* * TRIPLEX | $60,000+ POTENTIAL ANNUAL INCOME | HOUSE-HACKING OPPORTUNITY * * Great investment opportunity in Umatilla! This versatile * * triplex * * offers the potential for * * over $60,000 in annual gross rental income * * , while also providing an excellent opportunity for an owner-occupant to house hack. The property features * * three separate units * * , creating multiple income streams under one roof. The * * 1-bedroom unit can be delivered vacant * * , allowing the new owner to move in and live on-site while renting the other two units to help offset their mortgage and expenses. For investors, the property offers the potential to generate * * $60,000+ in gross annual rental income * * . For owner-occupants, the ability to occupy the 1-bedroom unit while collecting rent from the other units creates an attractive path toward significantly reducing the cost of homeownership. Located in Umatilla, this property offers a convenient residential setting with easy access to local shopping, dining, schools, parks, and surrounding Lake County communities. * * Three units. Multiple income streams. $60,000+ potential gross income. And the flexibility to house hack. * * Whether you're looking to expand your rental portfolio or live in one unit while the property helps pay for itself, * * 16025 Wallace St is an opportunity you won't want to miss. * *
Multi-familyProperty Type
1966Year Built
0.37 acresLot Size
$142Price/Sq.Ft.
Listed by Ricardo Adames• LA ROSA REALTY CW PROPERTIES L
INVESTOR SPECIAL! Fixer-upper in Umatilla in need of a full renovation. The property consists of a 1961 single-family home and a 1966 duplex. The two buildings were connected in 1998 with a "game room". Since then, the property has been partially reconfigured by the previous owner who was attempting to turn it into one large single-family house. There are currently 3 bedrooms and 1 full bath in the 1,557 sq. ft. original house, 1 bedroom and 0 baths in the 851 sq. ft. "game room", and 3 bedrooms and 1 full bath in the 1,104 sq. ft. duplex. The two original bathrooms in the duplex were combined into a single bathroom by the previous owner. There are 2 wells on the property, but one of them is not working and the previous owner connected everything to the other well. There is one large septic tank on the property that the previous owner says was replaced relatively recently. The roof was replaced in 2018. There are two electric meters, one for the original house, and one for the original duplex. This property needs a lot of TLC, but it has great potential for an experienced investor. Cash offers only. Property will not qualify for financing due to condition.
Stellar MLS as Distributed by MLS Grid #G5054634
Apr 28, 2022
Listing Removed
—
Public Records
Oct 7, 2021
Sold
$135,000
$38/sq ft
Stellar MLS as Distributed by MLS Grid #G4678967
Nov 9, 2012
Sold
$75,000
$21/sq ft
Dec 12, 2011
Listed
$69,900
$20/sq ft
Public Records
Apr 26, 1996
Sold
$19,700
$6/sq ft
Public Records
Mar 16, 1994
Sold
$22,000
$6/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$5,584 (+36.3%)
$45,000 + $253,775
$298,775
2024
$4,096 (+13.4%)
$18,000 + $171,799
$189,799
2023
$3,612 (+7.6%)
$18,000 + $166,068
$184,068
2022
$3,356 (+55.6%)
$18,000 + $166,068
$184,068
2021
$2,157 (−4.1%)
2020
$2,250 (+0.6%)
2019
$2,237 (+4.1%)
2018
$2,149 (+7.5%)
2017
$1,999 (−0.2%)
2016
$2,004 (−1.0%)
2015
$2,025
2014
$2,024 (+5.3%)
2013
$1,923 (+45.2%)
2012
$1,324
Public record
Public record
Zoning
Beds
3
Baths
2
Stories
1
Lot width
—
Lot depth
—
Lot size
0.37 Acres
Year renovated
1986
Finished Sq. Ft.
1,104
Unfinished Sq. Ft.
—
Total Sq. Ft.
1,104
Year built
1966
Style
Single Family Residential
County
Lake County
APN
26-18-26-0500-001-01000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 23, 2026.
R-6
Urban Residential District
The purpose of this district is to provide for medium Density single-family residential and multifamily housing usage in the Urban Future Land Use Category.
Permitted uses
Include but are not limited to:
Housing-Single unit
Housing-Multiple units
Housing-Other
Infrastructure
Fire house
Police station
Recreation
Park & open space
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
5/10 Fire Factor
5% chance of being in a wildfire in next 30 years
8/10 Heat Factor
7 days above 108° expected this year, 21 days in 30 years
9/10 Wind Factor
99% chance of strong winds in next 30 years
2/10 Air Factor
1 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Umatilla, FL • 32784
Average low and high temperatures (°F)
67
44
74
51
80
57
85
61
90
69
91
73
92
74
91
75
88
71
82
64
78
56
73
51
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
81/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
8.3 hrs
6.4 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 16025 Wallace St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $323,490 and $500,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $323K to $500K.