335 East Central Avenue

Lake Wales, FL 33853

$510,000
Last Sold Price
7
Beds
3,728 Sq. Ft.
$137 / Sq. Ft.
3,728
Sq. Ft.
$137
per Sq. Ft.

Sold 11/27/24

Sold 11/27/24

a front view of a house with a yard

Description

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...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.
  1. Listed by Shawn Tingle • FLORIDA REALTY INVESTMENTS

Property Details for 335 East Central Avenue

Subdivision Name
LAKE WALES
Township
30
Waterfront
No
Furnished
Unfurnished
LISTING UPDATED: 11/27/2024 07:54 PM

Property Details for 335 East Central Avenue

StatusSold
MLS #P4931739
Days on Market64
Taxes$3,925 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Quadruplex
Year Built1923
Lot Size0.41 AC / 17,977 SF
CountyPolk County

Building Information for 335 East Central Avenue

Stories-Residences4Year Built1923Building Size-Lot Size0.41 AC / 17,977 SF

Property Information for 335 East Central Avenue

Summary
Location and General Information
  • Building Area Source: Public Records
  • Building Area Total: 4000.0
  • Building Area Units: Square Feet
  • 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.
  • Elementary School: Spook Hill Elem
  • Middle Or Junior School: Mclaughlin Middle
  • High School: Lake Wales Senior High
  • Mls Major Change Type: Sold
  • Major Change Type: Closed
  • Listing Service: Full Service
  • Senior Community: No
  • Unit Number: No
  • Street Number: 335
  • Street Direction Prefix: E
  • Street Name: CENTRAL
  • Street Suffix: AVENUE
  • State: FL
  • City: LAKE WALES
Parking
  • Carport: No
  • Garage: No
  • Parking Features: Assigned, Driveway, Guest
Taxes and HOA Information
  • Association Fee Requirement: None
  • Association: No
  • CDD: No
  • Tax Block: 33
  • Tax Book Number: 1-88A
  • Tax Legal Description: LAKE WALES PB 1 PG 88A 88B S1&2 T30 R27 BLK 33 LOTS 18 & 19
  • Tax Lot: 18
  • Tax Year: 2023
Virtual Tour
Property
Lot Information
  • Additional Parcels: No
  • Lot Features: In City Limits, Landscaped, Level/Flat, Oversized Lot, Sidewalk, Street Paved
  • Lot Size Dimensions: 120x150
  • Parcel Number: 27-30-01-883000-033180
  • Total Acreage: 1/4 to less than 1/2
  • Total Num Buildings: 3
  • Water Access: No
  • Water Extras: No
  • Zoning: R-2
  • Living Area: 3728
  • Lot Dimensions: 120x150
Property and Assessments
  • Year Built Numeric: 1923
  • Flood Zone Code: no
  • Homestead: No
  • New Construction: No
  • Property Attached: No
  • Property Condition: Completed
  • Public Survey Range: 27
  • Public Survey Section: 01
  • Dock YN: No
Utilities
  • Sewer: Public Sewer
  • Utilities: BB/HS Internet Available, Cable Connected, Electricity Connected, Sewer Available, Street Lights, Water - Multiple Meters, Water Connected
  • Water Source: Public
  • Num Electric Meters: 4.0
  • Num Water Meters: 4.0
Interior and Exterior Features
Exterior Features
  • Construction Materials: Cedar, Wood Frame, Wood Siding
  • Exterior Features: Sidewalk
  • Foundation Details: Crawlspace, Slab
  • Levels: One
  • Patio And Porch Features: Covered, Front Porch
  • Pool Private: No
  • Pool: None
  • Pool Private: No
  • Roof: Metal, Shingle
  • Waterfront Feet Total: 0
Interior Features
  • Bedrooms Total: 7
  • Additional Rooms: Breakfast Room Separate, Inside Utility
  • Appliances: Built-In Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Exhaust Fan, Ice Maker, Microwave, Refrigerator, Washer
  • Cooling: Central Air, Wall/Window Unit(s)
  • Fireplace Features: Family Room
  • Fireplace: Yes
  • Flooring: Ceramic Tile, Wood
  • Heating: Central, Electric, Other
  • Interior Features: Attic Fan, Cathedral Ceiling(s), Ceiling Fans(s), Crown Molding, High Ceiling(s), Kitchen/Family Room Combo, Living Room/Dining Room Combo, Open Floorplan, Primary Bedroom Main Floor, Solid Surface Counters, Solid Wood Cabinets, Split Bedroom, Thermostat, Vaulted Ceiling(s), Walk-In Closet(s)
  • Laundry Features: Inside
  • Living Area Source: Public Records
  • Living Area Units: Square Feet
  • Water View: No
  • Window Features: Aluminum Frames
Multi Family
Multi-Family Information
  • Annual Net Income: $51,300.00
  • Gross Income: $58,500
  • Total Monthly Expenses: $600
  • Unit Count: 4
Unit 1
  • Unit Type Baths Total 1: 2
  • Unit Type Beds Total 1: 3
  • Unit Type Description 1: Main house on Central Avenue
  • Unit Type Garage Attached 1: No
  • Unit Type Heated Sq Ft 1: 1950
  • Unit Type Number Of Units Occupied 1: 1
  • Unit Type Pro Forma 1: 1950
  • Unit Type Type 1: 3 Bed/2 Bath
  • Unit Type Units Total 1: 1
Unit 2
  • Unit Type Baths Total 2: 1
  • Unit Type Beds Total 2: 1
  • Unit Type Description 2: Efficiency on rear of the Main house. Full kitchen, bathroom & living room/bedroom combo
  • Unit Type Garage Attached 2: No
  • Unit Type Heated Sq Ft 2: 600
  • Unit Type Pro Forma 2: 900
  • Unit Type Type 2: 1 Bed/1 Bath
  • Unit Type Units Total 2: 1
Unit 3
  • Unit Type Baths Total 3: 1
  • Unit Type Beds Total 3: 2
  • Unit Type Description 3: Separate building in rear of property
  • Unit Type Garage Attached 3: No
  • Unit Type Heated Sq Ft 3: 800
  • Unit Type Number Of Units Occupied 3: 2
  • Unit Type Pro Forma 3: 1100
  • Unit Type Type 3: 2 Bed/1 Bath
  • Unit Type Units Total 3: 1
Unit 4
  • Unit Type Baths Total 4: 1
  • Unit Type Beds Total 4: 1
  • Unit Type Description 4: Separate building in rear of property
  • Unit Type Garage Attached 4: No
  • Unit Type Heated Sq Ft 4: 600
  • Unit Type Number Of Units Occupied 4: 2
  • Unit Type Pro Forma 4: 925
  • Unit Type Type 4: 1 Bed/1 Bath
  • Unit Type Units Total 4: 1
Rental
Rental Information
  • Tenant Pays: Electricity, Water
  • Total Actual Rent: $4,875

