$325,000
$399,900
18.7%For more information regarding the value of a property, please contact us for a free consultation.
3,481 SqFt
SOLD DATE : 06/11/2021
Key Details
Sold Price $325,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,481 sqft
Price per Sqft $93
Subdivision A Rep Of A Pt Of Lts 1 & 2 Watts Farms
MLS Listing ID O5941143
Sold Date 06/11/21
HOA Y/N No
Year Built 1973
Annual Tax Amount $423
Lot Size 6,534 Sqft
Acres 0.15
Property Description
Ideally located between Winter Park Rd and Tuskawilla Blvd. is an amazing opportunity to own 5 manufactured homes on 4 parcels in desirable Casselberry. Currently, each unit is tenant-occupied on month-to-month leases, with each unit bringing in around $800 a month. The properties have been self-managed with long-term tenants. With some light updating, there is room to increase rents to $950-$1000 a month, making the pro forma a massive 10%+ return. Finding a near-turnkey rental opportunity in Casselberry right now is practically impossible. This investment works great as either a flip or a rental. There's also the possibility of replacing the mobiles with larger models or building small single-family homes as the zoning appears to allow both mobile homes or site-built homes. Two of the lots back up to a small pond and are .13 acres & .17 acres. The other two parcels are .23 acres & .15 acres. New construction homes are being built on .14 acres and larger. on Newer model, manufactured homes are selling in the 150k-200k range, and new single-family homes are selling quickly at 275k plus. You won't find an opportunity like this anywhere else.
Location
State FL
County Seminole
Community A Rep Of A Pt Of Lts 1 & 2 Watts Farms
Zoning RMH-8
Interior
Heating Wall Units / Window Unit
Cooling Central Air, Wall/Window Unit(s)
Exterior
Utilities Available Public
View Y/N 1
Roof Type Other
Building
Foundation Crawlspace
Lot Size Range 0 to less than 1/4
Sewer Public Sewer
Water Public
Structure Type Metal Frame
New Construction false
Others
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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Bought with EQUITYPRO LLC