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Lake Wales Multifamily Investment Property 1021 Cohassett Ave 4 Unit Apartment Building $397,000 ($99,250/Unit) Lake Wales, FL 33853
Investment Highlights
- Triplex unit and separate cottage with income
- Premium location just off of State Road 60
- Surrounded by numerous medical and retail providers
- Strong and Stable Tenant base with potential for rent increases
- Just minutes from US 27
Executive Summary
This multifamily investment property is strategically located in Lake Wales just off State Road 60, a major east-west corridor connecting Lake Wales to Lakeland and the broader Polk County market. Just minutes from US Highway 27, the property offers convenient access to Lakeland as well as northbound routes to Davenport, Interstate 4, Celebration, and Kissimmee. Surrounded by numerous medical and retail providers, this asset benefits from a highly accessible location within one of Central Florida’s growing markets.
The property consists of a triplex and a separate detached cottage, providing four income-producing rental units with a strong and stable tenant base and potential for future rent increases. Current rental income includes:
3-Bedroom Unit – $1,200/month
2-Bedroom Unit – $850/month
1-Bedroom Unit – $850/month
Detached Cottage – $850/month
All tenants are responsible for their own electric and water utilities, helping to minimize owner operating expenses. With stable in-place income, upside potential through rental growth, and excellent connectivity to major employment centers and transportation corridors, this property presents an attractive investment opportunity in the Lake Wales market.
The property consists of a triplex and a separate detached cottage, providing four income-producing rental units with a strong and stable tenant base and potential for future rent increases. Current rental income includes:
3-Bedroom Unit – $1,200/month
2-Bedroom Unit – $850/month
1-Bedroom Unit – $850/month
Detached Cottage – $850/month
All tenants are responsible for their own electric and water utilities, helping to minimize owner operating expenses. With stable in-place income, upside potential through rental growth, and excellent connectivity to major employment centers and transportation corridors, this property presents an attractive investment opportunity in the Lake Wales market.
Property Facts
| Price | $397,000 | Building Class | C |
| Price Per Unit | $99,250 | Lot Size | 1.00 AC |
| Sale Type | Investment | Building Size | 2,587 SF |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | ||
| Zoning | R-1B Residential | ||
| Price | $397,000 |
| Price Per Unit | $99,250 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 2,587 SF |
| No. Stories | 1 |
| Year Built | 1950 |
| Zoning | R-1B Residential |
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Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 27-30-12-921000-004080 | Improvements Assessment | $84,556 |
| Land Assessment | $25,000 | Total Assessment | $109,556 |
Property Taxes
Parcel Number
27-30-12-921000-004080
Land Assessment
$25,000
Improvements Assessment
$84,556
Total Assessment
$109,556
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Lake Wales Multifamily Investment Property | 1021 Cohassett Ave
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