646 Beverly Drive, Lake Wales South, FL 33853
- $275,000
- 4
- BD
- 2
- BA
- 1,782
- SqFt
- List Price
- $275,000
- MLS#
- L4965085
- Type
- Single Family Residential
- Property Style
- Half Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Living Area
- 1,782
- Lot Size
- 11,173
- Subdivision
- Ridge Manor
- Year Built
- 1983
Property Description
Virtually Staged. INVESTMENT OPPORTUNITY in Lake Wales! This well-constructed brick duplex presents an excellent opportunity to acquire an income-producing property with additional value-add potential. The property consists of two spacious 2-bedroom, 1-bath units, each offering an oversized driveway for ample off-street parking and access to a fenced-in backyard. The durable brick construction and solid foundation provide a strong starting point for continued ownership and improvement. Several significant updates have already been completed. Unit 648 features an AC system, water heater, and luxury vinyl plank flooring installed approximately two years ago. The property was also updated with new plumbing approximately two and a half years ago, and the septic tank and drain field were replaced approximately four and a half years ago. One unit is currently rented, while the second unit is vacant and provides an opportunity for an investor to renovate, lease, and increase overall income potential. With approximately $30,000 in potential annual rental income when fully occupied, this property offers the opportunity to combine existing rental income with future upside through strategic improvements. Located in Lake Wales, the property provides convenient access to local shopping, dining, schools, parks, and major roadways, making it a practical location for both residents and rental tenants. A solid opportunity for an investor seeking a two-unit property with established improvements and room to add value.
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Additional Information
- Community Features
- No Deed Restriction
- Exterior Construction
- Block, Stucco
- Style
- One Story
- Interior
- Ceiling Fans(s), Living Room/Dining Room Combo, Open Floorplan, Split Bedroom
- Interior Features
- Ceiling Fans(s), Living Room/Dining Room Combo, Open Floorplan, Split Bedroom
- Appliances
- Range, Refrigerator
- Exterior
- Lighting, Private Entrance, Private Mailbox, Rain Gutters, Sidewalk
- Roof
- Shingle
- Utilities
- Electricity Connected, Water Connected
- Garage
- Driveway
- Floor
- Carpet
- Heating
- Central
- Cooling
- Central Air
- Pool Type
- No Pool
Listing courtesy of KELLER WILLIAMS REALTY SMART 1.
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