Mountain lake cutoff rd. Lake Wales, FL 33859

  • House
    10104 ft2
    bedroom 13 Bedrooms
    bathroom 12 Baths
  • Flip
    $403,000
    Status : Sold
    Year Built : 1950
 Description
Property Overview:  
At roughly 40 per sq ft this is a tough property to pass up.  Most multifamily in the area are selling over 50K per door.  With proper management this could be a great cash cow for years to come.  Property also is located on a small lake and has 12+ acres.  Located 15 mintues from legoland.

Property Features:
  3 buildings & storage unit. One building has 7 apartments 2 single family homes, concrete driveways, small lake behind building, 12+ acres.  Well water and 4 septic tanks as well as roof redone in 2007

Zoning: Mulit Family under 10 units
7  x  1/1 867sqft apartments
3/2.5 2600sqft SFR
3/2 1515 sqft SFR

 Rehab Work Needed
 General Amenities
 Distance
Comparables (Comps.)

Comparable #1

3029 Azalea Ave, Lake Wales, FL, USA, 33898

Sold : $315,000

 Summary

Overview
Mountain lake cutoff rd. Lake Wales, FL 33859 Sold
$403,000
Property ID: 5b8f1289c2a77
Address: Login to View
City: Lake Wales
State/Province: FL
Zip Code: 33859
Country: USA


Flip Analysis

+ Purchase Price: $403,000
+ Purchase Closing Cost: $12,090
+ Rehab Cost: $70,000
Total Acquisition Cost: $485,090


+ Selling closing cost: $18,150
Total Holding Cost: $18,150


Total Flip Cost: $503,240
Projected ARV: $605,000
Net Income (Profit): $101,760
CAP Rate: 20.22%

 Message

1 X 8 = ?