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Welcome to your next investment opportunity just a block away from the Orlando Regional Medical Center. This property isn't just a residential home; it can be a cash flow machine with a lot of potential. Property Features: Mixed-Use Setup: Currently, the property consists of a residential home with an attached duplex, already occupied by tenants, offering immediate income potential. Multiple Entrances: The main house boasts convenient access points, including a front door, rear primary suite entrance, and outdoor stairs to the second floor, providing flexibility for rental configurations. Expansion Potential: With an additional 1000+ square feet upstairs, envision the possibility of creating extra rental units or expanding existing ones, enhancing revenue streams. Strategic Location: Situated on a generous 0.32-acre lot behind a commercial plaza, this property is a short drive from downtown Orlando, with easy access to major thoroughfares like I4 and mere minutes away from ORMC. Income Projection: Currently generating $4000/month, the property has the potential to yield up to $6000/month with updated rents and full occupancy, offering a gross yearly income of $72,000. Financial Benefits: With a renovated upstairs, the pro forma income could soar to $8600/month, resulting in a gross income of $103,000 and offering a solid 7% cap rate, factoring in expenses and full occupancy with long-term leases. Plus, switching to a short/medium-term rental strategy could substantially increase returns. Ample Parking: The expansive lot accommodates multiple vehicles, ensuring convenience for both residents and visitors. Unique Charm & Versatility: Beyond its financial appeal, this property exudes character and versatility: Double Lot Potential: With a double lot, the possibilities are endless, whether you choose to expand the existing structures or explore new development opportunities. Flexible Layout: The main home features three bedrooms, two baths, and a charming blend of oak and pine wood flooring. Additionally, an unfinished upstairs offers the potential to add 2-3 more rooms, catering to diverse tenant needs. Income-Generating Extras: From studio apartments to a functional office space and additional amenities like a washroom and storage areas, every inch of this property is primed for revenue generation. Seller Financing: For qualified buyers, seller financing is on the table, with favorable terms including a 40% down payment, a maximum 5-year balloon, and competitive interest rates. Explore Your Options Today: Don't miss out on this exceptional investment opportunity. Whether you're a seasoned investor or a newcomer to the real estate market, this property offers a myriad of options for maximizing returns. Schedule a viewing today and unlock the full potential of this prime Orlando gem!
| DAYS ON MARKET | 23 | LAST UPDATED | 4/25/2024 |
|---|---|---|---|
| TRACT | JACOB A HOLLENBECKS SUB | YEAR BUILT | 1938 |
| COMMUNITY | 32806 - Orlando/Delaney Park/Crystal Lake | COUNTY | Orange |
| STATUS | Active | PROPERTY TYPE(S) | Single Family |
| High School | Boone High |
|---|
| ADDITIONAL DETAILS | |
| AIR | Central Air, Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Convection Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Range Hood, Refrigerator, Washer |
| AREA | 32806 - Orlando/Delaney Park/Crystal Lake |
| BUYER'S BROKERAGE COMPENSATION | 2.5% |
| CONSTRUCTION | Cement Siding, Stucco |
| EXTERIOR | Awning(s), Courtyard, Lighting |
| HEAT | Central, Electric |
| LOT | 0.32 acre(s) |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | JACOB A HOLLENBECKS SUB |
| TAXES | 8313.33 |
| UTILITIES | Cable Available, Electricity Available, Electricity Connected, Phone Available |
| WATER | Public |
| ZONING | R-3A/T/SP |
MORTGAGE CALCULATOR
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Listing provided by Ronald Fallows, III, LIFESTYLE INTERNATIONAL REALTY, 305-809-8085
The information contained herein has been provided by My Florida Regional MLS DBA Stellar MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Listings last updated 5/11/24 2:20 AM PDT.
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