130 E Northside Drive, Lake Wales, FL 33853

$258,000

Virtual Tour

https://www.propertypanorama.com/130-E-Northside-Drive-Lake-Wales-FL-33853/unbranded

Property Type: Residential Income Square Footage: 1,831 Status: Active

Current Price: $258,000 List Date: 12/31/2025 Last Modified: 4/21/2026

Overview

Description

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

Listing Details MLS# R11150451

General Property Information

Number Of Units Total: 2
Property Sub Type: Duplex
Building Area Main: 1831
Building Area Source: Appraiser
Living Area Main: 1455
Year Built: 1938
Gated Community YN: No
Lot Size Area: 10197
Lot Size Acres: 0.23
Senior Community YN: No
Waterfront YN: Yes
Outdoor Living Spaces YN: Yes
Stories: Yes
Pool Private YN: No

Property Features

Documents Available: Copy Of Lease(s); Deposit - Security; None Electric: Three Phase Flooring: Wood Property Condition: Resale Tenant Pays: Cable TV; Electricity; Insurance; Water Source Of Expenses: Owner Provided Construction Materials: Other Cooling: Central Air Heating: Central; Electric Listing Terms: Cash; Conventional; FHA; VA Loan Possession: Close Of Escrow Restrictions: No Restrictions Roof: Other Storm Protection Details: None Tax Information: Other Exemption Utilities: Electricity Connected; Natural Gas Available View: Other Water View: Lake Waterfront Features: Lake Front Showing Requirements: 24 Hour Notice; Combination Lock Box; Occupied Occupant Details: Tenant Occupied Outdoor Living Spaces: Patio; Porch Patio Details: Patio - Covered Porch Details: Porch - Open Unit 1 Appliances: Dishwasher; Range; Refrigerator Unit 1 Parking Features: Open Parking Unit 1 Rooms: Kitchen Unit 2 Appliances: Range; Refrigerator Unit 2 Parking Features: Open Parking Acreage Description: Less Than 1/4 Acre Lot; Less Than 1 Acre Lot

Contract Information

Comp Sale YN: No
Original List Price: 260000
Negotiable Seller Concessions YN: Yes

Location and Legal

Country: United States
County Or Parish: Polk
County Parish Name: Polk
Street Number: 130
Street Direction Prefix: E
Street Name: Northside
Street Suffix: Drive
City Name: Lake Wales
State Or Province: FL
Postal Code: 33853
Postal Zip: 33853
Subdivision Name: NORTHSIDE HEIGHTS
Area: 5940 - Other Florida County
Geographic Area: Other
Elementary School: Lakeside
Middle Or Junior School: Lake Worth
High School: Lake Worth
Special Assessment YN: No
Parcel Number: 342927875300001120
Zoning: R3

Financial Information

Tax Annual Amount: 3631.09
Tax Year: 2025
Tax Legal Description: NORTHSIDE HEIGHTS PB 36 PG 48 BLK A LOT 12
Estimated Monthly Assoc Recurring Fee: 0

Status Change Information

Major Change Timestamp: 2026-02-25T10:50:07Z
Major Change Type: Price Reduced
Price Change Timestamp: 2026-02-25T10:50:07Z
Status Change Date: 2025-12-31

More Information

Meter Information

Separate Electric Meters YN: No
Separate Water Meters YN: No

Income and Expenses

Gross Income: 2400
Net Operating Income: 28800
Annual Total Expense: 0

Showing Details

Pet(s) on Premises: No

Unit 1 Details

Actual Rent: 2400
Baths Full: Yes
Efficiency YN: No
Furnished: Unfurnished
Hotel Room YN: No
SqFt: 916

Unit 2 Details

Actual Rent: 2400
Baths Full: Yes
Furnished: Unfurnished
SqFt: 915

Price Calculations

Current Price To SqFt: 177.31

Originating Details

Originating System Key: 20251231115034183212000000
Originating System ID: M00000170

Office/Member Information

DXORIGMLSID: RML

Electric

Three Phase: Yes

Flooring

Wood: Yes

Property Condition

Resale: Yes

Documents Available

Copy Of Lease(s): Yes
Deposit - Security: Yes
None: Yes

Tenant Pays

Cable TV: Yes
Electricity: Yes
Insurance: Yes
Water: Yes

Possession

Close Of Escrow: Yes

Utilities

Electricity Connected: Yes
Natural Gas Available: Yes

View

Other: Yes

Heating

Central: Yes
Electric: Yes

Water View

Lake: Yes

Construction Materials

Other: Yes

Listing Terms

Cash: Yes
Conventional: Yes
FHA: Yes
VA Loan: Yes

Roof

Other: Yes

Waterfront Features

Lake Front: Yes

Source Of Expenses

Owner Provided: Yes

Cooling

Central Air: Yes

Showing Requirements

24 Hour Notice: Yes
Combination Lock Box: Yes
Occupied: Yes

Restrictions

No Restrictions: Yes

Storm Protection Details

None: Yes

Tax Information

Other Exemption: Yes

Occupant Details

Tenant Occupied: Yes

Outdoor Living Spaces

Patio: Yes
Porch: Yes

Patio Details

Patio - Covered: Yes

Porch Details

Porch - Open: Yes

Unit 1 Appliances

Dishwasher: Yes
Range: Yes
Refrigerator: Yes

Unit 1 Parking Features

Open Parking: Yes

Unit 1 Patio/Porch

Patio/Porch: Yes

Unit 1 Rooms

Kitchen: Yes

Unit 2 Appliances

Range: Yes
Refrigerator: Yes

Unit 2 Parking Features

Open Parking: Yes

Unit 2 Patio/Porch

Patio/Porch: Yes

Acreage Description

Less Than 1/4 Acre Lot: Yes
Less Than 1 Acre Lot: Yes

Listing Office: Simon Gray Realty LLC

Last Updated: April - 21 - 2026

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130 E Northside Drive, Lake Wales, FL 33853 (MLS# R11150451)