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$695,000
Active
454 LAKEPORT COVE
CASSELBERRY, FL 32707 — CENTRAL PARK ADD
8 Beds
5 Baths
4,040 sqft
0.85 acres
Built 1948
About This Property
This offering presents a rare opportunity to acquire a 4-unit income-producing property in the highly sought-after Casselberry submarket of the Orlando MSA. Situated on an expansive 0.85-acre parcel, the property consists of four detached rental homes with durable masonry construction, newer roofs (approximately 4 years old), and a strong history of occupancy.
The asset provides stable in-place income with a current rent roll of approximately $71K annually, while offering clear value-add potential through rent growth. Current average rents are below market at approximately $1,650 per unit, with comparable properties supporting higher rent rate per unit, creating a straightforward path to increase income and overall asset value.
Operationally, the property benefits from favorable insurance costs (~$6K/year) and minimal near-term capital expenditure requirements, making it a low-risk, easy-to-manage investment. The combination of strong fundamentals, below-market rents, and a large land component positions this asset as an ideal opportunity for investors seeking stable cash flow with upside in a high-growth Central Florida market.
The asset provides stable in-place income with a current rent roll of approximately $71K annually, while offering clear value-add potential through rent growth. Current average rents are below market at approximately $1,650 per unit, with comparable properties supporting higher rent rate per unit, creating a straightforward path to increase income and overall asset value.
Operationally, the property benefits from favorable insurance costs (~$6K/year) and minimal near-term capital expenditure requirements, making it a low-risk, easy-to-manage investment. The combination of strong fundamentals, below-market rents, and a large land component positions this asset as an ideal opportunity for investors seeking stable cash flow with upside in a high-growth Central Florida market.
Property Details
Basics
- Property Type
- Residential Income
- Property Subtype
- Quadruplex
- MLS Number
- O6393398
- Days on Market
- 1
- Year Built
- 1948
- Occupant Type
- Tenant
Size & Structure
- Living Area
- 4,040 sqft
- Lot Size
- 0.85 acres
- Lot Sq Ft
- 36,935 sqft
- Bedrooms
- 8
Interior
- Interior Features
- Other
- Laundry
- Inside
- Windows
- Blinds
- A/C
- Central Air
- Heating
- Central
Exterior & Lot
- Exterior Features
- None
- Construction
- Block
- Roof
- Shingle
- Foundation
- Slab
- Lot Features
- City Limits, Paved
Water & Pool
Community & HOA
- HOA
- No
Utilities & Systems
- Water
- Public
- Sewer
- Public Sewer, Other
- Utilities
- Cable Available, Water Connected
- Cooling
- Central Air
- Heating
- Central
- Flood Zone
- AE*
Financial
- List Price
- $695,000
- Annual Taxes
- $9,907
- Tax Year
- 2024
- Listing Terms
- Cash, Conventional
- Special Conditions
- None
- Possession
- Close Of Escrow
Schools
- Elementary
- Casselberry Elementary
- Middle School
- Milwee Middle
- High School
- Winter Springs High