Lake Wales Multifamily Homes For Sale

8 Beds ⋅ 8 Baths ⋅ Country Oaks Estates SubDv. ⋅ 33898 Zip Code

Wonderful duplex amongst other duplexes and houses on spacious country, mostly tree shaded lots, in the community of Country Oaks Estates in Lake Wales. Units have been renovated and are beautiful! The interior photos are of the unoccupied unit, that is kept vacant for ease of viewing. The apartments in this area rent very well, partially because of the rural setting with close proximity to shopping and the ease of travel because of Hwy 60 and 27. However, the oversized apartments with the feel of a single-family home, including having an individual garage and patio overlooking "house like" backyards, really makes these popular amongst apartment dwellers.

3779 Red Oak Court, Lake Wales

$299,890

4 Beds ⋅ 2 Baths ⋅ Orange Center Sub SubDv. ⋅ 33853 Zip Code

Virtually Staged. Excellent Investment Opportunity in Lake Wales! (New roof being and New hot water heaters being installed) This well-maintained duplex offers an excellent opportunity for investors, first-time buyers, or anyone looking for a property that can generate rental income. Each unit features 2 bedrooms, 1 bathroom, and a full kitchen, providing comfortable and functional living space. One of the units has been completely remodeled inside, offering a fresh, updated feel. The second unit features durable tile flooring throughout. This property is an ideal house-hacking opportunity — live comfortably in one side while renting out the other to help offset your mortgage and expenses. It also makes a great addition to an investment portfolio with the potential for rental income from both units. Whether you’re looking to live in one unit and rent the other or add a solid income-producing property to your portfolio, this Lake Wales duplex is worth taking a look at! Two units • 2 bedrooms/1 bath each • Full kitchens • Remodeled unit • Tile flooring • Great investment potential

106-108 W Orange Avenue, Lake Wales

646 Beverly Drive Unit 646 and 648, Lake Wales

$275,000

4 Beds ⋅ 2 Baths ⋅ Ridge Manor SubDv. ⋅ 33853 Zip Code

Virtually Staged. INVESTMENT OPPORTUNITY in Lake Wales! This well-constructed brick duplex presents an excellent opportunity to acquire an income-producing property with additional value-add potential. The property consists of two spacious 2-bedroom, 1-bath units, each offering an oversized driveway for ample off-street parking and access to a fenced-in backyard. The durable brick construction and solid foundation provide a strong starting point for continued ownership and improvement. Several significant updates have already been completed. Unit 648 features an AC system, water heater, and luxury vinyl plank flooring installed approximately two years ago. The property was also updated with new plumbing approximately two and a half years ago, and the septic tank and drain field were replaced approximately four and a half years ago. One unit is currently rented, while the second unit is vacant and provides an opportunity for an investor to renovate, lease, and increase overall income potential. With approximately $30,000 in potential annual rental income when fully occupied, this property offers the opportunity to combine existing rental income with future upside through strategic improvements. Located in Lake Wales, the property provides convenient access to local shopping, dining, schools, parks, and major roadways, making it a practical location for both residents and rental tenants. A solid opportunity for an investor seeking a two-unit property with established improvements and room to add value.

646 Beverly Drive Unit 646 and 648, Lake Wales

$299,990

4 Beds ⋅ 2 Baths ⋅ 33853 Zip Code

Charming lakefront living on beautiful Lake Belle awaits with this unique property featuring a 2-bedroom, 1-bath main home as well as a detached rental unit which is a 1-bedroom, 1-bath with its own kitchen, offering exceptional flexibility for guests, extended family, a private retreat, or potential rental income. The main home is filled with character and features original hardwood flooring throughout, warm wood-paneled walls, exposed timber ceilings, abundant natural light, beautiful pine ceiling room, a comfortable living room, and a cozy kitchen. The two bedrooms are bright and inviting, with a convenient Jack-and-Jill bathroom providing access between the bedrooms.A screened-in front porch provides a peaceful space to relax and enjoy the surrounding greenery. The main home has been COMPLETELY REPLUMBED, features UPDATED ELECTRICAL, and has a 2021 ROOF. The DETACHED UNIT HAS BEEN REFRESHED WITH NEW FLOORING AND NEW BATHROOM EQUIPPED WITH A MINI SPLIT AC INSTALLED IN 2022. The property is served by public water and septic, including separate systems for the main home, guest house, and camping area, plus an additional septic near the shed. Outside, enjoy the beauty of direct LAKE BELLE FRONTAGE, mature trees, peaceful water views, and spectacular sunsets that make this property truly special. A CIRCULAR DRIVEWAY provides convenient access to the two structures, while the spacious grounds offer plenty of room to enjoy the outdoors. Ideally situated along S Scenic Highway, this property combines a peaceful lakefront lifestyle with convenient access to downtown Lake Wales, local shopping and dining, Bok Tower Gardens, nature trails, scenic lakes, and major Central Florida roadways. With two separate living spaces, extensive updates, multiple septic systems, and beautiful Lake Belle frontage, this property offers a rare combination of charm, versatility, and waterfront living.

1120 S Scenic Highway, Lake Wales

$350,000

6 Beds ⋅ 5 Baths ⋅ 33859 Zip Code

Zoned C-3! .83 acre, 267' of Highway 60 Road frontage! 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 storage building 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. Could be used 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 storage unit and studio share same meter currently. The tenants have the well and septic at no cost to them.

1725 Old Bartow Road, Lake Wales

$749,000

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

3108 - 3110 - 3112 - 3114 Holly Street, Lake Wales

$579,999

4 Beds ⋅ 2 Baths ⋅ Golf View Park Resub SubDv. ⋅ 33898 Zip Code

Excellent investment opportunity! This well-maintained duplex features two separate buildings, each offering comfortable living spaces and private entrances. Ideal for investors or owner-occupants, the property provides steady rental potential or the flexibility to live in one unit while generating income from the others. Each unit includes spacious bedrooms, functional kitchens, bright living areas, and well-appointed bathrooms. The property sits on a generous lot with ample parking and outdoor space. Conveniently located near schools, shopping, public transportation, and major roadways, ensuring strong tenant demand. Whether you’re expanding your portfolio or searching for a smart live-in investment, this duplex offers value, versatility, and long-term potential. This sale contains two duplexes that has four, 2 bedroom 1 bath units.

3108 - 3110 - 3112 - 3114 Holly Street, Lake Wales

$285,000

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

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

$725,000

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

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