Illinois St., Orlando, FL 32803

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TENANT OCCUPIED, DO NOT DISTURB – DRIVE BY ONLY FOR NOW, CALL NOW FOR MORE INFO AND TO SCHEDULE A SHOWING

Great Colonialtown investment deal in excellent 32803 neighborhood with instant equity as current market value for this property is at least $260k. You’ve got at least 3 options with this deal:

1. Continue renting it out and enjoy the cash flow. Its currently tenant occupied on a month-to-month lease paying $1400/month. Perhaps end the tenant’s lease in a few months, make a few necessary repairs, and throw it back on the market for a nice, quick profit.
2. Flip the property with $40k in repairs (repair breakdown below) to reach an ARV of $325k.
3. Tear down the property and build a beautiful SFR or duplex/double townhome to maximize your return. The lot is already zoned R-2A. New-build single family homes are selling for $800k, while duplexes/townhomes are selling for around $400k each.

Colonialtown / Highland Grove 2nd Add

Repair Breakdown:

• Kitchen: $10k
• Bathroom: $3k
• Flooring: $4k (you can save a good bit of the original hardwood flooring)
• Paint: $2k
• Windows and Doors: $4k
• Re-plumb: $4k
• Electrical Re-wire: $5k
• Exterior/Siding: $5k
• Misc: $3k
• Total Repairs: $40k

Recent Area Sales / Activity:

• 1506 Illinois: The next door neighbor – only a 2/1, 786sf, clean but nothing special, sold for $250k
• 1312 Oregon St – 3/2.5, 1866sf, clean but not necessarily updated, sold in 4 days for $375k
• 1316 Oregon St – 3/2, 1496sf, only partially updated and looks like an addition was done, sold in 5 days for $358k
• 1837 Illinois St – 2/2, 1498sf, not updated, sold in 13 days for $322k

No matter which route you decide to take you’ve got an incredible deal in a fantastic area with a solid return and ample future potential.

TENANT OCCUPIED, DO NOT DISTURB – DRIVE BY ONLY FOR NOW, CALL NOW FOR MORE INFO AND TO SCHEDULE A SHOWING