New Listing - 09/17/2024
1304 Altaloma AVENUE, Orlando, FL, 32803
8 beds
1962
3,100 sqft
***Do Not Disturb Tenants*** Value-Add Quadruplex in Prime Mills50 District! Investor’s dream in the heart of Orlando! Best zip code in Orlando! (Niche.com - 2024) This rare quadruplex, situated in the highly sought-after Mills50 District, offers a tremendous value-add opportunity with exceptional future potential. The property consists of two duplexes, each featuring 2 bedrooms and 1 bathroom. Three of the units have already been updated, providing immediate value, while still offering room to enhance the property's overall return. Located in the vibrant and centrally positioned Mills50 District, this property benefits from being at the nexus of Orlando's most dynamic neighborhoods. Just a stone’s throw away, you'll find yourself in the midst of the eclectic Ivanhoe Village, the lively Milk District, and the charming Audubon Park. Whether your tenants are young professionals, families, or students, they will appreciate the quick access to all the popular districts. The easy access to I-4 and the 408 Expressway ensures smooth connectivity to all that Central Florida has to offer. Currently, the units are rented below market value, offering immediate rental income with the potential for substantial increases. The current rental rates are as follows: Unit 1: $1,250 (lease ends 2/28/25), Unit 2: $1,250 (lease ends 2/28/25), Unit 3: $1,075 (month-to-month), Unit 4: $875 (month-to-month). The new owner can expect considerable upside by bringing all units up to market value of at least $1,800, leading to significantly increased cash flow. This quadruplex represents an unbeatable opportunity for savvy investors looking to capitalize on the rapidly growing Orlando market with its A+ location and potential for significant rental income increases. ***Seller offering partnership for redevelopment***
Status:
Active
Type:
Multi-family
Laundry Remarks:
Other
Units:
4
Subdivision:
JOSEPH SCHUNCK SUB
Garage:
Common, Covered
Heating:
Wall Units / Window Unit
Cooling:
Wall/Window Unit(s)
Acreage:
0.32
Est. Taxes:
$9,344
Construction
Block
Utilities
BB/HS Internet Available, Cable Available, Electricity Connected, Phone Available, Public, Sewer Connected, Water Connected
Days on Market:
8
MLS #:
O6241696
Community Info
School Info
Walk Score
Yelp
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Listing courtesy of HOMEVEST REALTY Phone: 407-897-5400