Located at 196 E Lake Mary Ave and 184 E Lake Mary Ave in Lake Mary, FL, this compelling investment opportunity encompasses two homes sold as a package deal, in an established neighborhood celebrated for its A-rated schools. Strategically positioned amidst ongoing rezoning and development initiatives in the area, this prime location presents an ideal prospect for redevelopment into two new homes or a multi-family project. The focus here is on the substantial land value, underscored by the properties' convenient proximity to downtown Lake Mary, City Hall events, schools, shopping, dining options, and major commuter routes. This offering represents a strategic investment choice for those looking to capitalize on the burgeoning real estate opportunities in one of Lake Mary's most sought-after neighborhoods. Price: $490,000 ARV: $850,000 + (Varies depending on which property type you decide) Rehab Estimate: $80k to tear down existing buildings +/- Property: 3 Bdrm 2 Bath plus workshops on .34 acres & 1 Bdrm 1 Bath plus bonus room and workshops on .34 acre lot (currently zones R-1A with the possibility to rezone) Size: 1,919 Living Sq. Ft & 880 Living Sq Ft (This is for each house on each lot) Built: 1956 & 1954 HOA: $0 Annually County: Seminole Elementary School: Lake Mary Elementary Middle School: Millennium Middle High School: Seminole High The property requires cash or a private/hard money loan to purchase. All inspections must be completed prior to the buyer signing the contract. Buyers will need to provide a $5,000 earnest money deposit at the time of contract which is non-refundable. The buyer will be responsible for all closing costs unless otherwise indicated.
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Unlock the full potential of this charming lakefront gem! Nestled in a serene Debary neighborhood, this home offers stunning lake views, original 1950s hardwood flooring, and a cozy stone fireplace that greets you the moment you walk through the door. The spacious, light-filled interior creates an inviting atmosphere perfect for a modern makeover. Recent upgrades include a new roof in 2022, an updated electrical panel, and a new AC system installed in 2017. The kitchen has already been enhanced with brand-new cabinets, granite countertops, stainless steel appliances, and ceramic tile flooring. The master bedroom is generously sized, complemented by an updated master bath featuring dual sinks. Both the second and third bedrooms are surprisingly large, with a completely renovated guest bath nearby. This property is priced at $320,000, offering a fantastic opportunity for investors. With just a cosmetic rehab, you can bring this home up to its full market value of $400,000, as supported by 3-month, 1-mile comps. Freshly painted inside and out, with a one-car garage and inside utility room, this home is ready for the finishing touches to make it truly shine. Located less than 3 miles from the St. Johns River and a quick drive to the new SunRail station, this property is perfectly situated for those seeking a combination of tranquility and convenience. Don’t miss out on this prime investment opportunity! Address: 14 Hibiscus DR Debary, FL 32713 Price: $320.000 ARV: $400,000 +/- (1 mile 3 months) Rehab Estimate: $20,000 +/- Property: 3 Bdrm 2 Bath home split plan .40 acre lot Size: 1,982 Living Sq. Ft & 17,000 land Total Sq. Ft Built: 1956 Estimated Property Taxes: $3,328 Rental Estimate: $2,145+ HOA: $0 Annually County: Volusia Elementary School: Debary Elementary Middle School: River Springs Middle High School: University High Comps: (Within 1/2 mile and the last 3 months) ARV $400,000 Available on a separate PDF. The property requires cash or a private/hard money loan to purchase. All inspections must be completed prior to the buyer signing the contract. Buyers will need to provide a $10,000 non-refundable earnest money deposit at the time of contract. The buyer will be responsible for all closing costs unless otherwise indicated.