Listed by Penny Dias of Simon Gray Realty LLC
This lakefront multi-family property in the heart of Lake Wales presents a rare opportunity for both savvy investors and future owner-occupants alike. Delivering an impressive ~about 8% cap rate with an all-cash purchase-and closer to about a 9% cap with just 20% down at today's prevailing rates-this is a strong income-producing asset with immediate upside. Even more compelling, for those looking to live in one unit, the numbers make ownership more affordable than renting, while the second unit helps offset your mortgage. The property offers two well-designed 2-bedroom, 1-bath units with open-concept living, generous outdoor space, and desirable lakefront appeal with no HOA. While a new roof is needed, the seller is offering a $10,000 concession with a full-price offer

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Property Details of 130 E Northside Drive

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Based on information submitted to BeachesMLS as of May 19, 2026 10:57 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

 
 

 

 

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