1814 Hollenbeck Drive Orlando, FL 32806
Under contract-accepting backup offers. 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 TypeSingle Family Home
- NeighborhoodJacob A Hollenbecks Sub
- CountyOrange
- Taxes$8,313
- HOA/Condo/Coop Fees$0
- Days on Site43 Days
- MLS StatusPending
- MLS ID NumberS5103857
- Home Size Source Owner
- Year Built1938
- Lot Size0.32 Acres
- Full Baths4
- Partial BathsN/A
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General Features
- Construction Cement SidingStucco
- Sewer Public Sewer
- Number of Stories 2
- Acreage 0.32
- Water Public
- Property Sub Type Single Family Residence
- Utilities Cable AvailableElectricity AvailableElectricity ConnectedPhone Available
- Foundation Slab
- Zoning R-3A/T/SP
- Direction Faces East
- Minimum Lease No Minimum
- Ownership Fee Simple
- Parcel Number 01-23-29-3688-02-040
Interior Features
- Cooling Central AirWall/ Window Unit(s)
- Heating CentralElectric
- Appliances Convection OvenCooktopDishwasherDisposalDryerElectric Water HeaterMicrowaveRangeRange HoodRefrigeratorWasher
- Flooring CarpetTerrazzoTileWood
- Interior Accessibility FeaturesCeiling Fans(s)Primary Bedroom Main FloorThermostat
- Laundry Features Common AreaElectric Dryer HookupOutsideWasher Hookup
- Fireplace Yes
Exterior Features
- Roof OtherShingle
- Waterfront Property No
- Exterior Awning(s)CourtyardLighting
Community Features
- Township 23
- Senior Community No
- MLS Area 32806 - Orlando/Delaney Park/Crystal Lake