454 Lakeport Cove, Casselberry, FL 32707
- $695,000
- 8
- BD
- 5
- BA
- 4,040
- SqFt
- List Price
- $695,000
- Status
- Pending
- Days on Market
- 99
- MLS#
- O6393398
- Property Style
- Quadruplex
- Year Built
- 1948
- Bedrooms
- 8
- Bathrooms
- 5
- Living Area
- 4,040
- Lot Size
- 36,935
- Acres
- 0.85
- Total Acreage
- 1/2 to less than 1
- Legal Subdivision Name
- Central Park Add
- MLS Area Major
- Casselberry
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
- Taxes
- $9906
- Annual Gross Income
- 71450
- Location
- City Limits, Paved
- Community Features
- No Deed Restriction
- Zoning
- R-9
- Interior Layout
- Other
- Interior Features
- Other
- Utilities
- Cable Available, Water Connected
- Heating
- Central
- Air Conditioning
- Central Air
- Exterior Construction
- Block
- Exterior Features
- None
- Roof
- Shingle
- Foundation
- Slab
- Pool
- No Pool
- Elementary School
- Casselberry Elementary
- Middle School
- Milwee Middle
- High School
- Winter Springs High
- Flood Zone Code
- AE*
- Parcel ID
- 08-21-30-501-0000-001A
- Legal Description
- PT OF LOT 1 DESC AS BEG NW COR OF S 100 FT OF N 200 FT RUN E 377.55 FT S 100 FT W TO W LI OF LOT 1 NWLY ON W LI TO BEG (LESS BEG 208.35 FT E OF NW COR RUN S 8.94 FT E 33 FT N 8.94 FT W 33 FT TO BEG) ADD TO CENTRAL PARK PB 7 PG 9
Listing courtesy of JULIAN PROPERTIES, INC.. 407-291-4900
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