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Courtesy of LIFESTYLE INTERNATIONAL REALTY {attribution_contact}
Description
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!
Property Details and Features
Building
- Living Area Meters: 268.40
- Room Count: 8
- Building Area Total: 3353
- Building Area Units: Square Feet
- Construction Materials: “Cement Siding”, “Stucco”
- Direction Faces: East
- Levels: “Two”
- Living Area: 2889
- Stories Total: 2
- Year Built: 1938
Listing
- Available For Lease
- Existing Lease Tenant
- Minimum Lease: No Minimum
- Calculated List Price By Calculated Sq Ft: $329
Lot
- Lot Size Square Meters: 1300
- Total Acreage: 1/4 to less than 1/2
- 0.32 acres
- 13996 square feet
Property Access
- Road Surface: “Paved”
Appliances & Equipment
- Appliances: “Convection Oven”, “Cooktop”, “Dishwasher”, “Disposal”, “Dryer”, “Electric Water Heater”, “Microwave”, “Range”, “Range Hood”, “Refrigerator”, “Washer”
Bathrooms
- 4 full bathrooms
Bedrooms
- Bedrooms Total: 5
Cooling
- Cooling: “Central Air”, “Wall/Window Unit(s)”
Exterior Features
- Exterior Features: “Awning(s)”, “Courtyard”, “Lighting”
Floors
- Flooring: “Carpet”, “Terrazzo”, “Tile”, “Wood”
Foundation
- Foundation Details: “Slab”
Heating
- Heating: “Central”, “Electric”
Interior Features
- Interior Features: “Accessibility Features”, “Ceiling Fans(s)”, “Primary Downstairs”, “Thermostat”
Laundry
- Laundry Features: “Common Area”, “Electric Dryer Hookup”, “Outside”, “Washer Hookup”
Location
- County or Parish: Orange
- Subdivision: JACOB A HOLLENBECKS SUB
- Township: 23
Parking
- Carport Spaces: 2
Property
- Zoning: R-3A/T/SP
Roof
- Roof: “Other”, “Shingle”
Schools
- High School: Boone High
Sewer
- Sewer: “Public Sewer”
Utilities
- Utilities: “BB/HS Internet Available”, “Cable Available”, “Electricity Available”, “Electricity Connected”, “Phone Available”
- Water Source: “Public”
This content last updated on May 16, 2024 19:36. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.