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Sold for $225,000
  • $225,000

    627 WASHINGTON AVE #1, LAKE WALES, FL 33853

    4beds
    2baths
    1,152sqft
    Duplex, Multi Family
    Built in 1966
    -- sqft lot
    $210,700 Zestimate®
    $195/sqft
    $1,468 Estimated rent

    Home value

    $210,700

    $185,000 - $236,000

    $1,468/mo

    Zestimate® history
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    $1,468/mo

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    $1,585/mo

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    What's special

    Secure income streamLong-term leases
    Introducing 627 Washington Ave, a lucrative investment opportunity in the tranquil city of Lake Wales, FL. This duplex, complete with long-term leases, offers a steady, reliable source of income. Each unit within this well-preserved duplex offers a comfortable layout of 2 bedrooms and 1 bathroom, providing ample space for tenants to create a home. These units' solid construction and thoughtful design reflect a commitment to comfort and quality that tenants will surely appreciate. One unit is rented at a competitive rate of $1095 per month to long-term tenants, underlining the property's desirability and the stability of the income stream. As an investor, you'll appreciate the immediate cash flow and the peace of mind that comes from reliable, long-term tenants. Situated in the charming city of Lake Wales, this property places tenants in a quiet, welcoming neighborhood with convenient access to local amenities, schools, and parks. The ease of commuting from this location further enhances the appeal of these units to prospective tenants. At 627 Washington Ave, you're not just investing in a duplex, but a secure income stream and a slice of Lake Wales' vibrant community. Whether you're an experienced investor looking to expand your portfolio or a new investor seeking a reliable investment, this property is a testament to the enduring value of real estate in Lake Wales. Don't let this opportunity pass you by.

    Zillow last checked:

    Listing updated:

    Listed by:

    Tyler Gibson LLC 407-392-1800,

    EXP REALTY LLC 407-392-1800

    Bought with:

    Carlos Matos, 540375

    TRANSCONTINENTAL REALTY GROUP,

    Source: Stellar MLS,MLS#: O6114961MLS LogoOriginating MLS: Orlando Regional

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 4
    • Bathrooms: 2
    Heating
    • Central
    Cooling
    • Central Air
    Features
    • None
    • Flooring: Vinyl
    • Has fireplace: No
    Interior area
    • Total structure area: 1,824
    • Total interior livable area: 1,152 sqft

    Property

    Parking
    • Total spaces: 2
    • Parking features: Carport
    • Carport spaces: 2
    Features
    • Levels: One
    • Stories: 1
    • Exterior features: Other
    Lot
    • Size: 5,776 Square Feet
    Details
    • Parcel number: 272934872500007010
    • Zoning: MULTI FAMILTY
    • Special conditions: None

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Duplex, Multi Family
    Materials
    • Block
    • Foundation: Slab
    • Roof: Membrane
    Condition
    • New construction: No
    • Year built: 1966

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Public

    Community & HOA

    Community
    • Pet fee: $0 monthly
    • Subdivision: WASHINGTON PARK UNIT NO 2
    HOA
    • Has HOA: No
    Location
    • Region: Lake Wales

    Financial & listing details

    • Price per square foot: $195/sqft
    • Tax assessed value: $201,960
    • Annual tax amount: $2,029
    • Date on market: 5/30/2023
    • Cumulative days on market: 16 days
    • Listing terms: Cash,Conventional
    • Ownership: Fee Simple
    • Lease term: 12 Months
    • Total actual rent: 2190
    • Road surface type: Asphalt

    Price history

    DateEventPrice
    5/1/2025Sold$225,000+12.5%$195/sqft
    Source: Public Record Report a problem
    12/1/2023Sold$200,000-7%$174/sqft
    Source: Stellar MLS #O6114961 Report a problem
    11/18/2023Pending sale$215,000$187/sqft
    Source: Stellar MLS #O6114961 Report a problem
    11/11/2023Price change$215,000-4%$187/sqft
    Source: Stellar MLS #O6114961 Report a problem
    10/3/2023Pending sale$224,000$194/sqft
    Source: Stellar MLS #O6114961 Report a problem
    9/27/2023Listed for sale$224,000$194/sqft
    Source: Stellar MLS #O6114961 Report a problem
    9/19/2023Pending sale$224,000$194/sqft
    Source: Stellar MLS #O6114961 Report a problem
    9/15/2023Listed for sale$224,000$194/sqft
    Source: Stellar MLS #O6114961 Report a problem
    5/31/2023Pending sale$224,000+80.6%$194/sqft
    Source: Stellar MLS #O6114961 Report a problem
    5/4/2021Sold$124,000$108/sqft
    Source: Public Record Report a problem
    3/16/2021Pending sale$124,000$108/sqft
    Source: Stellar MLS #T3289005 Report a problem
    3/14/2021Price change$124,000+13.8%$108/sqft
    Source: Stellar MLS #T3289005 Report a problem
    2/10/2021Pending sale$109,000$95/sqft
    Source: Stellar MLS #T3289005 Report a problem
    2/5/2021Listed for sale$109,000+179.5%$95/sqft
    Source: Stellar MLS #T3289005 Report a problem
    12/29/2020Sold$39,000$34/sqft
    Source: Public Record Report a problem

    Public tax history

    YearProperty taxesTax assessment
    2025$4,070 -5.4%$201,960 -10%
    2024$4,301 +71.6%$224,400 +120.2%
    2023$2,507 +43.9%$101,911 +10%
    2022$1,742 +17%$92,646 +22.9%
    2021$1,489 +165.2%$75,388 +167.1%
    2020$562 -5.7%$28,222 -3%
    2019$595 -32.6%$29,104 +0.9%
    2018$883 -0.4%$28,854 -0.5%
    2017$887 +49.1%$28,986 +3.5%
    2016$595 +3.9%$28,000 +5.9%
    2015$572 -7.8%$26,436 -6.8%
    2014$621 -10.3%$28,360 -4.2%
    2013$692 -6%$29,594 -4.6%
    2012$737 -6.8%$31,010 -10%
    2011$790 -11.3%$34,468 -12.7%
    2010$891 -28.2%$39,482 -22.7%
    2009$1,241 $51,044
    2007-- --
    2006$968 --
    2005-- --
    2004$427 +6.8%--
    2003$400 +1.9%$30,660 -1.4%
    2002$392 +78.1%$31,080 +78.1%
    2001$220 $17,454
    Find assessor info on the county website

    Neighborhood: 33853

    Nearby schools

    GreatSchools rating
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    Estimated market value
    $210,700
    Get a cash offer in 3 minutes
    Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
    Estimated market value
    $210,700