About 16 S Grandview Avenue
9.3% CAP RATE!1! STABILIZED CASH COW PRODUCING AN 9.3% CAP RATE ON ASKING (AFTER TAXES, INSURANCE, AND EXPENSES OF APPROX $17K PER YEAR!) 3 STREETS FROM THE BEACH! This is a rare, high-performing asset with a confirmed zoning of up to 10 units, and land use of upto 10 units per the Property Appraiser and zero code violations. This property delivers a strong 9.3% return in its current state, offering a proven track record of reliable income with even further room for appreciation. The property is fully stabilized with long-term tenants on active leases (6–12 months remaining on each lease and they want to renew) who take great pride in the property. Key features include a 2018 roof, solid mechanicals, on-site parking, a common patio area for tenants, and a "High and Dry" X flood zone designation. AS A BONUS: There is a large storage unit on-site that was previously an apartment and could be converted back for additional revenue. Located walking distance to the Main Street Pier and beach access, the equity here is undeniable: a 4-unit property just two doors down recently sold for $600k—this is verifiable cash flow from day one. Perfect for a 1031 exchange or a portfolio expansion. Units nearby rent as AirBNB or long-term rentals! Call today!
Features of 16 S Grandview Avenue
| MLS® # | O6419368 |
|---|---|
| Price | $665,000 |
| Bedrooms | 5 |
| Bathrooms | 8.00 |
| Square Footage | 2,972 |
| Acres | 0.11 |
| Year Built | 1910 |
| Type | Residential Income |
| Sub-Type | Quadruplex |
| Status | Active |
Listing Details
| Office | CHARLES RUTENBERG REALTY ORLANDO |
|---|
Listing Map
Neighborhood Information for 16 S Grandview Avenue
Low Residential Turnover, Coastal Area
Statistics
Number of Listings
Population Age
Home Listings Prices
Nearby Schools
| Great Schools | School Name | Distance | |
|---|---|---|---|
|
Imagination Station Too Montessori Private - Preschool to Kindergarten |
1 Miles | |
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Riverview Learning Center Public - 6Th Grade to 12Th Grade |
1 Miles | |
|
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Basilica School Of St Paul Catholic - Preschool to 8Th Grade - Closest Elementry School |
1 Miles | |
|
|
Pure In Heart Christian Academy And Performing Arts Center Private - to |
1 Miles | |
|
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Our Lady Of Lourdes Catholic School Catholic - Preschool to 8Th Grade - Closest Middle School |
1 Miles | |
|
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Friendship Academy Private - Preschool to Preschool |
1 Miles | |
|
Ortona Elementary School Public - Kindergarten to 5Th Grade |
2 Miles |
School data provided by GreatSchools