454 Lakeport Cove, Casselberry, FL 32707
- $695,000
- 8
- BD
- 5
- BA
- 4,040
- SqFt
- List Price
- $695,000
- MLS#
- O6393398
- Type
- Multifamily
- Bedrooms
- 8
- Bathrooms
- 5
- Living Area
- 4,040
- Lot Size
- 36,935
- Subdivision
- Central Park Add
- Year Built
- 1948
Property Description
Under contract-accepting backup offers. This offering presents a rare opportunity to acquire a 4-unit income-producing property in the highly sought-after Casselberry submarket of the Orlando MSA. Situated on an expansive 0.85-acre parcel, the property consists of four detached rental homes with durable masonry construction, newer roofs (approximately 4 years old), and a strong history of occupancy. The asset provides stable in-place income with a current rent roll of approximately $71K annually, while offering clear value-add potential through rent growth. Current average rents are below market at approximately $1,650 per unit, with comparable properties supporting higher rent rate per unit, creating a straightforward path to increase income and overall asset value. Operationally, the property benefits from favorable insurance costs (~$6K/year) and minimal near-term capital expenditure requirements, making it a low-risk, easy-to-manage investment. The combination of strong fundamentals, below-market rents, and a large land component positions this asset as an ideal opportunity for investors seeking stable cash flow with upside in a high-growth Central Florida market.
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Additional Information
- Community Features
- No Deed Restriction
- Annual Gross
- 71450
- Style
- Quadruplex
- Interior
- Other
- Interior Features
- Other
- Exterior Construction
- Block
- Exterior
- None
- Roof
- Shingle
- High School
- Winter Springs High
- Middle School
- Milwee Middle
- Elementary School
- Casselberry Elementary
- Located Near
- City Limits, Paved
- Utilities
- Cable Available, Water Connected
- Heating
- Central
- Cooling
- Central Air
- Pool Type
- No Pool
Listing courtesy of JULIAN PROPERTIES, INC..
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