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130 Northside Drive
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PRICED AT ONLY: $258,000

Address: 130 Northside Drive, Lake Wales, FL 33853

Description

This lakefront multi family property in the heart of Lake Wales presents a rare opportunity for both savvy investors and future owner occupants alike. Delivering an impressive ~about 8% cap rate with an all cash purchaseand closer to about a 9% cap with just 20% down at today's prevailing ratesthis is a strong income producing asset with immediate upside. Even more compelling, for those looking to live in one unit, the numbers make ownership more affordable than renting, while the second unit helps offset your mortgage. The property offers two well designed 2 bedroom, 1 bath units with open concept living, generous outdoor space, and desirable lakefront appeal with no HOA. While a new roof is needed, the seller is offering a $10,000 concession with a full price offer

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  • MLS#: R11150451 ( Residential Income )
  • Street Address: 130 Northside Drive
  • Viewed: 119
  • Price: $258,000
  • Price sqft: $141
  • Waterfront: No
  • Year Built: 1938
  • Bldg sqft: 1831
  • Total Baths: 2
  • Days On Market: 11

Description

This lakefront multi family property in the heart of Lake Wales presents a rare opportunity for both savvy investors and future owner occupants alike. Delivering an impressive ~about 8% cap rate with an all cash purchaseand closer to about a 9% cap with just 20% down at today's prevailing ratesthis is a strong income producing asset with immediate upside. Even more compelling, for those looking to live in one unit, the numbers make ownership more affordable than renting, while the second unit helps offset your mortgage. The property offers two well designed 2 bedroom, 1 bath units with open concept living, generous outdoor space, and desirable lakefront appeal with no HOA. While a new roof is needed, the seller is offering a $10,000 concession with a full price offer
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Features
Building and Construction
  • Flooring: Wood
  • Roof: Other
School Information
  • High School: Lake Worth
  • Middle School: Lake Worth
  • School Elementary: Lakeside
Utilities
  • Cooling: Central Air
  • Electric: Three Phase
  • Heating: Central, Electric
  • Utilities: Electricity Connected, Natural Gas Available
Finance and Tax Information
  • Tax Year: 2025
Rental Information
  • Tenant Pays: Cable TV, Electricity, Insurance, Water
Other Features
  • Legal Description: NORTHSIDE HEIGHTS PB 36 PG 48 BLK A LOT 12
  • Parcel Number: 342927875300001120
  • Views: 119
  • Zoning Code: R3
Nearby Subdivisions
Alta Vista   Alta Vista Resub   Blanchard Terrace   Cary Walters Sub   Crown Pointe Ph 01   Crown Pointe Ph 02   Druid Hills   East Lake Park Ph 01   East Lake Park Ph 03   Eastlake Park Ph Ii   Fresco Park Pb 33 Pg 20   Greenbriar Ph 1   Hibiscus Park   Highland Crest Ph 02   Highland Pointe   Highland Pointe Ph 02   Hunt Clublk Wales Ph 1   Lake Wales   Lake Wales Highland Heights Re   Lake Wales Land Co Sub   Lake Wales Resub   Lake Wales Resubdivision   Lincoln Park Add   Morningside Park   North Shore Hills   North Shore Hills Add   Northshore Highlands   Northside Heights   Orange Center Sub   Palm Park Terrace   Pinehurst Sub   Ridge Manor   Roosevelt Manor   Scenic Bluff Ph 2   Scenic Bluff Ph Two   Shadow Lawn Sub   Shephards   Thousand Roses   Thulberrys Second Sub   Tillman Sub   Twin Lake Park Resub   Twin Lake Park Sub   View Pointe  
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