Active
1814 HOLLENBECK DR
ORLANDO FL, 32806
$950,000
$328.83 per sqft
Active
5 Beds
4 Baths
2,889 sqft
Residential
Built in 1938
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!
S5103857
MLSⓇ ID
April 18, 2024
Listed
April 29, 2024
Updated
Map
1814 HOLLENBECK DR
ORLANDO FL, 32806
Interior Features
Total Stories
2
Bedrooms
5
Total Bathrooms
4
Interior Features
Accessibility Features, Ceiling Fans(s), Primary Bedroom Main Floor, Thermostat
Appliances
Convection Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Range Hood, Refrigerator, Washer
Laundry Description
Common Area, Electric Dryer Hookup, Outside, Washer Hookup
Floor Description
Carpet, Terrazzo, Tile, Wood
Fireplace
Yes
Cooling
Yes
Cooling Description
Central Air, Wall/Window Unit(s)
Heating
Yes
Heating Description
Central, Electric
Exterior/Building Features
Lot Size
0.32 Acres
Exterior Features
Awning(s), Courtyard, Lighting
Roof
Other, Shingle
Sewer
Public Sewer
School Information
High School
Boone High
Other Property Details
Area Name
32806 - Orlando/Delaney Park/Crystal Lake
Taxes
$8,313
Tax Frequency
Annually
Days on Market
3
Garage
No
View
No
County
Orange
Municipality
23
Water Source
Public
Pool
No
Zoning
R-3A/T/SP
Buyer Agency Compensation
2.5%
Listed by Ronald Fallows, III, with LIFESTYLE INTERNATIONAL REALTY
Listing Contact: 305-809-8085
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Data last updated 4/29/2024, 9:36 AM UTC