Lake Wales Multifamily Homes For Sale

Lincoln Park Add SubDv. ⋅ 33853 Zip Code

Excellent investment opportunity in the heart of Lake Wales! This fully occupied (with one vacant unit ready for lease or owner use) 4-unit multifamily property offers immediate income potential with value-add upside. The property consists of four separate units with a desirable tenant mix. Unit 1 is leased through October 17, Units 2 and 4 are on month-to-month leases, providing flexibility for future rent adjustments, and Unit 3 is currently vacant, making it ideal for an owner-occupant or to lease at current market rates. Conveniently located near shopping, dining, schools, and major roadways, this property is well-positioned for long-term rental demand. Whether you're looking to expand your investment portfolio or start generating rental income, this multifamily property offers a great combination of cash flow, flexibility, and future potential. Property is occupied, please do not approach the property without coordinating with LA.

130 D Street Unit 1,2,3,4, Lake Wales

$397,000

8 Beds ⋅ 4 Baths ⋅ Lake Wales Highland Heights Add SubDv. ⋅ 33853 Zip Code

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. The property is also just minutes from US Highway 27, providing convenient access to Lakeland as well as northbound routes to Davenport, Interstate 4, Celebration, and Kissimmee. The property consists of four income-producing rental units, including: One 3-bedroom unit currently leased for $1,200 per month One 2-bedroom unit currently leased for $850 per month One 1-bedroom unit currently leased for $850 per month One detached cottage currently leased for $850 per month All tenants are responsible for their own electric and water utilities, helping to minimize owner operating expenses. This property offers stable rental income with strong accessibility to major employment centers, transportation routes, and growing Central Florida markets.

1021 Cohassett Avenue, Lake Wales

$380,000

8 Beds ⋅ 5 Baths ⋅ 33859 Zip Code

Unique and rare opportunity to own a Multifamily concrete building with 4 units plus a single wide mobile home on almost an acre of land Located on Highway 60 Lake Wales in Polk County! The sale also includes a detached enclosed garage 34x25, a well water system in its own secured enclosed area, newer septic tank, new roof in 2023 on the main building, bathrooms remodeled, interior paint. 2 units upstairs and 2 units downstairs plus 732 square feet of the mobile home. The land is large enough to remove the 1973 single wide mobile home and replace or use for commercial purposes as it is located within a Commercial Future Land Use, Selected Area Plan (SAP). The property is a legal Non-Conforming due to having Multiple Primary Residences within a Commercial Land Use. Check with the county for possibilities as the property is adjacent to a commercial property. Tenant has their own electric meter with the exception of the garage and studio share same meter currently. The tenants have the well and septic at no cost to them.

1725 Old Bartow Road, Lake Wales

$759,000

6 Beds ⋅ 12 Baths ⋅ Ridge Manor SubDv. ⋅ 33853 Zip Code

Exceptional 11-Unit Income Opportunity with Strong Rental Appeal! Don’t miss this unique mixed-unit multifamily property offering a versatile unit mix designed to attract a wide range of tenants and help minimize vacancies. With all 11 units currently occupied and long-term leases in place, this property provides immediate and stable income for the savvy investor. Ideally located with convenient access to schools, shopping, medical facilities, and major travel routes including Hwy 27 and SR 60, tenants enjoy easy north/south/east/west commuting—making this a highly desirable rental location. Recent improvements include a new roof and new septic drainfield, offering added peace of mind and reduced near-term capital expenses. Whether you’re expanding your portfolio or seeking your first solid, income-producing asset, this property checks all the boxes. Private showings are now being scheduled—secure your opportunity today!

