9035 TEMPLE DRIVE, Lake Wales, FL 33898

• 3 beds |
• 4 baths |
• 1,652 sqft

Property Description

THIS PROPERTY WON’T LAST LONG WITH A MAJOR $229,000 PRICE REDUCTION!! 3 UNIT MULTIFAMILY OPPORTUNITY WITH CANAL FRONTAGE LEADING TO LAKE-WALK-IN WATER. Located at the end of a private, dead-end street with 164 feet of canal frontage, this unique 0.54-acre multi-family property offers direct access to the 7,500-acre Lake Walk-In-Water—nationally renowned for its trophy bass fishing. Zoned R-3, this property features three existing units and the infrastructure to add a fourth, making it the ultimate versatile asset. Whether you are looking for a high-yield investment, a subsidized waterfront lifestyle, or a multi-generational getaway, this newly repriced asset is priced to move. CHOOSE YOUR STRATEGY: 1) The value-add investment at the newly reduced price of $229,000! The property generates $2,075/month ($24,900/year) from just two occupied units (Units A and C), with tenants paying their own utilities. IMMEDIATE UPSIDE: Lease the currently vacant Unit B ($750.00/month) $33,900.00/year unlocking a massive DOUBLE-DIGIT CAP RATE!!! 2) The Waterfront "House Hacker" Stop paying a mortgage and start getting paid to live on the water. You can immediately move into Unit B—a vacant, sturdy 1975 concrete block apartment featuring a kitchenette and its own private dock. While you enjoy the lake lifestyle, your neighbors in Units A and C will generate $2,075/month which can easily cover your mortgage and property taxes ($3,177/yr), and insurance. You get to live on the water virtually for free while building equity. The Family Compound / Fish Camp: a multi-generational retreat or a shared family vacation property? This compound offers three distinct, private living spaces on one lot. With multiple docks and direct canal access just three blocks from the public boat ramp, it is the perfect setup for a family of outdoor enthusiasts. Keep it all for your family, or rent out one unit to cover the annual carrying cost. This multifamily property offers multiple strategies and won’t last long!

Listing Status:

Active

Date Added:

November 25, 2025

Data Last Updated:

March 29, 2026 at 7:24AM

Listing Office:

LPT REALTY, LLC : 877-366-2213

Listing Agent:

Tania Bobe : 863-270-2138

MLS ID:

P4937133

Interior

• General: Other
• Appliances: MicrowaveRangeRefrigerator
• Laundry: None
• Flooring: Wood
• A/C: Wall/Window Unit(s)
• Heating: Ductless

Exterior

• General: Other

Construction

• Roofing: Metal
• General: ConcreteOneBlock

Location

• Road/Access: Paved
• Originating MLS: Stellar MLS
• County: Polk

Lot

• Zoning: R-3BEG NW COR OF SE1/4 RUN S 1001.23 FT TO 40 FT RD ELY ALONG C/L RD 309.13 FT FOR POB RUN N 18 DEG 54 MIN 33 SEC E 150.12 FT TO C/L WATERWAY ELY ALONG C/L 115.98 FT CONT N 81 DEG E 82.1 FT S 33 DEG 57 MIN 52 SEC W 217.39 FT S 31 DEG 06 MIN 01 SEC W 40 FT WLY 113.38 FT TO POB LESS N 25 FT &LESS S 20 FT BEING LOT 56 W INDIAN LAKE HGTS SUB29-31-05-000000-023030

Utilities

• Utilities: Other
• Water: PrivateWell
• Sewer: None

Financial

• Source: Stellar MLS
• Ownership: Fee Simple