Description
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The selling price includes 12 units plus a 3-bedroom house. Lake Wales is a growing city in central Florida.
Fully renovated property & ready to sell.
– **Total Monthly Expenses**: Approximately $2,344.67
– **Property Tax**: $8,431.76 annually
– **Average Monthly Income**: $15,846.04
– **Rental Income Updates**:
– **Studio (just remodeled)**: $1,350/month (new tenant moving in soon)
– **House Conversion**: Three 1 or 2-bedroom efficiencies with kitchenettes at $1,500 each (two tenants waiting)
– **Total Additional Rent**: $5,850/month (available in 1-2 months)
– **Total Monthly Average Income**: $21,696.04
– Total projected income with new tenants included.
– **NOI
$223,784.68
-We put a new roof on the motel and the house, 2024
-New a/c with heaters
-New beds, box spring
-New smart TVs
-New microwaves
-New front door, new windows
-All new drywall, insulation, electric in room, new vinyl flooring, complete new bathroom, tile fixtures and toilet, lighted mirror fog control
-Property is completely fenced
The well we added a new water softener system, and new holding tank and a chlorinator
-The lake was cleared out for guests
-Outside of the motel is new stucco, and the front of the motel has new Hardie board
-Front windows have new storefronts and a front door.
-Keyless entry, easy to run business remotely, locks run on application
-The office has a laundry for personal owner use
-There is a laundry we added which we charge $15 a week for the guest unlimited use. Adds additional income
-The back area has a sitting area, and BBQ, swings, and games. Area to fish in the lake
-cameras with recording all over the property
If you have any questions, please contact the Vip Commercial Team Fl @ 407-453–3415 immediately.
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