813-777-5230
21380 Hwy 27, Lake Wales, FL for Sale
Apartments - FOR SALE
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21380 Hwy 27
Lake Wales, FL 33859


HIGHLIGHTS

  • Nearly $2M in Recent CapEx Upgrades completed in 2022-2023
  • Large 8.8-Acre Site - entitlements already in-place for mixed-use development
  • Strong Amenity Package with space to add more
  • Strong Going In Cash Flow: 7.15% going in cap rate
  • Strong Operating Performance: Achieving 95% trailing
  • On-Site Commercial Spaces: Three spaces available – one currently leased

OVERVIEW

56-unit concrete block community with three commercial suites located in Lake Wales, Florida - Lakeland-Winter Haven MSA. Situated on 8.84 acres, the property underwent a comprehensive renovation in 2022–2023 totaling nearly $2 million in capital improvements. Upgrades include full interior renovations, new roofs, new HVAC and electrical systems, and all new plumbing. Community amenities include a private lake and dock access, a swimming pool, on-site laundry, two dog parks, and a tennis court. The property also features substantial vacant land with existing mixed-use entitlements, providing flexibility for future phases, additional units, or enhanced amenity offerings.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

56

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

La Provence Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

-

LAND DETAILS

LAND ACRES

8.84 AC

LAND SF

385,070 SF

ZONING

700R3

APN/PARCEL ID

27-29-27-000000-044050

ASK ABOUT THIS PROPERTY

813-777-5230

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813-777-5230

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