Property Description:
This 3-unit property offers a total of 7 bedrooms and 4 bathrooms across a 2,264 sq ft footprint, sitting on nearly 10,000 sq ft of land. The layout includes (2) 2-bed/1-bath units and (1) 3-bed/2-bath, all in need of a full renovation. Built in 1904, it’s a rare multifamily opportunity in an established, walkable pocket of Kissimmee — and it’s priced well under market at just $285,000.
🛠️ Full Rehab – Needs Roof, Systems & Interior Overhaul
The structure is super old, with no recent updates and an overall need for complete modernization. The roof, mechanicals, and interiors all need replacement. Zoning is multifamily dwelling, but teardown/redevelopment feasibility is questionable due to the historic location — renovation is the likely path forward.
Once stabilized, rents are projected at $4,100/month based on local apartment comps ($1,500 for a 3/2 and $1,300 for each 2/1), making this a strong long-term hold or BRRRR candidate.
📈 What the Market Says – All comps are multifamily or older SFR
🔵 222 N Orlando Ave (0.64 mi SW)
2 Bed / 2 Bath · 1,271 sq ft · 4,356 sq ft lot · Built 1936
Sold $320,000 — $252/sf · Older SFR
🔵 914 Sumner St (0.84 mi SW)
3 Bed / 2 Bath · 1,456 sq ft · 10,193 sq ft lot · Built 1959
Sold $380,000 — $261/sf · Updated Interior
🔵 507 Mabbette St (0.68 mi SW – Off Market)
4 Bed / 4 Bath · 2,856 sq ft · 9,148 sq ft lot · Built 1926
Closed $650,000 — $228/sf · Renovated Duplex/Multifam
🔵 612 Sumner St (0.69 mi SW – Off Market)
2 Bed / 2 Bath · 1,286 sq ft · 4,487 sq ft lot · Built 1951
Closed $320,000 — $249/sf · Clean Condition
These nearby properties — many smaller or with fewer units — support a significantly higher ARV. With rehab, this triplex could conservatively appraise in the $425K–$475K+ range, depending on finish quality and whether all units are rented. Kissimmee multifamily deals under $300K are rare, especially this close to the core. While this one needs everything, the size, zoning, and rent potential make it a smart rehab play with excellent long-term upside.