118 N Grandview Street

Description

EXCEPTIONAL INVESTMENT POTENTIAL IN DOWNTOWN MOUNT DORA! Welcome to a rare opportunity in Downtown Mount Dora. This unique property, situated on a spacious 0.39-acre lot, offers a blend of downtown charm and modern infrastructure potential. With an impressive projected ARV of $900,000 to $1,000,000, this home is an investor's dream or a perfect project for those passionate about restoring historic homes. SIZE & LAYOUT: Over 3,047 sq ft of living space with a total area of 4,644 sq ft, featuring 5 bedrooms and 4.5 bathrooms, including a mother-in-law suite with private entry. MAJOR SYSTEM OVERHAULS: $190,000 invested in new roofing, plumbing, electrical systems, sewer, A/C units, ducting, natural gas lines, insulation, CAT6A wiring, and more. ADDITIONAL ASSETS: Includes a two-car garage and a 504 sq ft efficiency apartment, ideal for a home office or studio. INVESTMENT POTENTIAL: Drywall ready with further renovations estimated between $150,000 to $200,000. MATERIALS AND APPLIANCES: Many of the remaining renovation materials and appliances are available for separate purchase, offering a streamlined path to completion. FINANCIAL INSIGHT: Since appraising for $442,400 at purchase (11/2021), significant investments have already been made, increasing the tremendous upside potential. INVITATION TO BUYERS: Seize the chance to transform this downtown gem into a stunning residence or profitable investment. With major improvements already in place and the potential to achieve a significant return on investment, this property promises both the charm of downtown living and the allure of tomorrow's value. PLEASE NOTE: Conversion to duplex or triplex is not permissible. See City Ordinance No: 2017-05 Sec. 22.740 " (c) (1) for rental license information.