Residential Property - Single Family Residence in Orlando
Listing Price: $950,000
Description of Property
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 At A Glance
Property Type: Residential
Property Use or Sub Type: Single Family Residence
City: Orlando
County: Orange
Subdivision: Jacob A Hollenbecks Sub
Bedrooms: 5
Bathrooms: 4
Sq. Ft. Gross: 3,353
Sq. Ft. Living Area: 2,889
Cost per (heated) sqare foot: $329
Year built: 1938
Annual Tax: $8,313
Taxes and fees can change periodically, and other fees may apply. Please check with your Realtor for more details.
Interior Features:
- Accessibility Features
- Ceiling Fan(s)
- Primary Bedroom Main Floor
- Thermostat
Appliances:
- Convection Oven
- Cooktop
- Dishwasher
- Disposal
- Dryer
- Electric Water Heater
- Microwave
- Range
- Range Hood
- Refrigerator
- Washer
Accessibility Features:
Fireplace: Yes
Fireplace Features:
Window Features:
Additional Rooms:
Ceiling Type:
Flooring:
- Carpet
- Terrazzo
- Tile
- Hardwood
Laundry Features:
- Common Area
- Electric Dryer Hookup
- Outside
- Washer Hookup
Schools
High School: Boone High
Pool & Waterfront Info
Private Pool: Not specified
Pool Features:
Spa Features:
Water Frontage:
Water Access: Not specified
Water Access Type:
Water View:
Exterior & Construction
Architectural Style:
Construction: Cement Siding, Stucco
Foundation: Slab
Roof: Other, Shingle
- Awning(s)
- Courtyard
- Lighting
Carport: Yes
Carport Spaces: 2
Parking Features:
Floors Total: 2
Floors in Unit: Two
Cooling: Central Air, Wall/Window Unit(s)
Heating & Fuel: Central, Electric
Electric:
Patio & Porch Features:
Security Features:
Other Structures:
View:
Fencing:
Utilities:
- BB/HS Internet Available
- Cable Available
- Electricity Available
- Electricity Connected
- Phone Available
Sewer: Public Sewer
Water Source: Public
Community Features:
Association Amenities:
Lot Information
Lot Features:
Lot Size (acres): 0.32
Lot Size (sq. ft.): 13,996 square feet
Front Exposure: East
Adjoining Property:
Current Adjacent Use:
Legal Description & Other Information
Financing Available: Cash, Conventional, Trade, FHA, Owner May Carry, VA Loan
Parcel Number: 012329368802040
Zoning: R-3A/T/SP
Tax Legal Desc.: JACOB A HOLLENBECKS SUB G/12 LOTS 4 & 5BLK B
Listing courtesy of LIFESTYLE INTERNATIONAL REALTY. The information relating to real estate for sale on this website comes in part from the My Florida Regional MLS DBA Stellar MLS. This information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.