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    FOR SALE
    Commercial real estate

    315 Ridge Manor Dr Lake Wales, FL 33853

    4,670 SF Built 1926
    Property ID
    US19-0252840
    315 Ridge Manor Dr, Lake Wales, FL 33853 For Sale 1 / 89
    $775,000 4,670 SF
    315 Ridge Manor Dr, Lake Wales, FL 33853
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    Property summary
    AI-generated overview

    This exceptional 11-unit apartment building located at 315 Ridge Manor Dr, Lake Wales, FL 33853, presents a compelling investment opportunity. The property boasts a total of 4,670 square feet and is priced at $875,000, translating to a price per square foot of $187.37 and a price per unit of $79,545.45. Built in 1926, the building offers a diverse unit mix including seven studios, three one-bedroom, one-bathroom units, and one two-bedroom, one-bathroom unit. Convenience is enhanced by an on-site coin laundry facility. Recent improvements include a newly replaced roof, significantly reducing future maintenance concerns. The property's current cap rate stands at 6.96%, with an estimated 26% rental upside potential, indicating significant room for increased profitability. Situated in Polk County, Florida, this property benefits from a desirable location and strong rental demand. This is a rare opportunity to acquire a well-maintained multifamily property with substantial upside potential in a growing market. Financial records and further details are available upon request. This property is being offered as-is.

    Property profile
    Verified
    Property type Commercial real estate
    Year built 1926
    Total area 4,670 SF
    UPID US19-0252840
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • We Elderly Care Retirement Community Nursing Home
    1 occupant on record
    Value estimations
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    Owner & transaction history
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    Permitted uses
    Permitted uses
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