428 E Johnson Ave - Apartments FOR SALE


Lake Wales, FL 33853
$599,000 USD
305-484-4666
428 E Johnson Ave, Lake Wales, FL for Sale
$599,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

428 E Johnson Ave
Lake Wales, FL 33853


HIGHLIGHTS

  • Value-Add Potential! Historic multifamily investment property
  • Six spacious 1-bedroom / 1-bathroom units totaling 4,408 SF total SF
  • Constructed in 1928 with preserved architectural details and historic charm / Recent renovations started, offering value-add potential!
  • Situated on lush 0.52 acre parcel zoned R-1B
  • Strong demand for well-maintained Multifamily Rentals in the area in a vibrant community with diverse demographics
  • Close to Historic Downtown District shopping, dining, cultural attractions, local amenities, parks, schools, and recreational facilities

OVERVIEW

Lee & Associates presents an exceptional investment opportunity at 428 E Johnson Ave, Lake Wales, FL 33853. This historic two-story multifamily property, constructed in 1928, spans 4,408 square feet and is situated on a generous 0.52-acre lot. The building comprises six units, each featuring one bedroom and one bathroom, offering a total of six bedrooms and six bathrooms. Recent renovations have been initiated, providing a solid foundation for further enhancements to maximize rental income potential. ? Located in the heart of Lake Wales, this property benefits from its proximity to local amenities and attractions. The area boasts a diverse demographic, with a population of approximately 16,455 residents and a median age of 43.1 years. The community offers a blend of cultural and recreational activities, making it an attractive location for potential tenants.

FOR SALE DETAILS

PRICE

$599,000 USD

PRICE/SF

$136 USD /SF

# OF UNITS

6

PRICE/UNIT

$99,833

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Historic Lake Wales Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.53 AC

LAND SF

22,987 SF

ZONING

R-1B

APN/PARCEL ID

27-30-01-883000-044060

ASK ABOUT THIS PROPERTY

Michael AvendanoLee & AssociatesMore Info
305-484-4666

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Michael AvendanoLee & AssociatesMore Info
305-484-4666

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.