Off-Market Altamonte Flip on 1/2 Acre Franklin St. Altamonte Springs, FL. 32701
This is an off-market flip on a 1/2 acre double lot in the Sanlando neighborhood of Altamonte Springs. This is a great opportunity to flip a property in a highly sought after neighborhood at a price point investors love. Property also features a detached carport, a gazebo and is a corner lot.
You have a couple options with this one. You can flip the house on the property as it sits and have a nice selling point of an oversized corner lot. Also, you could look into subdividing the lot with the dimensions being 175 W x 140 L. The property 2 lots over is 75 feet wide meaning you could possibly subdivide a 75ft x 140ft lot. That would leave you with the standard 100 ft x 140 ft lot. You could sell that 2nd lot for some extra profit without losing any value on the main flip.
Properties in this area are selling quickly on the retail market. All the comps have sold between 2 – 13 days and the properly renovated ones are selling around $165/SQFT. That puts the ARV in the $230,000 range and thats not including the money you make off selling the lot if you so choose.
Please do your due diligence if you are planning to subdivide. I have not confirmed with the county.