Property Description
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!
Property Features
Property Type: Multi Unit - Multiple
Cooling: Wall/Window Unit(s)
Heating: Electric, Space Heater
Lot Size: 0.79 Acres
Roof Type: Other, Shingle
Stories: 1.0
Taxes: $9,928
Year Built: 1926
Square Feet: 5,030
Amenities
Window Treatments
Storage
Feature Descriptions
Annual Net Income: 42841.00
Directions: From Hwy 27 travel south to Lake Wales, turn east onto Central Ave, turn right onto First Street, turn left onto Ridge Manor Drive, property is on the corner of Exmor and Ridge Manor Drive.
Exterior: Stucco, Frame
Fireplace: Living Room
Fireplace Y/N: Yes
Flood Zone Code: X
Foundation: Crawlspace
Home Warranty Y/N: No
Lease Terms: Twelve Months
Listing Terms: Cash, Conventional
Lot Dimensions: 0.79
Ownership: Fee Simple
Patio/Porch: Patio, Porch, Screened
Property Attached Y/N: No
Property Sub-Type: Quadruplex
Sewer: Septic Tank
Showing Instructions: 24 Hour Notice, Appointment Only, Listing Agent Must Accompany
Special Sale Provisions: None
Units: 11
Utilities: Electricity Connected, Propane, Public
Water: Public
Water Access Y/N: No
Zoning: R-2
Listed By / Shown By
Listed By
Agency Name: LEGACY REAL ESTATE CENTER INC
Agency Contact: 863-676-0200
Shown By
Agency Title: Watson Realty Corp., REALTORS ®
Agency Phone: (866) 243-8193
Estimate Your Payment
Estimated Payment
$ 4,913.27 per month $3,852.90 Principal & Interest $827.33 Property Tax $233.04 Homeowner's InsuranceChange Payment Information
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315 Ridge Manor Drive | MLS# K4903360
This multi-family property located at 315 Ridge Manor Drive , Lake Wales, FL 33853 is currently listed for sale with an asking price of $799,000. Search Lake Wales real estate on www.watsonrealtycorp.com today.