447 N SHINE AVE ORLANDO, 32803

0 Bedroom, 2,578 Sqft,

  • 2,578 Sq Ft
  • 0
MLS: #O5571557
$850,000
Rate This Property:

Description

RARE INVESTMENT opportunity in the highly sought after DOWNTOWN Orlando neighborhood - Colonialtown South. This STUNNING, historic, 1925 classic Spanish Colonial, excellent income producing property is situated on a corner lot, directly across the street from the YMCA. This is a 4-PLEX with 2 completely separate 2 bed/1 bath homes and a separate building with 2 additional 1 bed/1 bath apartments. Each unit has their own PRIVATE outdoor space, which is rare! All units have been beautifully renovated. The 2/1 unit upgrades include: granite countertops, travertine floors, high-end stainless steel appliances, on-demand hot water heaters, double pane energy efficient windows, just to name a few. The owners haven't missed a detail when renovating and maintaining this property. Current market rent yields $5, 450/month for all 4 units. Annual income is $65, 400 with a 7.7% cap rate. The two 1/1's are below market value and will increase $100/month each at end of September, raising the cap rate to 8%. The property has multiple rental applicants the same day the 'For Rent' sign hits the yard. There's NO HOA and there is on site and off site parking. Downtown living at it's best - all within a short stroll to everything downtown has to offer! Own a piece of Orlando history and generate income at the same time! Don't miss this investor's dream! Call today for your private showing!

Property Features

  • Property Type: Residential Income
  • Approx Living Area SqFt: 2,578
  • Year Built: 1925
  • Exterior Description: Fenced, French Doors, Storage
  • Appliances: Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
  • Cooling System: Central Air
  • Heating Fuel: Central
  • Utility Information: BB/HS Internet Available, Cable Available, Public
  • Flooring: Ceramic Tile, Travertine, Wood
  • Pets Allowed: 0
  • County: Orange
  • Subdivision: SMEDLEYS REP
  • Association: None
  • Age Restricted: 0
  • Annual Property Taxes: $6,426
  • Gross Operating Income: $65,400
  • Security Deposit: 0
Listing courtesy of MAINFRAME REAL ESTATE
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