315 RIDGE MANOR DRIVE, Lake Wales, FL 33853
Quadruplex - LAKE WALES, FL
- Added:
- Mar 20, 2026
- Days on Market:
- 100
- Last Refresh:
- Jun 27 at 1:06 pm
Property Features for 315 RIDGE MANOR DRIVE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Zoning
- R-2
- Bedrooms
- 6
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Interior features
- Window Treatments
- Exterior features
- Storage
- Fireplace
- 1
- Standard status
- Active
- APN
- 27-30-11-916000-011040
- Size
- 5,030 SF
- Lot size
- 0.79 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 9928
Utilities
- Heating system
- Electric (Heating), Fireplace(s), Space Heater
- Cooling system
- Multi Units, Wall/Window Unit(s), Window Unit(s)
Building Details
- Year built
- 1926
- Number of units
- 11
- Building materials
- Frame, Stucco
- Roof type
- Shingle
- Architectural style
- Other
- Additional Structures
- Storage
Listing agent Dolores Vogel License #621090 (863) 632-5573
Listing office LEGACY REAL ESTATE CENTER INC 218 East Park Avenue, Lake Wales, FL (863) 676-0200
Listing date Mar 20, 2026
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 11‑unit multifamily property with all 11 units currently occupied and long‑term leases in place
- Recent improvements include a new roof and a new septic drainfield
- Built in 1926 with frame and stucco construction and a shingle roof
- Multiple heating options including electric heat and fireplace(s)
- Cooling includes wall/window unit(s) and window unit(s)
- Interior features include window treatments; exterior includes storage
Overview
Located at 315 Ridge Manor Drive in Lake Wales, Florida, the property sits on 0.79 acres and is zoned R-2. Public remarks note convenient access to schools, shopping, medical facilities, and major travel routes, including Hwy 27 and SR 60, supporting straightforward north/south and east/west commuting.
For investors or owner-operators seeking an income-producing residential asset, the fully occupied status and existing lease structure can align with strategies focused on minimizing near-term downtime. The combination of recent roofing and septic system improvements may also reduce near-term capital concerns. Private showings are available by appointment.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $92.4k | $18.36 |
| − Vacancy | −$5.7k | −$1.14 |
| EGI | $86.6k | $17.22 |
| − OpEx | −$39.0k | −$7.75 |
| NOI | $47.6k | $9.47 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lake Wales
- County
- Polk
- State
- Florida
- Longitude
- -81.58503
- Latitude
- 27.88577
