Blue Lake Terrace is an established single-residential neighborhood in Lake Wales, Polk County, in the Blue Lake area on the Lake Wales Ridge (neighborhood listing guides, 2026). Listing profiles describe it as a small community of well-established, modest homes near the lake rather than a large planned subdivision.
Third-party listing guides describe the homes as generally built in the mid 1950s, with compact floor plans commonly cited in the range of roughly 860 to 960 square feet and two to three bedrooms (neighborhoods.com and city-data neighborhood profiles, 2026). Confirm the exact year built, the square footage, the bedroom and bathroom count, and any additions or updates for any specific home, since older stock varies widely house to house.
Because this is older single-family stock, the money is made or lost on the individual home and its lot, not on the address. The drivers are the condition, the roof and systems age, the renovation upside, and the lot itself, all of which have to be read per address from an inspection and the permit history rather than from a neighborhood average.
The pitch is an entry-price address in central Florida: Lake Wales sits on the Lake Wales Ridge near Bok Tower Gardens, roughly between Tampa and Orlando along US 27 and State Road 60, with downtown Lake Wales and Blue Lake close by. The work is the diligence: read the condition, price the renovation, and verify the lot and flood picture before you buy.
