Historic Multifamily Building

Investment Overview

Lee & Associates presents an exceptional investment opportunity at 428 E Johnson Ave, Lake Wales, FL 33853. This historic two-story multifamily property, constructed in 1928, spans 4,408 square feet and is situated on a generous 0.52-acre lot. The building comprises six units, each featuring one bedroom and one bathroom, offering a total of six bedrooms and six bathrooms. Recent renovations have been initiated, providing a solid foundation for further enhancements to maximize rental income potential. ​ Located in the heart of Lake Wales, this property benefits from its proximity to local amenities and attractions. The area boasts a diverse demographic, with a population of approximately 16,455 residents and a median age of 43.1 years. The community offers a blend of cultural and recreational activities, making it an attractive location for potential tenants.

Investment Highlights

• Value-Add Potential! Historic multifamily investment property
• Six spacious 1-bedroom / 1-bathroom units totaling 4,408 SF total SF
• Constructed in 1928 with preserved architectural details and historic charm
• Recent renovations started, offering value-add potential!
• Situated on lush 0.52 acre parcel zoned R-1B
• Located in a vibrant community with diverse demographics​
• Strong demand for well-maintained Multifamily Rentals in the area
• Close to Historic Downtown District shopping, dining, cultural attractions
• Nearby many local amenities, parks, schools, and recreational facilities
• Ideal for investors seeking value-add opportunities