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1854 S Highland Park Dr 6 Unit Apartment Building $849,900 ($141,650/Unit) 6.59% Cap Rate Lake Wales, FL 33898
Investment Highlights
- Lakefront in the quaint Village of Highland Park
Executive Summary
Price Adjustment!! Unique opportunity to own a true LAKEFRONT 6 unit income property! With 100 feet of frontage on Lake Easy and a large one acre lot, this 4660+ square foot Multi-Family property has something to offer for everyone. Located in the quaint village of Highland Park, this location features a community park, walkable streets for afternoon or morning strolls, old growth and mature landscaping everywhere with that nostalgic feeling of a true neighborhood. Access to Lake Easy provides both fishing and recreation with its sandy bottom and panoramic views. This one-of-a-kind property is a must see to appreciate. All units have leases in place with a total monthly income generating approx. $6870. There are two 2 bedroom/2 bath downstairs units, both lakefront; two upstairs 1 bedroom/1 bath units, both lakefront; and 2 studio units, with no lakefront views. Most units have been recently updated, with 2 units ready to be refreshed when there is a tenant turnover (which is rare!)
Property Facts
| Price | $849,900 | Apartment Style | Low-Rise |
| Price Per Unit | $141,650 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.99 AC |
| Cap Rate | 6.59% | Building Size | 4,264 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1923 |
| Zoning | R-2 - Residential Low | ||
| Price | $849,900 |
| Price Per Unit | $141,650 |
| Sale Type | Investment |
| Cap Rate | 6.59% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.99 AC |
| Building Size | 4,264 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1923 |
| Zoning | R-2 - Residential Low |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Waterfront
- Lake Access
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+2 | 2 | - | - |
| Studios | 2 | - | - |
Property Taxes
| Parcel Number | 27-30-13-927000-000690 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $403,336 |
Property Taxes
Parcel Number
27-30-13-927000-000690
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$403,336
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