Property Type:
Apartment

Additional Features

1300 Mountain Lake Cutoff Rd, Lake Wales, FL 33859 is a multi family home built in 1950. This property was last sold for $285,000 in 2018. According to the Lake Wales public records, the property at 1300 Mountain Lake Cutoff Rd, Lake Wales, FL 33859 has approximately 867 square feet, 3 beds and 1 bath with a lot size of 9.77 acres. Nearby schools include Spook Hill Elementary School, Mclaughlin Middle School And Fine Arts Academy and Winter Haven Senior High School.

Call (954) 280-5883 for more details

Property Location