Brick Triplex with New
For Sale
$285,000
425 E Sessoms Ave, Lake Wales, FL 33853
Three-unit residential property with separate entrances, central AC, and detached storage with laundry facilities.
Property Size1,652 SF
Price / SF$172.52
Days on Market312
Property Features for 425 E Sessoms Ave
General Information
Standard status
Active
Size
1,652 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,877
Listing Agency:
BHHS FLORIDA PROPERTIES GROUP
(863) 701-2350
Listed By:
Wes Fleming · License #3525300
(863) 666-4136
Source:
Exprealty
Added: Dec 8, 2025
Changed: Oct 8
Last Checked: Oct 15 at 1:17AM
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 BHHS FLORIDA PROPERTIES GROUP
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Investment Insights
Based on property information with market context.
This triplex includes three separately configured residences across two brick residential buildings. The cottage at 425 E Sessoms Ave contains one bedroom, one bathroom, 685 square feet, a 90-square-foot finished screened porch, and a fireplace. The front portion of 427 E Sessoms Ave is a one-bedroom, one-bathroom suite with its own entrance and porch, while the rear portion is a private studio with a separate side or rear entrance. Both primary buildings have central AC.
A roof replacement was completed across the property in 2024. The 0.31-acre site also includes a detached storage building at the rear with an on-site laundry room. Total property size is 1,652 square feet, with common brick exterior walls throughout the residential buildings. The property is located at 425 E Sessoms Ave in Lake Wales, Florida.
A roof replacement was completed across the property in 2024. The 0.31-acre site also includes a detached storage building at the rear with an on-site laundry room. Total property size is 1,652 square feet, with common brick exterior walls throughout the residential buildings. The property is located at 425 E Sessoms Ave in Lake Wales, Florida.
Key Highlights
- 2024 roof installed across the property
- Triplex configuration with 3 separate residences
- 1,652‑square‑foot property on a 0.31‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,516
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$350,320
$350.3K
Cap Rate 7%
$250,229
$250.2K
Cap Rate 9%
$194,622
$194.6K
Market Conditions
NOI Build-Up for 1,652 SF
Gross rent
$26.8K $16.20/SF
− Vacancy
−$1.7K −$1.05/SF
EGI
$25.0K $15.15/SF
− OpEx
−$7.5K −$4.54/SF
NOI
$17.5K $10.60/SF
Area
Polk County, FL
Vacancy
6.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$350,320
Cap Rate 7%
$250,229
Cap Rate 9%
$194,622
Alternative Uses
Best Use
Multifamily LT 5
$250.2K
$219.0K – $291.9K
NOI $17,516 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$223.5K
$195.6K – $260.8K
NOI $15,648 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$397.0K
$347.4K – $463.2K
NOI $27,789 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
754
Businesses Nearby
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Business Placement
Demographics for 33853, FL
12,404
Population
5,483
Households
2.3
Avg Household Size
38
Median Age
19%
College-Educated
85%
High-School Grad
8.7 sq mi
ZIP Area
1,426
Density / Sq Mi
$40,938
Median Household Income
$35,470
Median Earnings
$965
Median Rent
$198,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with separate entrances, central AC, and detached storage with laundry facilities.
Where is this triplex located?
The property is located at 425 E Sessoms Ave Lake Wales, FL.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2024 roof installed across the property; Triplex configuration with 3 separate residences; 1,652‑square‑foot property on a 0.31‑acre lot
