Prime Investment Opportunity in Winter Haven!
Unlock the potential of this exceptional income-producing property! Nestled just up the street from the scenic Lake Howard, this 5-unit complex is ideally situated near an array of local amenities, making it highly attractive to tenants and investors alike.
This fully occupied property comprises five well-maintained units: one spacious 2-bedroom unit renting for $975/month, three 1-bedroom units renting for $750, $925, and $950/month respectively, and one 1-bedroom unit with an expansive bonus room renting for $900/month. The total rental income is an impressive $4, 500 each month, providing a strong and steady cash flow. With four tenants on month-to-month leases offering flexibility and one on long-term leases ensuring stability, this property combines security with adaptability.
Each unit has been recently upgraded, featuring modern kitchens and bathrooms that enhance tenant satisfaction and retention. Two units are equipped with washer/dryer hook-ups, adding further convenience. All units are individually metered for utilities, allowing for efficient and straightforward management. The property's two buildings have had their roofs replaced in 2016 and 2017, ensuring durability and reducing future maintenance costs.
Parking is ample with a gravel lot off the alley, and tenants can enjoy a large, well-maintained community yard. Lawn maintenance, handled by the owner, keeps the property looking its best year-round. This turnkey investment opportunity promises consistent rental income with minimal hassle.
Whether you're looking to expand your portfolio or secure a reliable, low-maintenance investment, this property in Winter Haven offers strong returns and significant upside potential. The strategic location, modern upgrades, and solid rental income make it a standout opportunity. Act quickly—contact us today to schedule a viewing and take the first step toward owning this outstanding investment property!
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William Raveis Real Estate
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Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $440,000 | $440,000 | $440,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.375% | 6.875% | 5.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.760% | 7.042% | 6.160% |
Monthly Tax Payment | $137 | $137 | $137 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,039 | $2,890 | $3,683 |
Total Monthly Payment | $3,267 | $3,118 | $3,911 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.