1360 FORMOSA AVENUE, Winter Park, FL, 32789 | $625,000

Discover a rare and lucrative opportunity at 1360 Formosa Ave, a corner lot triplex in the highly sought-after Winter Park market. This income-generating property features three fully rented one-bedroom, one-bathroom units, providing a strong and steady return on investment. With 100% occupancy, this property is already a cash-flowing asset, but its value-add potential makes it even more enticing for savvy investors seeking long-term gains.

The triplex sits in a prime location just minutes from Rollins College, Full Sail University, and downtown Orlando, making it highly attractive to a consistent pool of tenants. The property's proximity to major employers, boutique shopping, and popular dining options on Park Avenue ensures ongoing rental demand and future appreciation.

What makes this investment even smarter is Winter Park’s limited inventory and high property values, driven by its historic charm, excellent schools, and vibrant lifestyle. With steady property appreciation, investing in a multifamily property here offers the potential for significant equity growth. Additionally, the value-add opportunities are abundant. Whether through cosmetic upgrades, improved landscaping, or adding modern amenities, this triplex has room to increase rental income and maximize ROI.

Winter Park’s strong rental market makes this property a low-risk, high-reward investment. The area boasts low vacancy rates and increasing rental prices, offering reliable cash flow. Plus, the property's corner lot location provides the potential of enhanced curb appeal and the potential for future development or expansion.

This is more than just an income-generating property—it’s an opportunity to invest in a growing, high-demand market with long-term stability. Whether you're looking to expand your portfolio or secure a foothold in Winter Park's thriving real estate market, 1360 Formosa Ave is a rare find with exceptional potential.

Features

  • Bedrooms: 3
  • Units: 3
  • Laundry: Outside
  • Year Built: 1949
  • Heating: Central
  • Cooling: Central Air
  • Approx Sq. Feet: 1,890
  • Acreage: 0.11
  • Est. Taxes: $8,350
  • Elem. School: Princeton Elem
  • Middle School: College Park Middle
  • High School: Edgewater High
  • Lease Terms: 12 Months
  • MLS#: O6292751
  • Days on Market: 1 day
  • Website: https://www.raveis.com
    /prop/O6292751/1360formosaavenue_winterpark_fl?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of MFRMLS (My Florida Regional MLS DBA Stellar MLS). The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. (last updated 4/17/2025 9:17:08 PM)
Listing courtesy of TOP FLORIDA HOMES   Phone: 855-919-0458

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NMLS Mortgage Loan Originator ID 16953

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Melissa.Cohn@raveis.com

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1360 FORMOSA AVENUE, Winter Park, FL, 32789

$625,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Melissa Cohn

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 $500,000 $500,000 $500,000
Term 360 months 360 months 180 months
Initial Interest Rate** 6.375% 6.875% 5.875%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.007% 7.037% 6.152%
Monthly Tax Payment $696 $696 $696
H/O Insurance Payment $92 $92 $92
Initial Principal & Interest Pmt $3,119 $3,285 $4,186
Total Monthly Payment $3,907 $4,073 $4,974

* 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.