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2409 WINSTON AVE Orlando, FL 32810
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Key Details
Sold Price $290,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 1,349 sqft
Price per Sqft $214
Subdivision Fairview Gardens
MLS Listing ID T3476589
Sold Date 01/29/24
Bedrooms 3
Full Baths 3
Construction Status Financing
HOA Y/N No
Originating Board Stellar MLS
Year Built 1948
Annual Tax Amount $1,633
Lot Size 0.290 Acres
Acres 0.29
Property Description
Rare turnkey, already cash flowing asset in the quietest corner of Lake Fairview! The landlord’s retirement offers you the unique chance to snatch up this approved triplex, boasting three high quality 1/1 units, at a hard to come by 8.4% cap rate as-is.
Pros: All units currently rented on 1 year leases, with never a day of vacancy in the last 5 years. Separate meters and water heaters per unit. Separate kitchen with fridge/oven for each. Property has been professionally maintained, with service records available. New roof in 2017, with transferable warranty. Units A & B fully remodeled 5 years ago, Unit C fully remodeled last month.
Cons: No central air. Separate window AC units per unit (Unit A & B 5 years old, Unit C 1 year old). Water heater ages unknown for Unit A & B, 1 year old for Unit C. A few windows are difficult to open and might need replacement, but nothing broken.
Investor notes:
Current LTR rental gross: 33,300 /yr, but two long-term residents at less than market rate. Market rate rent in current condition: $36,000 /yr, with a waiting list for occupancy. Tenants pay own utilities, except for water. Current expenses: $5,000 /yr for maintenance, water, insurance, lawncare and taxes.
No HOA/CDD. Feel free to soft pitch offers to listing agent before writing anything up. No assignable contracts accepted. Seller financing possible with a very large downpayment. Unit C is temporarily vacant until 11/1 for renovations and on a lockbox. Easy to show.
Location
State FL
County Orange
Community Fairview Gardens
Zoning R-2
Interior
Interior Features Ceiling Fans(s), Kitchen/Family Room Combo, Open Floorplan
Heating Other
Cooling Wall/Window Unit(s)
Flooring Carpet, Laminate, Vinyl
Fireplace false
Appliance Electric Water Heater, Range, Refrigerator
Exterior
Exterior Feature Lighting
Parking Features Common, None
Fence Chain Link
Utilities Available BB/HS Internet Available, Cable Connected, Electricity Connected, Phone Available, Sewer Connected, Water Connected
Roof Type Shingle
Porch Front Porch, Screened
Garage false
Private Pool No
Building
Entry Level One
Foundation Crawlspace
Lot Size Range 1/4 to less than 1/2
Sewer Septic Tank
Water Public
Structure Type Block
New Construction false
Construction Status Financing
Others
Pets Allowed Breed Restrictions, Yes
Senior Community No
Ownership Fee Simple
Acceptable Financing Cash, Conventional, Private Financing Available
Listing Terms Cash, Conventional, Private Financing Available
Special Listing Condition None
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© 2024 My Florida Regional MLS DBA Stellar MLS. All Rights Reserved.
Bought with TRIDENT REALTY