1814 Hollenbeck Drive, Orlando, FL 32806
- $750,000
- 5
- BD
- 4
- BA
- 2,889
- SqFt
- Sold Price
- $750,000
- List Price
- $950,000
- Status
- Sold
- Days on Market
- 53
- Closing Date
- Oct 03, 2024
- MLS#
- S5103857
- Property Style
- Single Family
- Year Built
- 1938
- Bedrooms
- 5
- Bathrooms
- 4
- Living Area
- 2,889
- Lot Size
- 13,996
- Acres
- 0.32
- Total Acreage
- 1/4 to less than 1/2
- Legal Subdivision Name
- Jacob A Hollenbecks Sub
- MLS Area Major
- Orlando/Delaney Park/Crystal Lake
Property 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!
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Additional Information
- Taxes
- $8313
- Minimum Lease
- No Minimum
- Community Features
- No Deed Restriction
- Property Description
- Two Story
- Zoning
- R-3A/T/SP
- Interior Layout
- Accessibility Features, Ceiling Fans(s), Primary Bedroom Main Floor, Thermostat
- Interior Features
- Accessibility Features, Ceiling Fans(s), Primary Bedroom Main Floor, Thermostat
- Floor
- Carpet, Terrazzo, Tile, Wood
- Appliances
- Convection Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Range Hood, Refrigerator, Washer
- Utilities
- BB/HS Internet Available, Cable Available, Electricity Available, Electricity Connected, Phone Available
- Heating
- Central, Electric
- Air Conditioning
- Central Air, Wall/Window Unit(s)
- Exterior Construction
- Cement Siding, Stucco
- Exterior Features
- Awning(s), Courtyard, Lighting
- Roof
- Other, Shingle
- Foundation
- Slab
- Pool
- No Pool
- Garage Carport
- 2 Car Carport
- High School
- Boone High
- Flood Zone Code
- X
- Parcel ID
- 01-23-29-3688-02-040
- Legal Description
- JACOB A HOLLENBECKS SUB G/12 LOTS 4 & 5BLK B
Listing courtesy of LIFESTYLE INTERNATIONAL REALTY. 305-809-8085
Selling Office: LIFESTYLE INTERNATIONAL REALTY.Mortgage Calculator
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