315 Ridge Manor Drive, Lake Wales

$305,000

2 Beds ⋅ 3 Baths ⋅ Lake Wales SubDv. ⋅ 33853 Zip Code

Reduced price! Motivated seller! High-Yield Turnkey Triplex with 2024 Upgrades! Investors, seize this rare income-producing asset generating $3,000 in gross monthly revenue with an exceptionally low expense profile. Situated on a spacious 0.31-acre lot, this property offers the perfect blend of density and privacy across two solid brick residential buildings. Major 2024 Capital Upgrade: A Brand New Roof was installed across the property in 2024, providing years of worry-free ownership. Both primary buildings are equipped with Central AC to ensure maximum tenant comfort and retention. The Layout:425 E Sessoms Ave: A standalone 1-bedroom, 1-bathroom cottage (685 sq ft) featuring a private 90 sq ft finished screened porch and a classic fireplace. 427 E Sessoms Ave (Front): A private 1-bedroom, 1-bathroom suite with its own dedicated front entrance and porch. 427 E Sessoms Ave (Rear): A secluded private studio with a separate side/rear entrance for ultimate tenant privacy. Bonus Value: A detached large storage building at the rear includes an on-site laundry room, a high-demand amenity that adds significant utility. Built with common brick exterior walls, this property is designed for low-maintenance, long-term performance. With an annual gross income of $36,000 and minimal overhead, this "Cash Cow" is ready for Day 1 operations. Schedule your showing today!

425 E Sessoms Avenue, Lake Wales

$1,650,000

6 Beds ⋅ 10 Baths ⋅ Lake Wales SubDv. ⋅ 33853 Zip Code

Truly rare opportunity to own a piece of Lake Wales History and the painstaking task of historic preservation has already been done! Built in 1915, the J.T. Rhodes Building was one of the first two brick-and-mortar buildings in Lake Wales. The City owes its origin to the building, where the villagers gathered upstairs in what was then the Masonic Hall on the night of April 27, 1917 to sign a petition to the Legislature for the issuance of a city charter. The Legislature responded by incorporating the City, whose charter was signed into law by Governor Sidney J. Catts on May 28, 1917. This amazing piece of architecture is home to one of the few mixed-use buildings in downtown. Downstairs are 2 commercial suites, with long term tenants in place! Upstairs you will find 4 well-appointed and thoughtfully designed apartments! All of the apartments have in unit laundry, modern kitchens with all new appliances, original hardwood flooring, timeless baths, spacious rooms and high ceilings... all while maintaining the historic character & charm! The completion of this building is perfectly timed with the revitalization of downtown Lake Wales, the property is positioned at the heart of the city's walkable new streetscape - complete with brick paved streets, lush park-like settings and a growing calendar of community events! The City is in the process of designating downtown Lake Wales an Arts, Cultural & Entertainment (ACE) District which will provide an environment welcoming growth and promoting prosperity! The investment in this renovation and historic preservation is unmatched, with no detail overlooked. The goal was to preserve this piece of history for the next 100 years and every decision was made with that long term vision.... An invaluable gift to the person lucky enough to be the new owner, entrusted with the legacy of the J. T. Rhodes building!

244 E Park Avenue, Lake Wales

$299,900

4 Beds ⋅ 4 Baths ⋅ Twin Lake Park Sub SubDv. ⋅ 33853 Zip Code

***HUGE PRICE REDUCTION***Looking for an investment opportunity look no further! This triplex also has a detached unit and is nestled on an oversized lot in the heart of Lake Wales just minutes from downtown. The front unit has 1 bedroom and 1 bathroom and is nearly 500 living sq. ft. The rear unit also has 1 bedroom and 1 bathroom with nearly 500 living sq. ft. The third unit is a studio that is roughly 400 living sq. ft. The detached unit has 2 bedrooms and 1 bathroom and is just over 600 sq. ft. All units are occupied with the monthly rents totaling $3,995.00 and an annual gross income of $47,940.00. So call today to get in on the action before this amazing opportunity slips away!

26 W Polk Avenue, Lake Wales

$799,000

6 Beds ⋅ 8 Baths ⋅ Highland Park Sub SubDv. ⋅ 33898 Zip Code

PRICE IMPROVEMENT!! 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. $6850. 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 only 1 unit needing to be refreshed when there is a tenant turnover (which is rare!)

1854 Highland Park Drive S Unit A-F, Lake Wales

Lake Wales Investment Properties