Date
Details
Price
Change
Source
5/20/2025
Sold
$2,075,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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Property Description
22-unit multifamily property located at 401 Domaris Avenue in Lake Wales, Florida. Built in 1970, the property spans 16,754 square feet across 1.46 acres, offering investors an attractive opportunity with consistent income and value-add potential in a growing Central Florida market. The unit mix includes a single 3 bed 1 bath unit, nine 2 bed 1 bath units, and twelve 1 bed 1 bath units, catering to a diverse tenant base. All units are equipped with central AC, and the buildings feature block construction with flat roofs on slab foundations. The property has undergone recent capital improvements, including a new roof installed less than two years ago, renovated electrical and plumbing systems, and a common area washer and dryer available for tenant use, enhancing both functionality and tenant satisfaction. Utilities are structured with separately metered electricity paid by tenants, while the landlord covers city water, city sewer, and trash services. Strategically located in Polk County, just minutes from Lake Wales' downtown, parks, and employers, Wedgewood Apartments is positioned for long-term rental demand. With current rents below market and clean operational history, investors have the opportunity to increase value through organic rent growth and light cosmetic upgrades.
Full Property Details
Full Property Details for 401 Domaris Ave
General
- Sold For: $2,075,000
- Taxes: $17,985 (2024)
- Status: Closed
- Type: Multi-Family
- Source: MidFloridaRegionalMLS
- MLS ID: J989192
- Added to Site: 243 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 22
Bedrooms
- Total Bedrooms: 33
Exterior
- Exterior Features: Courtyard
Location
- Area: 33853 - Lake Wales South
- County: Polk
- Development Name: 33853 - Lake Wales South
- Subdivision: COLONIAL HEIGHTS RESUB
- Driving Directions: Head east bound on State Rd 60. Take a right on S 4th St, property will be on your left.
Community
- Community Name: 33853 - Lake Wales South
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Central, Electric
Utilities
- Sewer: Public Sewer
- Water: Public
- Utility Description: Electricity Connected, Sewer Connected, Water Connected
Structural Information
- # Buildings: 4
- Exterior Const.: Concrete
- Roof: Membrane
- Square Feet: 16,754
- Sq. Ft. Source: Public Records
- Living Area: 16,754 Sq. Ft.
- Year Built: 1970
Lot Features
- Lot Size (Acres): 1.46
- Lot Size (Sq. Ft.): 63,754
- Lot Size: 1.4636
Financial Considerations
- Tax Amount: $17,985.82
- Tax Year: 2024
Disclosures and Reports
- Ownership: Fee Simple
- Special Conditions: None
- Legal Description: RESUB OF PART OF COLONIAL HTS PB 30 PG 3 LOT A BEG SW COR RUN N 252.5 FT N 67 DEG 59 MIN 49 SEC E 21.84 FT S 84 DEG 48 MIN 37 SEC E 100.5 FT N 89 DEG 28 MIN 45 SEC E 160 FT S 11 DEG 53 MIN 15 SEC W 38 FT S 59 DEG 28 MIN 45 SEC W 30 FT S 179 FT S 12 D EG 03 MIN 28 SEC E 20 FT S 89 DEG 28 MIN 45 SEC W 250 FT TO POB
- Flood Zone Info: X
- APN: 273011917510001030
- Property ID: 273011917510001030
Listed by Stellar Non-Member Office
Sold by Florida Realty Investments and Olympus Executive Realty Inc
Listing agent
— 401 Domaris Ave —
Stellar Non-Member Office
NMLS#: 1598647Get Pre-Approved Today
Schools
Schools serving 401 Domaris Ave
School District:Polk County School District
| Name | Grades | Distance |
|---|---|---|
Ben Hill Griffin Jr Elementary School 501 McLeod Road, Frostproof, FL 33843 | PK-5 | 9.3 mi |
Mclaughlin Middle School And Fine Arts Academy 800 South 4th Street, Lake Wales, FL 33853 | 6-8 | 0.3 mi |
Frostproof Middle/Senior High School 1000 North Palm Avenue, Frostproof, FL 33843 | 6-8 | 9.6 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 401 Domaris Ave
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- Lots/Land
- Active
- Updated 4 days ago
- 0.21Acres
Listed by Westlake Real Estate Co., Inc.
- Single Family
- Active
- Updated 3 days ago
- 3Beds
- 2Total Baths
- 1,798Sq. Ft.
Listed by Heartland Real Estate Co.
- Lots/Land
- Active
- Updated 2 days ago
- 0.21Acres
Listed by Town & Country Real Estate
- Single Family
- Active
- Updated 5 days ago
- 3Beds
- 2Total Baths
- 1,368Sq. Ft.
Listed by Diligence Llc
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- Single Family
- Active
- Updated 5 days ago
- 4Beds
- 3Total Baths
- 2,130Sq. Ft.
Listed by The Realty Experience Powered By Lrr
- Single Family
- Active
- Updated 3 days ago
- 3Beds
- 2Total Baths
- 1,563Sq. Ft.
- Single Family
- Active
- Updated 3 days ago
- 4Beds
- 2Total Baths
- 1,879Sq. Ft.
Listed by Re/Max Select Group
- Single Family
- Active
- Updated 5 days ago
- 4Beds
- 3Total Baths
- 2,130Sq. Ft.
Listed by The Realty Experience Powered By Lrr
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- Multi-Family
- Closed
- 19Units
- 0.3Acres
Listed by Florida Realty Investments
Sold by Century 21 Myers Realty
Sold by Century 21 Myers Realty
401 Domaris Avenue, Lake Wales, FL 33853 (MLS# J989192) is a Multi-Family property that was sold at $2,075,000 on May 20, 2025. Want to learn more about 401 Domaris Avenue? Do you have questions about finding other Multi-Family real estate for sale in Lake Wales? You can browse all Lake Wales real estate or contact a Coldwell Banker agent to request more information.