6 Unit Multi-Family Complex W Polk Ave. Lake Wales, FL. 33853
Property Detail
Type
Multifamily over 4 Units, **SOLD** Status
Cash Flow, **SOLD** Location
Florida
Sub Location
Lake Wales
Price
$249,900
Sq. Ft.2,681Bedrooms7Bathrooms6Rent/mo$4,470+/-Rehab$55,000+/-GarageNonePoolNoneTaxes/yr$1,120.89Lot Size (Acres)0.2548ConstructionBlockWaterfrontNoneYear1925SubdivisionTwin Lake ParkHOA Fees/mon/a
Property Description
This is a Quadplex and Duplex on one property. Two units in the quadplex and one in the Duplex are currently rented. There is newer furniture in all of them. They all rent by the week except for one.
The main repair that is needed is a new roof on both buildings.The estimated cost for that is $19,500, given by a roofing company. Also the A/c System Serving 22 needs to be replaced, and the rest need to be serviced. Some painting inside and outside and landscaping work wouldn’t hurt either. So we’re figuring about $50,000 in repairs to be safe. All electric has been updated, fixtures and appliances are new as well.
This is what they rent for now:
26A = $225/week
26B = $190/week
26C = $175/week
26D = $225/week
22 = $165/week (took it as is on the A/C
22.5 = $550/mo (legacy tenant)
22.5 = $550/mo (legacy tenant)
Showings are by Appointment Only.
