1814 HOLLENBECK DRIVE ORLANDO FL 32806 MLS #S5103857

1814 HOLLENBECK DRIVE
ORLANDO, FL, 32806
$950,000
5 Beds
4 Baths
2,889 SqFt
0.32 Acres
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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 Details

Price:
$950,000
MLS #:
S5103857
Status:
Active
Beds:
5
Baths:
4
Address:
1814 HOLLENBECK DRIVE
Type:
Single Family
Subtype:
Single Family Residence
Subdivision:
JACOB A HOLLENBECKS SUB
City:
ORLANDO
Listed Date:
Apr 25, 2024
State:
FL
Finished Sq Ft:
2,889
ZIP:
32806
Lot Size:
13,996 sqft / 0.32 acres (approx)
Year Built:
1938
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Schools

High School:
Boone High

Interior

Appliances
Convection Oven, Cooktop, Dishwasher, Disposal, Dryer, Electric Water Heater, Microwave, Range, Range Hood, Refrigerator, Washer
Bathrooms
4 Full Bathrooms
Cooling
Central Air, Wall/ Window Unit(s)
Flooring
Carpet, Terrazzo, Tile, Hardwood
Heating
Central, Electric
Laundry Features
Common Area, Electric Dryer Hookup, Outside, Washer Hookup

Exterior

Construction Materials
Cement Siding, Stucco
Exterior Features
Awning(s), Courtyard, Lighting
Roof
Other, Shingle

Financial

Buyer Agent Compensation
2.5%%
Tax Year
2023
Taxes
$8,313

Map

Community

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1814 HOLLENBECK DRIVE
ORLANDO, FL