1021 Cohassett Ave - Lake Wales Multifamily Investment Property 4 Unit Apartment Building Offered at $397,000 Lake Wales, FL 33853

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.