Downtown Flip near Lake Eola E Ruth Ln. Orlando, FL. 32801
If you have been waiting for an opportunity in Downtown Orlando with some serious meat on the bone, then look no further! You can not get anymore downtown Orlando than this house, Lake Eola is 2 blocks away. We are selling this house for $116/sqft, which is a true unicorn of a price point for this area. The last time a house in this zip code sold for that cheap of a price/sqft was 5 years ago.
This house, and the houses on either side of it, are owned by Trinity Church. The church had these properties physically moved to this location about 10 yrs ago. The utilities have not been connected. So you will need to have that done along with a full rehab.
The church is currently subdividing the lots, so closing will be once that has been completed. The main downside is of this property is the lack of a backyard. Behind the house is a fenced in park and small soccer field owned by the church. When I asked the church if the buyer of this house could use that park they replied “It is private property, but the fence is not locked” So the end user of this property might want to consider joining the church. The property is currently in a PD of Trinity, but is being split to its own lot. If this property had a full back yard the ARV would be 600k plus, but since it does not have a backyard we changed the ARV to 500k. Do not hesitate, at this price it will not last long.