Property Description:
Don’t miss this rare opportunity to acquire a duplex within walking distance of downtown Mount Dora. This property, constructed with durable block materials, offers a total of 4 bedrooms, 2 full baths, and 2 half baths, encompassing 1,456 square feet of living space. The new roof, installed in 2018, adds further value and peace of mind to this investment.
To maximize the property’s potential, we recommend updating it with new waterproof flooring, modern kitchen cabinets, and stylish countertops. What sets this duplex apart is its affordability, as it is the only available duplex priced under $350,000 in all of Lake County.
Currently, the property generates income, with Side B occupied by a long-term tenant paying below-market rent of $800, with a lease in place until September 30, 2023. Side A is currently vacant, offering an excellent opportunity for renovation and increased rental income potential. Given the high demand for affordable housing in Lake County, this property is well-suited for Section 8 rental, with the 2023 Fair Market Rent Documentation System projecting a rental income of $1600 per side for a two-bedroom property.
Income-producing investments like this are highly sought after in Lake County, making it a compelling opportunity for investors. Don’t miss out on this income-generating prospect—contact us to secure this valuable investment.