For more information on this property,
contact Mark Ramey at 407-956-6165 or team@themarkrameygroup.com
436
E
Park Avenue,
Lake Wales,
Florida
FL
33853-1802
Sold For: $1,568,000
Listing ID K4901954
Status Closed
Sold Date 7/03/2023
Bedrooms 21
Total Baths 21
SqFt 11,834
Acres 0.330
Subdivision Lake Wales
Year Built 1925
Property Description:
IT’S ALL ABOUT THE LOCATION! We are pleased to present this phenomenal investment opportunity to acquire The Court of Seven Chimneys Apartments. This unique and fully rented apartment complex comprises 21 apartments, court yard, laundry facility and a parking lot. There are 20 Studio Apts. with original hardwood flooring, coved ceilings, picture rail molding, Murphy Beds, fireplaces (nonworking), separate eat-in kitchens, closet/storage area and French doors to front & back screen rooms. A spacious loft apartment is above the rotunda entry into the court yard, it is flanked by the dual wings of the building. The Loft apartment allows for formal living area adorned with wood floor, window seats, fireplace, walk-in closet, full bath and circular stairs to an upstairs bedroom with large area, ideal for sitting area and storage. These delightful dwellings offer abundant natural light, elegant details while still serving renters and providing comfortable living quarters. This beloved 1925 building stands across from the Crystal Lake Park offering scenic views of the lake, garden paths, picnic areas and playground. Pathways lead across Lakeshore Blvd. to the city park on Lake Wailes that has paved & lighted trail circling the lake and a large covered pier to enjoy, a public boat ramp is nearby. Additionally, this in-town location is within walking/biking/scootering to the downtown Historic District, library, churches, restaurants, and shops. This multi-unit complex is ideal for Investors, Vacation Rental Operator for short-term destination retreat, long-term renters or winter residents. Seller will entertain a combined purchase with 10-unit complex just minutes away, The Grand Floridian at, 241 E Seminole Ave. ***NO OWNER FINANCING***
Primary Features
County:
Polk
Property Sub Type:
Multi-Family
Property Type:
Residential Income
Subdivision:
Lake Wales
Year Built:
1925
Zoning:
C
Interior
Building Area Units:
Square Feet
Cooling Type:
Wall/Window Unit(s)
Fireplace:
no
Flooring:
Ceramic Tile, Laminate, Wood
Heating Type:
Wall Units / Window Unit
Interior Features:
Cathedral Ceiling(s), Ceiling Fans(s), Eat-in Kitchen, High Ceilings, Solid Wood Cabinets, Walk-In Closet(s), Window Treatments
Laundry Features:
Other
Levels:
Two
Living Area Meters:
1099.41
Living Area Source:
Public Records
Living Area Units:
Square Feet
External
Additional Water Information:
Close proximity with sidewalks to either lake, dock & covered pier at Lake Wailes, public boat ramp is a short distance.
Carport:
no
Construction Materials:
Other, Stucco
Exterior Features:
Balcony, Courtyard, Lighting, Sidewalk
Foundation Details:
Crawlspace
Garage:
no
Homestead:
no
Lot Features:
Historic District, City Limits, Level, Near Public Transit, Oversized Lot, Sidewalk, Street One Way, Paved
Lot Size Dimensions:
97x150
Lot Size SqFt:
14549
Lot Size Square Meters:
1352
Number Of Units Total:
21
Parking Features:
Ground Level, Open
Pool Private:
no
Road Responsibility:
Public Maintained Road
Road Surface Type:
Paved
Roof:
Shingle
Sewer:
Public Sewer
Total Acreage:
1/4 to less than 1/2
Total Number of Buildings:
1
Unit Count:
1
Utilities:
BB/HS Internet Available, Cable Available, Electricity Connected, Public, Sewer Connected, Street Lights, Water Connected
View Type:
Park/Greenbelt, Water
Water Access:
no
Water Extras:
no
Water Source:
Public
Water View:
no
Waterfront:
no
Window Features:
Aluminum Frames, Shutters, Wood Frames
Location
Association:
no
Community Development District:
no
Country:
US
Flood Zone Code:
x
MLS Area Major:
33853 - Lake Wales South
Number Of Lots:
2
Township:
30
Water Body Name:
CRYSTAL LAKE / LAKE WAILES
Financial
Annual Expenses:
72084
Annual Net Income:
125948.00
Current Price:
1568000.00
Gross Income:
198032
Lease Term:
Twelve Months
Listing Terms:
Cash, Conventional
Other Exemptions:
no
Ownership:
Fee Simple
Special Listing Conditions:
None
Tax Annual Amount:
11409.11
Tax Block:
34
Tax Book Number:
1-88A
Tax Lot:
1
Tax Year:
2021
Total Actual Rent:
16380
Total Monthly Expenses:
6007
Zoning Info
Listing information ©My Florida Regional MLS DBA Stellar MLS 2024. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase. All other use is strictly prohibited and may violate relevant federal and state law. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Properties displayed may be listed or sold by various participants in the MLS. Data last updated on Wednesday, April 17th, 2024 at 09:43:30 PM.
Contact - Listing ID K4901954
Mark Ramey
Orlando, FL 32819
Phone: 407-956-6165
Phone Alt: 407-421-9653
Data services provided by IDX Broker