Property History for 335 East Central Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 335 East Central Avenue

Taxable ValueLand-Additions-Total-
Tax Record2024$7,707 ($642 / month)
Home Facts
Beds1Total Finished SqFt450 SqFtAbove Grade Finished SqFt450 SqFtStories1Lot Size17,977 SqFtStyleSingle Family ResidenceYear Built1923Year Renovated1990ZoningR-2CountyPOLKAPN273001883000033180

Schools near 335 East Central Avenue

This home is within Polk.
Rating
School
Type
Grades
Distance
Spook Hill Elementary School
Public - PK to 5
Bartow Elementary Academy
Public - K to 5
Union Academy
Public - 6 to 8
Mclaughlin Middle School And Fine Arts Academy
Public - 6 to 10
Rating
School
Distance
Spook Hill Elementary School
PublicPK to 5

Bartow Elementary Academy
PublicK to 5

Union Academy
Public6 to 8

Mclaughlin Middle School And Fine Arts Academy
Public6 to 10

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of FLORIDA REALTY INVESTMENTS, Shawn Tingle

The information being provided by MFRMLS and Daytona Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of MFRMLS or Daytona Multiple Listing Service. Real estate listings held by brokerage firms other than this site owner are marked with the IDX/MLS logo. Information deemed reliable but is not guaranteed accurate by MFRMLS or Daytona Multiple Listing Service. Last updated: 11/27/2024 07:54 PM