9035 Temple Drive Lake Wales FL 33898 MLS #A11919610

THIS PROPERTY WON’T LAST LONG WITH A MAJOR $229,000 PRICE REDUCTION! 3 UNIT MULTIFAMILY OPPORTUNITY WITH CANAL FRONTAGE LEADING TO LAKE-WALK-IN WATER. Located at the end of a private, dead-end street with 164 feet of canal frontage, this unique 0.54-acre multi-family property offers direct access to the 7,500-acre Lake Walk-In-Water—nationally renowned for its trophy bass fishing. Zoned R-3, this property features three existing units and the infrastructure to add a fourth, making it the ultimate versatile asset.
CHOOSE YOUR STRATEGY: 1) The value-add investment at the newly reduced price of $229,000! The property generates $2,075/month ($24,900/year) from just two occupied units (Units A and C), with tenants paying their own utilities. IMMEDIATE UPSIDE: Lease the currently vacant Unit B ($750.00/month) $33,900.00/year unlocking a massive DOUBLE-DIGIT CAP RATE! 2) The Waterfront “House Hacker” Stop paying a mortgage and start getting paid to live on the water. You can immediately move into Unit B—a vacant, sturdy 1975 concrete block apartment featuring a kitchenette and its own private dock. While you enjoy the lake lifestyle, your neighbors in Units A and C will generate $2,075/month which can easily cover your mortgage and property taxes ($3,177/yr), and insurance. Keep it all for your family, or rent out one unit to cover the annual carrying cost. This multifamily property offers multiple strategies and won’t last long!