1360 Formosa Avenue, WINTER PARK, FL 32789
  • MLS#: O6292751 ( Residential Income )
  • Street Address: 1360 Formosa Avenue
  • Viewed: 10
  • Price: $625,000
  • Price sqft: $280
  • Waterfront: No
  • Year Built: 1949
  • Bldg sqft: 2236
  • Bedrooms: 3
  • Total Baths: 3
  • Garage / Parking Spaces: 1
  • Days On Market: 110
  • Additional Information
  • Geolocation: 28.5848 / -81.3771
  • County: ORANGE
  • City: WINTER PARK
  • Zipcode: 32789
  • Subdivision: Pines
  • Elementary School: Princeton Elem
  • Middle School: College Park Middle
  • High School: Edgewater High
  • Provided by: TOP FLORIDA HOMES
  • Contact: Salvison Dickson
  • 855-919-0458
  • mfrmls
  • DMCA Notice
  • Description
    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 Parks 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 Parks 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 propertyits 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.
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Features
Home Owners Association Fee
  1. 0.00
Carport Spaces
  1. 1.00
Close Date
  1. 0000-00-00
Cooling
  1. Central Air
Country
  1. US
Covered Spaces
  1. 0.00
Exterior Features
  1. Fence
  2. Other
Flooring
  1. Wood
Garage Spaces
  1. 0.00
Heating
  1. Central
High School
  1. Edgewater High
Insurance Expense
  1. 0.00
Interior Features
  1. Ninguno
  2. Other
Legal Description
  1. THE PINES H/14 LOT 25 (LESS W 10 FT IN ST) BLK B
Levels
  1. One
Living Area
  1. 1890.00
Middle School
  1. College Park Middle
Area Major
  1. 32789 - Winter Park
Net Operating Income
  1. 0.00
Occupant Type
  1. Tenant
Open Parking Spaces
  1. 0.00
Other Expense
  1. 0.00
Parcel Number
  1. 12-22-29-7096-02-250
Property Type
  1. Residential Income
Roof
  1. Membrane
School Elementary
  1. Princeton Elem
Sewer
  1. Septic Tank
Tax Year
  1. 2024
Tenant Pays
  1. Electricity
Township
  1. 22
Utilities
  1. Electricity Available
  2. Water Available
Views
  1. 10
Virtual Tour Url
  1. https://www.propertypanorama.com/instaview/stellar/O6292751
Water Source
  1. Public
Year Built
  1. 1949
Zoning Code
  1. R-2
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Headshot for Associate Michelle Hill
  1. Michelle Hill, ABR,AHWD,PA,PSA,REALTOR ®,SFR
  2. Tropic Shores Realty
  3. Mobile: 352.247.2177
  4. 229.834.4988