9035 TEMPLE DRIVE, Lake Wales, FL 33898

• 3 beds |
• 4 baths |
• 1,652 sqft

Property Description

Nearly A 10% CAP RATE! Canal Front Multifamily Property Consisting Of 2 Single Wide Mobile Homes and 1 CBC Apartment Offering LOW OPERATING EXPENSES And VALUE-ADD OPPORTUNITY Located Just 3 Blocks From Lake Walk In Water’s Public Boat Ramp In Eastern Lake Wales, Florida. Current Income: $2,075/Month and $24,900/Year Potential Gross Income: $2,675/Month and $32,100.00/Year The 3 residences sit on a well kept, 0.54 acre lot zoned R-3 with 198+\-ft of canal frontage with direct access to Lake Walk-In Water. Unit A (OCCUPIED): 2BR/1BA, 1978, 728 sqft single wide mobile home at $900/month. Unit B (VACANT- VALUE-ADD): 1BR/1BA 1975 , 485 sq ft concrete block apartment featuring a kitchenette and its own private dock. The vacant unit allows for new owner to place a tenant for immediate income or possible renovations and upgrades for increased rent. Previously rented for $600/month. Unit C (OCCUPIED): Updated and spacious 1989, 924 sq ft 3BR/2BA single wide mobile home generating $1,175/month. This unit features a mini-split AC, a large master bedroom with a walk-in closet and a built-in office. Tenant’s rent includes electric, utilities, trash and septic. Landlord pays taxes and insurance. This stabilized multifamily property offers investors an exceptional cap rate, low operational expenses, canal frontage with direct access to Lake Walk-In-Water, value appreciation and value-add opportunity with a new tenant for immediate income and renovation potential for increase rent. Investments like these don’t come around that often in Polk County, Florida. Call to schedule an appointment. SELLER WILL CONSIDER SELLER FINANCE ALSO!

Listing Status:

Active

Date Added:

November 25, 2025 at 06:00AM

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

This listing courtesy of Tania Bobe, LPT REALTY, LLC