Iconic Wilsonian Building on Lake
183 Lake Morton Dr, Lakeland, FL 33801
Historic 16-unit multifamily property in downtown Lakeland, Florida.
Type:SPEC-OTH
Lot size:
0.56 Acres- Added:
- Feb 12, 2026
- Days on Market:
- 100
- Last Refresh:
- Apr 3 at 4:53 am
Property Features for 183 Lake Morton Dr
General Information
- Standard status
- Active
- Lot size
- 0.56 Acres
- Property subtype
- SPEC-OTH
Listing agent Eric Ammon License #BK620314 (863) 272-7135
Listing office SVN | Saunders Ralston Dantzler (863) 272-7135
Listing date Feb 12, 2026
Source Realnex
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of SVN | Saunders Ralston Dantzler
HighLights
- Prime downtown Lakeland location on Lake Morton, a high‑traffic recreational area
- Includes the iconic Wilsonian Building (16 units) and an adjacent duplex (2 units)
- Significant income potential: current income $106,740 annually, with a proforma income potential of $300,000+ annually
- Zoned O‑1, City of Lakeland, offering flexibility for various uses
- All units have individual electric meters and central HVAC
- Ample parking available in the rear of the Wilsonian Building
Overview
The iconic Wilsonian Building, constructed in 1922 and designed by B.C. Bonfoey, is located on Lake Morton in downtown Lakeland. The property is situated in the center of Lakeland’s vibrant downtown area, along the city’s heavily traveled walking and recreational areas. Zoned O-1, City of Lakeland, the building is divided into two wings, each containing 8 apartments with 4 units per floor. The unit mix includes eight studios with a den and one bathroom, and eight one-bedroom units with a den and one bathroom. Stairways are located on the east and west sides of the building. Cosmetic and structural upgrades would benefit the building. The sale includes the adjacent property at 120 E. Palmetto St, a former two-story single-family home converted into a duplex, featuring two 2-bedroom, 1-bath units. The duplex is currently vacant. The property is within walking distance of downtown and Lake Hollingsworth. The Wilsonian has jalousie windows, original wood floors, some Murphy beds, and original layouts in each unit. Ample parking is available in the rear of the building, with carports in place. A revamp of the parking space would provide more efficiency. Only 6 tenants are on current leases, expiring between January 2026 and April 2026; all other tenants are on month-to-month leases. Each unit has its own electric meter and central HVAC. Water, sewer, and electric are provided by the City of Lakeland. The owner pays for water and sewer on one bill. 120 E Palmetto currently uses a septic tank. Lake Morton hosts the annual Mayfaire by the Lake Arts Fair every Mother's Day weekend.
Property Profile
Location Intelligence
Current Use by Public Records
Acave Tobacco
(Bike/Boat/Book/etc) Store
Location Insight
- Map
- Local Demand
- City
- Lakeland
- County
- Polk
- State
- Florida
- Longitude
- -81.955902
- Latitude
- 28.037024
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Historic 16-unit multifamily property in downtown Lakeland, Florida.
Where is this apartment building located?
The property is located at 183 Lake Morton Dr Lakeland, FL.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Prime downtown Lakeland location on Lake Morton, a high‑traffic recreational area; Includes the iconic Wilsonian Building (16 units) and an adjacent duplex (2 units); Significant income potential: current income $106,740 annually, with a proforma income potential of $300,000+ annually
