Listed by Simon Gray Realty
$255,000
130 E Northside Drive
Details
APN 342927875300001120
Property Type Mixed Use
Square Footage 1,831
Units 2
NOI $28,800
Year Built 1938
Lot Size (SqFt) 10,197
Zoning R3
Mixed Use | 1,831 SqFt
Marketing description
This lakefront multi-family property in the heart of Lake Wales presents a rare opportunity for both savvy investors and future owner-occupants alike. Delivering an impressive ~about 8% cap rate with an all-cash purchase—and closer to about a 9% cap with just 20% down at today's prevailing rates—this is a strong income-producing asset with immediate upside. Even more compelling, for those looking to live in one unit, the numbers make ownership more affordable than renting, while the second unit helps offset your mortgage. The property offers two well-designed 2-bedroom, 1-bath units with open-concept living, generous outdoor space, and desirable lakefront appeal with no HOA. While a new roof is needed, the seller is offering a $10,000 concession with a full-price offer
Listing Contacts
Listed by Simon Gray Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$28,800.00
$2,400.00/mo
Valuation Metrics
0
DSCR
11.29%
Cap Rate
11.29%
ROI
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