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* Property consisting of: 9 separate single family houses with 10 total units on 2 acres. * Nice mix of 2-3 br concrete block/frame houses. * Owner occupied/managed (13 yrs) & now retiring. * Large maint/stg shed.. * Many large oaks and mature palms. * 5 vacant acres on one side nicely overgrown for great privacy. * "GrowHealthy" 180,000 sq. ft. medical marijuana plant 1 block away. * Great tenants. Some very long term. * Updated septics, wiring, plumbing, some tiled floors, windows, screens, appliances. * Low overhead: Taxes $3508 + fire, private well, sep. elec meters, parking, cable, street lighting. * Lawn & general maint by onsite owner. * Out in county so can burn yard waste in fire pit. * CSX intermodal 5 miles. 8000 jobs created. * Planned tollway extension within 1/2 mile. * Lake Wales airport with active parachute clubs almost adjacent. * Lowe's, Home Depot, Eagle Ridge Mall, Bok Tower, Chili's, Manny's, Crazy Fish, McD's, Beef O Brady's, Publix, Save A Lot, Wal Mart & Downtown Lake Wales within 5 mins. * 1 hr to Orlando & Tampa. * Privately owned. No short sale, bank or foreclosure.
Partially tenant occupied; with full occupancy this investment property will gross an 11% ROI. Mobile home next to apartment complex included in sale and is tenant occupied at this time, it is a 3BR/1BA. Apartment building includes 4 units; one is 2BR/1BA, the other three are 1BR/1BA. Shed structure behind the apartment complex is also included in the sale.
Marcus & Millichap is pleased to present a two property portfolio in the Historic District of Lake Wales, Florida. The portfolio consists The Court of Seven Chimneys, a 21 unit apartment building and Grand Floridian Court, a 10 unit apartment building. The properties are located just a half a mile away from each other. The Court of Seven Chimneys was originally built in 1925 with wood-frame construction and consists of 20 studio style apartments and a single one-bedroom unit with a loft. The property was completely renovated in 2005 including new roofs, new kitchens, and more. Tenant's enjoy amenities such as private screened-in porches, a nice brick courtyard, beautiful hardwood floors, an on site laundry facility, a social area with picnic tables, and a secure environment with dusk-to-dawn lighting and security cameras. This property features a unique upside opportunity through passing on certain expenses to the tenants.