3311 Fernandez Lane Apopka, Florida 32703 Assigned

  • $173,900
  • 3 beds
  • 2 baths
  • 2,142 sqft
Assigned

3311 Fernandez Lane Apopka, Florida 32703

Price: $173,900
ARV: $260,000

3311 Fernandez Lane – 3 Beds, 2 Baths
3313 Fernandez Lane -2 Beds, 1 Bath
2,142 Total square feet
PPSF: $79.32
BUILT: 1954
Current Rent: $1,100/month & $800/month
1,900/month total rent
Current Gross CAP Rate: 13.42%
CONSTRUCTION: Block/Wood panel

Due to the increasingly high demand for multifamily properties, I have invested more resources to better serve you! You asked, I listened =)

Off-market Apopka duplex unit that is producing income in its present condition. Current tenants are paying month to month. This property sits on a quarter of an acre, just steps from Lake Apopka. Repairs and upgrades will be needed to bring this property to its maximum value. The most evident repairs needed are:

Replace a/c window units with central air – $12,000-$15,000
Replace kitchen cabinets – $3,000
Upgrading the appliances – $2,000
Replace flooring throughout – $9,000-$12,000
Replace 3-4 windows – $600
Miscellaneous exterior repairs – $1,500
Miscellaneous interior repairs – $2,000

Total Repair Estimate – $36,100

Financial Breakdown:
Purchase Price: $169,900 + $36,100 repairs + $6,000 CC = $212,000
After Repair Income: $2,400/month combined, $28,800/year
Annual Expenses: Taxes – $1,637/year
Insurance Estimate – $1,800/year
Maintenance – $1,500/year
Vacancy Estimate – 1 month ($2,400)
Total – $6,537
$28,800-$6,537 = $22,263 Net Annual Income
$22,263/$212,000 = 10.5% NET CAP RATE!
Repair estimates are approximated. Values vary based on the quality of labor and materials. Estimated rental income after rehab: $1,400 & $1,000/month. Interior pictures coming soon! Please do not disturb current tenants. Thank you!

Available on 08.04.2020

Don’t let this excellent opportunity pass you by! Get it yours now!

Make An Offer On This Property

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Price:
$173,900
Address:
3311 Fernandez Lane
Apopka, Florida 32703
Square Feet:
2,142
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Multi-family
Year Built:
1954

Additional Features

3311 Fernandez Lane Apopka, Florida 32703 is a multiple occupancy home that was built in 1954. It contains 3 bedrooms and 2 bathrooms. This home last sold for $161,100 in August 2005. The estimate for this house is $212,595, which has decreased by $1,881 in the last 30 days. The Rent estimate for this home is $1,395/mo, which has increased by $92/mo in the last 30 days.

Call (954) 280-5883 for more details

Property Location