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    Lake Wales, FL
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    Lake Wales, FL Residential Income Properties for Sale

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    Historic Multifamily Investment Opportunity
    Updated: Nov 26, 2025
    Historic Multifamily Investment Opportunity

    428 E Johnson Ave, Lake Wales, FL 33853

    $550,000
    4,408 sqft
    Six spacious 1‑bedroom / 1‑bathroom units totaling 4,408 SF.
    Value‑add potential through further renovations to maximize rental income.
    Located in the heart of Lake Wales, close to historic downtown, shopping, dining, cultural attractions, parks, and schools.
    Generous 0.52‑acre lot zoned R‑1B.
    Historic multifamily property constructed in 1928 with preserved architectural details and historic charm.
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    This listing looks promising.

    Here's a quick look at some key insights for

    428 E Johnson Ave, Lake Wales, FL 33853

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    • Est. Cap Rate

      7.6%
      Above avg (5.9%)

    • Est. NOI

      $42K
      Annual

    • Price @ 7% Cap

      $596K
      Above asking

    • Property Type

      Single Family Residence
      Built 1928
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    11-Unit Multifamily Building
    Updated: Mar 20
    11-Unit Multifamily Building

    315 RIDGE MANOR Drive, Lake Wales, FL 33853

    $759,000
    5,030 sqft 0.79 AC lot
    All 11 units are currently occupied with long‑term leases in place
    R‑2 zoned multifamily on a 0.79‑acre lot
    5,030 square feet of building area
    Recent improvements: new roof and new septic drainfield
    Built in 1926 with stucco and frame construction
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    Medical Office with 13 Parking Spaces
    Medical Office with 13 Parking Spaces

    441 S 11TH Street, Lake Wales, FL 33853

    $1,150,000
    3,310 sqft 0.72 AC lot

    Medical office suite on a highly visible corner lot across from AdventHealth Lake Wales, with 13 designated parking spaces.

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    Duplex with Patio
    Duplex with Patio

    2526 ELM AVE, Lake Wales, FL 33898

    $320,000
    1,736 sqft 0.30 AC lot

    Duplex on a 0.3-acre lot with central air, electric heat, a patio, and public water service.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Quadplex with Four 2BR Units
    Quadplex with Four 2BR Units

    3108 - 3110 - 3112 - 3114 HOLLY Street, Lake Wales, FL 33898

    $579,999
    1,457 sqft 0.23 AC lot

    R-3 zoned quadplex with four two-bedroom, one-bath units and ductless heating with window and wall units.

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    Historic Brick Apartment Building
    Historic Brick Apartment Building

    244 E PARK Avenue, Lake Wales, FL 33853

    $1,650,000
    8,480 sqft 0.12 AC lot

    Zoned C-1 with two commercial suites and four apartments in a 1915 brick building.

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    Duplex with Screened Terrace
    Duplex with Screened Terrace

    3228 COURTNEY Drive, Lake Wales, FL 33898

    $299,000
    2,046 sqft 0.51 AC lot

    Duplex on a 0.51-acre lot with two 2-bedroom, 2-bath units, screened terrace, and central HVAC.

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    Lakefront 6-Unit Income Property
    Lakefront 6-Unit Income Property

    1854 Highland Park Drive S #A-F, Lake Wales, FL 33898

    Contact for pricing
    4,264 sqft 1.00 AC lot

    Lakefront 6-unit property on one acre in Highland Park.

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    Duplex with Balcony Under Construction
    Duplex with Balcony Under Construction

    315 DORSETT Avenue, Lake Wales, FL 33853

    $380,000
    1,672 sqft 0.15 AC lot

    Under-construction duplex zoned IND with block construction, natural gas heat, central air, and a balcony.

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    Lakefront Six-Unit Apartment Building
    Lakefront Six-Unit Apartment Building

    1854 HIGHLAND PARK Drive S, Lake Wales, FL 33898

    $799,000
    4,264 sqft 0.99 AC lot

    Lakefront six-unit property zoned R-2 with long-term leases in place and a private lot on Lake Easy.

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    26-Unit Multifamily Apartment Portfolio
    26-Unit Multifamily Apartment Portfolio

    3618 North Scenic Highway, Lake Wales, FL 33898

    Contact for pricing
    13,235 sqft

    Two communities total 26 units across from each other, with well and septic servicing all residences.

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    RV Lot in 55+ Community
    RV Lot in 55+ Community

    7350 MIDWAY Lane, Lake Wales, FL 33898

    $47,500
    0.06 AC lot

    RV lot in a 55+ community with a paved RV pad, storage shed, and public water and sewer services.

