646 BEVERLY DR #646 and 648, LAKE WALES, FL, 33853
$275,000
Residential Income
|
Bedrooms
4
|
Bathrooms
2
|
Living Area
1,782 Sqft
|
Lot Size
11,173 Sqft
|
Virtually Staged. INVESTMENT OPPORTUNITY in Lake Wales! This well-constructed brick duplex presents an excellent opportunity to acquire an income-producing property with additional value-add potential. The property consists of two spacious 2-bedroom, 1-bath units, each offering an oversized driveway for ample off-street parking and access to a fenced-in backyard. The durable brick construction and solid foundation provide a strong starting point for continued ownership and improvement.
Several significant updates have already been completed. Unit 648 features an AC system, water heater, and luxury vinyl plank flooring installed approximately two years ago. The property was also updated with new plumbing approximately two and a half years ago, and the septic tank and drain field were replaced approximately four and a half years ago. One unit is currently rented, while the second unit is vacant and provides an opportunity for an investor to renovate, lease, and increase overall income potential.
With approximately $30,000 in potential annual rental income when fully occupied, this property offers the opportunity to combine existing rental income with future upside through strategic improvements. Located in Lake Wales, the property provides convenient access to local shopping, dining, schools, parks, and major roadways, making it a practical location for both residents and rental tenants. A solid opportunity for an investor seeking a two-unit property with established improvements and room to add value.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRL4965188 | Year Built: | 1983 | |
| Appliances: | Range, Refrigerator | Construction Materials: | Block, Stucco | |
| Cooling: | Central Air | Country: | US | |
| County Or Parish: | Polk | Exterior Features: | Fence, Lighting, Private Entrance, Private Mailbox, Private Yard, Rain Gutters, Sidewalk | |
| Flooring: | Carpet, Concrete | Foundation Details: | Slab | |
| Furnished: | Unfurnished | Heating: | Central, Electric | |
| Laundry Features: | Electric Dryer Hookup, In Kitchen, Laundry Closet, Washer Hookup | Levels: | One | |
| Listing Agreement: | Exclusive Right To Sell | Listing Terms: | Cash, Conventional, FHA, VA Loan | |
| Lot Features: | Landscaped | Occupant Type: | Tenant | |
| Other Equipment: | Private Entrance, Private Yard | Parking Features: | Driveway | |
| Patio And Porch Features: | Front Porch, Rear Porch | Pets Allowed: | Yes | |
| Property Sub Type: | Duplex | Property Type: | Residential Income | |
| Road Surface Type: | Asphalt, Paved | Roof: | Shingle | |
| Sewer: | Septic Tank | Showing Requirements: | ShowingTime | |
| Special Listing Conditions: | None | Standard Status: | Active | |
| State Or Province: | FL | Utilities: | Cable Available, Electricity Available, Public | |
| View: | Trees/Woods | Water Source: | Public | |
| Window Features: | Blinds, Window Treatments | |||
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