1814 Hollenbeck Dr, ORLANDO, FL
$950,000
5
Beds
4
Baths
2,889
Square feet
0.32
Acres
About 1814 Hollenbeck Dr
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!
Features of 1814 Hollenbeck Dr
MLS® # | S5103857 |
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Price | $950,000 |
Bedrooms | 5 |
Bathrooms | 4.00 |
Full Baths | 4 |
Square Footage | 2,889 |
Acres | 0.32 |
Year Built | 1938 |
Type | Residential |
Sub-Type | Single Family Residence |
Status | Active |
Community Information
Address | 1814 Hollenbeck Dr |
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Area | Orlando/Delaney Park/Crystal Lake |
Subdivision | JACOB A HOLLENBECKS SUB |
City | ORLANDO |
County | Orange |
State | FL |
Zip Code | 32806 |
Amenities
Is Waterfront | No |
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Has Pool | No |
Interior
Interior Features | Accessibility Features, Ceiling Fans(s), Primary Bedroom Main Floor, Thermostat |
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Appliances | Convection Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Range Hood, Refrigerator, Washer |
Heating | Central, Electric |
Cooling | Central Air, Wall/Window Unit(s) |
Fireplace | Yes |
# of Stories | 2 |
Exterior
Exterior Features | Awning(s), Courtyard, Lighting |
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Roof | Other, Shingle |
Foundation | Slab |
School Information
High | Boone High |
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Taxes & HOA Fees
Taxes | $8,313 |
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HOA Fee | $0 |
Additional Information
Date Listed | April 25th, 2024 |
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Days on Market | 12 |
Zoning | R-3A/T/SP |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Office | LIFESTYLE INTERNATIONAL REALTY |
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