Active

$625,000

Features:
  • 3 Bedrooms
  • 3 Bathrooms
  • 1890 sq ft
Overview
  • ID: MFRO6292751
  • Bedrooms: 3
  • Bathrooms: 3
  • Size: 1890 sq ft
Property Details
Remarks
Discover a rare and lucrative opportunity at 1360 Formosa Ave, a corner lot triplex in the highly sought-after Winter Park market. This income-generating property features three fully rented one-bedroom, one-bathroom units, providing a strong and steady return on investment. With 100% occupancy, this property is already a cash-flowing asset, but its value-add potential makes it even more enticing for savvy investors seeking long-term gains. The triplex sits in a prime location just minutes from Rollins College, Full Sail University, and downtown Orlando, making it highly attractive to a consistent pool of tenants. The property's proximity to major employers, boutique shopping, and popular dining options on Park Avenue ensures ongoing rental demand and future appreciation. What makes this investment even smarter is Winter Park’s limited inventory and high property values, driven by its historic charm, excellent schools, and vibrant lifestyle. With steady property appreciation, investing in a multifamily property here offers the potential for significant equity growth. Additionally, the value-add opportunities are abundant. Whether through cosmetic upgrades, improved landscaping, or adding modern amenities, this triplex has room to increase rental income and maximize ROI. Winter Park’s strong rental market makes this property a low-risk, high-reward investment. The area boasts low vacancy rates and increasing rental prices, offering reliable cash flow. Plus, the property's corner lot location provides the potential of enhanced curb appeal and the potential for future development or expansion. This is more than just an income-generating property—it’s an opportunity to invest in a growing, high-demand market with long-term stability. Whether you're looking to expand your portfolio or secure a foothold in Winter Park's thriving real estate market, 1360 Formosa Ave is a rare find with exceptional potential.
Financial Considerations
Price:
$625,000
HOA Fee:
N/A
Tax Amount:
$8350
Price per SqFt:
$330.69
Tax Legal Description:
THE PINES H/14 LOT 25 (LESS W 10 FT IN ST) BLK B
Exterior Features
Lot Size:
4803
Lot Features:
N/A
Waterfront:
No
Parking Spaces:
N/A
Parking:
N/A
Roof:
Membrane
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
3
Bathrooms:
3
Heating:
Central
Cooling:
Central Air
Appliances:
N/A
Furnished:
No
Floor:
Wood
Levels:
One
Additional Features
Property Sub Type:
Triplex
Style:
N/A
Year Built:
1949
Construction Type:
Block
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
Fence, Other
Additional Features 2:
N/A
Map
  • Address
    1360 FORMOSA AVE
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