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Sold for $750,000 on 10/03/24
  • $750,000

    1814 Hollenbeck Dr, Orlando, FL 32806

    5beds
    2,889sqft
    Single Family Residence
    Built in 1938
    0.32 Acres Lot
    $733,700 Zestimate®
    $260/sqft
    $2,611 Estimated rent

    What's special

    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!

    Zillow last checked: 7 hours ago

    Listing updated: October 07, 2024 at 03:52pm

    Listing Provided by:

    Ron Fallows, III 321-460-4445,

    LIFESTYLE INTERNATIONAL REALTY 305-809-8085

    Bought with:

    Ron Fallows, III, 3527776

    LIFESTYLE INTERNATIONAL REALTY

    Source: Stellar MLS,MLS#: S5103857MLS LogoOriginating MLS: Osceola

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 5
    • Bathrooms: 4
    • Full bathrooms: 4
    Primary bedroom
    • Features: Walk-In Closet(s)
    • Level: First
    • Dimensions: 13x16
    Bedroom 2
    • Features: Built-in Closet
    • Level: First
    • Dimensions: 13x9.8
    Bedroom 3
    • Features: Built-in Closet
    • Level: First
    • Dimensions: 11.8x10.11
    Dining room
    • Level: First
    • Dimensions: 15.5x12
    Family room
    • Level: First
    • Dimensions: 14x19.6
    Kitchen
    • Level: First
    Kitchen
    • Level: First
    • Dimensions: 14x15.5
    Living room
    • Level: First
    • Dimensions: 13.5x18.9
    Heating
    • Central, Electric
    Cooling
    • Central Air, Wall/Window Unit(s)
    Appliances
    • Included: Convection Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Range Hood, Refrigerator, Washer
    • Laundry: Common Area, Electric Dryer Hookup, Outside, Washer Hookup
    Features
    • Accessibility Features, Ceiling Fan(s), Primary Bedroom Main Floor, Thermostat
    • Flooring: Carpet, Terrazzo, Tile, Hardwood
    • Has fireplace: Yes
    Interior area
    • Total structure area: 3,353
    • Total interior livable area: 2,889 sqft

    Property

    Parking
    • Total spaces: 2
    • Parking features: Carport
    • Carport spaces: 2
    Features
    • Levels: Two
    • Stories: 2
    • Exterior features: Awning(s), Courtyard, Lighting
    Lot
    • Size: 0.32 Acres
    Details
    • Parcel number: 012329368802040
    • Zoning: R-3A/T/SP
    • Special conditions: None

    Construction

    Type & style
    • Home type: SingleFamily
    • Property subtype: Single Family Residence
    Materials
    • Cement Siding, Stucco
    • Foundation: Slab
    • Roof: Other,Shingle
    Condition
    • New construction: No
    • Year built: 1938

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: BB/HS Internet Available, Cable Available, Electricity Available, Electricity Connected, Phone Available

    Community & neighborhood

    Location
    • Region: Orlando
    • Subdivision: JACOB A HOLLENBECKS SUB

    HOA & financial

    HOA
    • Has HOA: No
    Other fees
    • Pet fee: $0 monthly
    Other financial information
    • Total actual rent: 48000

    Other

    Other facts
    • Listing terms: Cash,Conventional,Trade,FHA,Owner May Carry,VA Loan
    • Ownership: Fee Simple
    • Road surface type: Paved
    Services availability
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    Estimated market value

    $733,700