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335 E Central Avenue

Lake Wales, FL 33853

7 beds
5 baths
3,728 sqft
~1/2 acre lot
$136 per sqft
1923 build
– on site

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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.

Listing courtesy of STELLAR_MLS / FLORIDA REALTY INVESTMENTS

Last checked: Checking… • Last updated Nov 28, 2024 •

MLS# P4931739 —

The Building

Year Built:

1923
New Construction:

false
Construction Materials:

Cedar
Levels:

One
Roof:

Metal
Foundation Details:

Crawlspace
Window Features:

Aluminum Frames
Patio And Porch Features:

Covered
# of Buildings:

3
Building Area Total:

4000
Building Area Units:

Square Feet
Building Area Source:

Public Records

Interior

Interior Features:

Attic Fan
Furnished:

Unfurnished
Flooring:

Ceramic Tile
Additional Rooms:

Breakfast Room Separate
Fireplace:

true
Fireplace Features:

Family Room

Room Dimensions

Living Area:

3728
Living Area Units:

Square Feet
Living Area Source:

Public Records

Location

Directions:

From Highway 27 in Lake Wales. Turn East onto Central Avenue. Travel approximately 3 miles through downtown Lake Wales. The property will be located on the Northside of Central Avenue East. Real Estate in front of the residence.
Latitude:

27.90156
Longitude:

-81.58391
Coordinates:

-81.58391, 27.90156

The Property

Parcel Number:

273001883000033180
Property Type:

Residential Income
Property Subtype:

Quadruplex
Property Condition:

Completed
Property Attached:

false
Lot Features:

City Lot
Lot Size Acres:

0.41
Lot Size Area:

17977
Lot Size SqFt:

17977
Lot Size Dimensions:

120 x 150
Lot Size Units:

Square Feet
Total Acres:

1/4 to less than 1/2
Zoning:

R-2
View:

false
Exterior Features:

Sidewalk
Water Source:

Public
Road Responsibility:

Public Maintained Road
Road Surface Type:

Paved
Road Frontage Type:

Street Paved
Flood Zone Code:

no
Additional Parcels:

false
Homestead:

false
Land Lease:

false

Listing Agent

Contact info:

Taxes

Tax Year:

2023
Tax Lot:

18
Tax Block:

33
Tax Legal Description:

LAKE WALES PB 1 PG 88A 88B S1&2 T30 R27 BLK 33 LOTS 18 & 19
Tax Book Number:

1-88A
Tax Annual Amount:

3924.64

Beds

Bedrooms Total:

7

Baths

Total Baths:

5

The Listing

Special Listing Conditions:

None

Heating & Cooling

Heating:

Central
Heating:

true
Cooling:

Central Air
Cooling:

true

Utilities

Utilities:

BB/HS Internet Available
Sewer:

Public Sewer

Appliances

Appliances:

Built-In Oven
Laundry Features:

Inside

Schools

Elementary School:

Spook Hill Elem
Middle Or Junior School:

Mclaughlin Middle
High School:

Lake Wales Senior High

The Community

Subdivision Name:

LAKE WALES
Senior Community:

false
Waterview:

false
Water Access:

false
Waterfront:

false
Pool Private:

false
Association:

false
Association Fee Requirement:

None
Ownership:

Fee Simple

Parking

Garage:

false
Carport:

false
Open Parking:

true
Parking Features:

Assigned

Extra Units

# of Units Total:

4

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Max Internet Speed

Frontier

Provided by BroadbandNow®

Sale history

Date	Event	Source	Price	% Change
11/27/24 Nov 27, 2024	Sold	STELLAR_MLS	$510,000	-7.3%
10/29/24 Oct 29, 2024	Pending	STELLAR_MLS	$550,000
8/26/24 Aug 26, 2024	Listed / Active	STELLAR_MLS	$550,000	254.8% (13.4% / YR)

Multifamily Sold on 11/27/2024

$510,000

Listing provided by broker:

Shawn Tingle

FLORIDA REALTY INVESTMENTS

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Listing Courtesy of: STELLAR_MLS and FLORIDA REALTY INVESTMENTS.

Based on information from the My Florida Regional MLS DBA Stellar MLS 2025.

All information provided is deemed reliable but is not guaranteed and should be independently verified. Stellar MLS, Estately and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. Stellar MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. For any questions please call (407) 499-8911.

335 E Central Avenue

Lake Wales, FL 33853