Property Description:
Winter Haven Duplex for sale. Multifamily property priced way under market value. This one is a no brainer to add to your rental portfolio at an awesome price. For starters this is zoned multifamily with two different entrances and two different levels for easy access. The only thing is that it only has one electric meter, so you will need to add a second, or factor that into your rent. The property is zoned R-3, but classified as SFR currently. You shouldn’t have an issue with the city, but I would double check to confirm.
Outside of AC, both units are rental ready as they sit, just dated. So the amount of rehab is up to you. You could do some updating to kitchen, baths and paint as it’s a little dated, or leave as is. The roof is 2015 according to seller. There are two main areas that need addressed. First is the AC, there is no central AC and no ducting. The units are small enough that you could add a couple splits and call it a day, or duct it to get the central AC going for a greater cost. Also, the downstairs unit has a very small kitchen. It is hard to fit both a stove and fridge in it. It backs up to a bedroom closet though, so you could move some walls to widen the kitchen and move the closet in the bedroom to make it work with minimal intrusion.
I showed multifamily and sfr comps so that you can see the difference in valuation. Whatever you decide for rehab, you are getting into a great multifamily property at a great value. It sits on a quiet street across from a park, and you should have no issue renting it out quickly.