For Sale by Owner!!!! Trophy Property Alert! Very rare opportunity to own a legal 8 unit property in the heart of downtown Orlando literally steps away from the new mega midtown development being developed by Miami midtown developer.? https://www.?orlandoweekly.?com/Blogs/archives/2021/02/24/as-demolition-begins-some-plans-for-the-former-orlando-sentinel-property-are-revealed These type of assets never come up for sale in the downtown Orlando radius, maybe once every 5 years a property like this trades hands.? The property is a true value-add property with limitless potential.? The property is licensed 8 units from the state of florida hotels & restaurants.? 7 units in main building and 1 cottage in back.? The opportunity with this property is to renovate all 8 units and rent them for $1,200-$1,400 each.? Or turn the property into an airbnb compound to maximize profits.? Or even a boutique bed&breakfast.? This property has ample parking allowing for flexible use which is very rare for this part of downtown.? Property has been at 100% occupancy for ages as all tenants have lived at the property for 10 years average.? Tenants are paying $800 a month on average.? Currently all tenants do not have leases providing new ownership flexibility to start renovations immediately.? All tenants would love to sign leases but ownership wants to keep options open for new ownership.? Once units are renovated, stabilized value on this trophy asset is $2 Million plus especially once the mega midtown is developed, value will increase more.? Property is ripe for repositioning and loaded with growth, upside and potential.? Properties in Orlando have been selling at $200K/door that don't even compare to this property's location and potential.? Orlando is one of the top ranked airbnb and multifamily market in America.? This is PRIME PRIME downtown orlando.? No place better to park your money in America!!!
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