Cheapest Active in 32789/Winter Park Minnesota Ave., Winter Park FL 32789
This is the third cheapest property that has sold in 32789 in the past year. The house, as it sits, is 1,100 sqft and sits on a 50 x 140 lot. The only play with this property is to demolish this house and rebuild. You will be getting in at the exact right time for this area as well.
The 8 lots to the left of this property are being demoed and have already been approved to build a high end two story apartment building (Pictures of what has been approved are attached, construction on that starts later this summer.) Ideal new build at this location would be 2,500 sqft with a pool. The pool is key to everything. New builds in this area sell for $250/sqft and up. That equals a sale price of $625,000 minimum. With a pool, you can probably command more. $650k to $699k on the high end.
Cost t0 build is $110/sf plus $40k for the pool. You will avoid impact fees since there is already an existing structure. $5k to $10k to scrap the existing home. This area is about to change real quick, don’t miss out on buying at the bottom. It’s walking distance to high end restaurants and the zip code that everyone wants to live in.