Beds: 16 Bath: 8 SqFt: 5,200
Take Over Cap Rate: 7.1% ProForma Cap Rate: 9.7%
Current Gross Rent: $5,660 Market Rent: $7,200
Repairs: Light – Cosmetic ARV: $855k
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Off Market Multifamily in Hot Orlando Zip Code 32809. This property has 4 block duplexes that sit on .42 acres, each unit is a 2 bedroom 1 bath with 650 sqft all built from 1963 to 1968. Property has a lot of long term tenants who are on month to month paying below market rent, rents vary between $700-$715 per month. Roofs replaced in 2004, Newer AC units. Buyer has opportunity to make some interior cosmetic upgrades and push the rents to $900/mo. The 2/1 condos in Las Palmas at Sand Lake Rent for $920-$950. Owner pays for water and trash each is $200/mo. Owner also has value add opportunity to bill back water and increase the NOI. City Water & City Sewer. Taxes $6,053 a year and Insurance approx $3000/yr. This will be the best addition to your portfolio for 2019. Buy at a 7 CAP, hold for 1 year and 1 day and Sell or Refinance at a 7.5 CAP for $855k. Don’t Miss Out, Act Now. Call Me Now To Purchase.