196 E Lake Mary Ave , Lake Mary, FL 32746
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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.