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    Big Rig-Friendly RV Corner Lot
    Big Rig-Friendly RV Corner Lot

    219 E APPALOOSA Trl, River Ranch, FL 33867

    $195,000
    0.13 AC lot

    Oversized corner lot at River Ranch RV Resort with upgraded utilities and a custom concrete patio for outdoor entertaining.

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    Historic Lake Wales Mixed-Use Building
    Historic Lake Wales Mixed-Use Building

    244 E PARK Avenue, Lake Wales, FL 33853

    Contact for pricing
    8,480 sqft

    Historic mixed-use building with commercial suites and residential apartments.

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    Remodeled Duplex with Expansion Potential
    Remodeled Duplex with Expansion Potential

    627 Washington avenue, Lake Wales, FL 33853

    Contact for pricing
    5,662 sqft

    Completely remodeled corner duplex with two 2-bedroom, 1-bath apartments, private laundry, and fenced patio areas.

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    Deeded RV Lot in Gated Resort
    Deeded RV Lot in Gated Resort

    124 STALLION LANE, Lake Wales, FL 33867

    $134,999
    0.06 AC lot

    Deeded 0.06-acre RV lot within a gated resort community featuring resort-style amenities.

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    Multifamily Property with Strong Rental Appeal
    Multifamily Property with Strong Rental Appeal

    315 Ridge Manor Dr, Lake Wales, FL 33853

    Contact for pricing
    5,030 sqft

    Eleven-unit multifamily property with long-term leases and convenient location.

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    19-Unit Multifamily Portfolio Package
    19-Unit Multifamily Portfolio Package

    116 E NORTHSIDE DRIVE, Lake Wales, FL 33853

    $2,450,000
    2,448 sqft

    Portfolio includes three apartment properties totaling 19 units across Lake Wales and Winter Haven, Florida, with several utilities sub-metered.

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    Deeded RV Lot in Resort
    Deeded RV Lot in Resort

    171 APPALOOSA Trl, River Ranch, FL 33867

    $145,000

    Deeded RV lot in River Ranch RV Resort with a shaded seating area and walkable access to resort amenities.

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    RV Resort Lot with Outdoor Living
    RV Resort Lot with Outdoor Living

    145 HORSESHOE Bnd, River Ranch, FL 33867

    $155,000

    Oversized Phase 2 RV resort lot with a stamped concrete pad, built-out deck, fireplace gathering space, and storage shed.

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    Corner RV Lot with Hardscaping
    Corner RV Lot with Hardscaping

    185 APPALOOSA TRAIL, River Ranch, FL 33867

    $155,000

    Move-in-ready corner RV lot with landscaped garden area, paver hardscaping, and outdoor living setup in an RV resort.

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    Four-Unit Rental Property
    Four-Unit Rental Property

    1021 COHASSETT Ave, Lake Wales, FL 33853

    $397,000

    Quadplex-style rental property with four income-producing units, with tenants paying their own electric and water.

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    RV Resort Lot with RV Pad
    RV Resort Lot with RV Pad

    233 STALLION Ln, River Ranch, FL 33867

    $148,000

    Corner lot with a stamped concrete RV pad and full-size storage shed in an amenity-rich RV resort community.

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    Deeded RV Lot in Resort
    Deeded RV Lot in Resort

    71 CEDAR Cir E, Lake Wales, FL 33898

    $195,000

    Deeded RV lot with all-inclusive HOA and on-site management, offering a low-touch way to own in a amenity-rich resort community.

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    Lake Wales, FL Residential Income Properties Market Trends and Statistics

    Explore 60 residential income properties for sale in Lake Wales, FL, showcased through 39 active listings on our real estate platform. These investment opportunities span a total of 73,539 square feet of properties for sale, with an estimated market value of $12,951,051.

    Sale prices for residential income properties in Lake Wales, FL start at $47,500, averaging $392,456, and reaching up to $2,450,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Multifamily properties 84
    Mobile home & RV parks 59
    Apartment buildings 13
    Duplexes 6
    Quadplexes 2

    Demographics Overview

    Population 43K
    Population Growth (5Y) -17.6%
    Median Household Income $52,183
    College Educated 33.0%

    High-Yield Neighborhoods for Investment

    Identify Lake Wales submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    River Ranch $141K
    Lake Wales $324.3K

    Taxes & Financing

    Tax Rate (average for all types) 1.68%
    Property Tax per SF $27.09 per SF
    Tax Rate vs County Average 0.11 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Polk County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Polk County

    Residential Income

    Property Size Breakdown

    The majority of commercial real estate listings in Lake Wales fall within the 100,000+ square foot range.

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    Most Searched ZIP Codes in Lake Wales, FL

    • 33898
    • 33853
    • 33867
    • 33859

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