Historic Multifamily Building

For Sale

428 E Johnson Ave, Lake Wales, FL 33853

This Lake Wales property for sale is located at 428 E Johnson Ave. The general use of Historic Multifamily Building is multi-family and it incorporates 4,408 square feet of class C multi-family space. The current listed sale price for Historic Multifamily Building is $599,000. Historic Multifamily Building is situated on a lot that is 0.52 acre in size.

Contacts

broker
Michael Avendano

Lee & Associates South Florida

Property Details

  • Property Type Multi-Family
  • Property Size 4,408 SF
  • Units 1
  • Lot Size 0.52 Acre
  • Building Class C
  • Year Built 1928
  • Date Updated Mar 20, 2025
Nestled in Lake Wales, Florida, this property offers residents access to a community rich in history and culture. With a population of approximately 16,455 and a median age of 43.1, Lake Wales provides a welcoming environment for a diverse tenant base. The area features a variety of local amenities, including shopping centers, parks, and recreational facilities, enhancing the appeal of this investment opportunity.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.
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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

Getting around

  • 52/100

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  • 50/100

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Location

  • City Lake Wales, FL
  • Zip Code 33853
  • Market Tampa St Petersburg Clearwater

Points of Interest

  • Sunoco

    1.11 miles

  • RaceTrac

    1.43 miles

  • Shell

    1.49 miles

  • Murphy USA

    1.73 miles

  • Circle K

    3.93 miles

  • Citgo

    4.24 miles

  • Wawa

    4.63 miles

  • 7-Eleven

    7.31 miles

  • Crooked Lake Prairie Parking

    6.54 miles

  • Legoland Parking Lot

    8.97 miles

  • Grove Motel

    0.22 miles

  • Budget Inn

    0.43 miles

  • Seminole Hotel Apartments

    0.60 miles

  • Lagoon Inn Motel

    1.14 miles

  • Blue Star Lodge

    1.22 miles

  • Travel Inn

    1.30 miles

  • Lake Wales Inn

    1.30 miles

  • Towerview Motel

    1.71 miles

  • Hampton Inn & Suites

    3.96 miles

  • Holiday Inn Express Lake Wales N-Winter Haven

    5.02 miles

  • Publix

    0.59 miles

  • Save-A-Lot

    1.37 miles

  • Winn-Dixie

    1.54 miles

  • Walmart Supercenter

    1.84 miles

  • Eagle Ridge Mall

    4.32 miles

  • ALDI

    4.69 miles

  • Bealls

    8.95 miles

  • My Nature's Delight

    9.15 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Michael Avendano

Lee & Associates South Florida

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