Price Reduction - Views
Address
1615 E RIDGEWOOD STREET Orlando, FL
Price
$ 1,800,000
Property Attributes
  • MLS#O5941511
  • TypeIncome
  • CountyORANGE
  • CityOrlando
  • AreaOrlando-Colonial Town
  • NeighborhoodFrank D Smith Sub
  • Zip32803
  • StyleQuadruplex
  • Year Built1926
  • Taxes$ 13393
  • Price$ 1,800,000
  • Bedrooms10
  • Full Bathrooms7
  • Half Bathrooms0
  • Sqr Footage6068
  • Lot Size0.42 Acres
Listing Provided Courtesy Of:
KELLEY REALTY GROUP LLC
Data Source:
Stellar MLS
Property Description

$10,600 rental income per month, or live in one of the four residences and still receive $5600 - $9100 per month. This unique income-producing historic property is a 4-unit multi-family residential parcel situated on a double lot, both lots zoned R2, in the heart of Downtown Orlando. This one-of-a-kind property consist of 3 buildings just under 1/2 acre of land surrounded by a tropical oasis. The MAIN HOUSE is a stately 2 story 1926 Colonial Revival home with 4 bedrooms, 2.5 baths and 2 additional multi-purpose rooms to fit your own personal lifestyle. This home is beautifully manicured with lots of curb appeal. The home features leaded glass windows, original picture frame oak wood floors, marble gas fireplace, 10’ ceilings, crown molding and a stunning staircase with traditional wainscoting, fully renovated kitchen with white shaker cabinetry, custom vent hood, marble counter and backsplash. A traditional mudroom/laundry/pantry is located just off kitchen with additional exit door. Unique butler pantry separates the kitchen and the formal dining room with access to the porte-cochere. Off the large formal living room through French doors is a bright sunroom with porcelain marble tile floors and wrap around windows displaying spectacular views. Exit living room through an additional French door to an office/library. Exit library through a second door and hallway and find an elegant classic black and white marble tiled powder room with traditional wainscotting and pedestal sink. On the second floor one of the spacious bedrooms has an additional connecting room with endless possibilities and an attic access. The master bedroom features full updated vintage en-suite and cedar closet. There are views from all the rooms overlooking Fern Creek. The potential rental income is $5k per month. CARRIAGE HOUSE circa 2015: 3 BR 2 BATH 2 STORY HOME with a consistent high rental yield. A brick driveway leads to a front porch flanked by reclaimed Georgian columns mirroring the main house. French doors open to a contemporary kitchen/living open floor plan with expresso cabinetry, stainless appliances and panty. A separate laundry features storage and tankless hot water heater. Adjacent to the laundry area is a contemporary full bath with tub and shower. Venture to the second floor up the oak wrought iron stairway revealing 2 large bedrooms separated by a full bath with a marble top vanity, walk in shower and a large linen closet. Separate irrigation system, electric and water. This home is occupied and rents for $2100. The second building located behind the main home is split into an upstairs and downstairs homes, each currently rented with a 1 car garage. The UPSTAIRS HOME, renovated in 2020 is a 2-bedroom, 2 bath featuring hardwood floors, an enormous living space and a large master suite with bath. This home is occupied and rents for $2,000 a month. The DOWNSTAIRS HOME is a 1 bed, 1 bath, updated in 2012. The kitchen features granite, cherry cabinets, tile floors, master ensuite with two closets and a private patio overlooking a lusciously landscaped yard and the actual "Fern Creek." This home is occupied and rents for $1,400 a month. This prime location is minutes away from Lake Eola, restaurants, the Entertainment Arena and has easy access to I-4 and the east west expressway. The Orlando SUNRAIL train is 12 min away and beautiful Cocoa Beach only 56 miles away and Disney an easy commute.

Elementary School High School
Lake Como Elem Edgewater High
Price History
5/7/2021 Listed $2,200,000
5/19/2021 10% - $1,999,000
6/17/2021 10% - $1,800,000

General Features

Additional Parcels Y/N Yes
Additional Rooms Attic, Bonus Room, Breakfast Room Separate, Den/Library/Office, Florida Room, Formal Dining Room Separate, Formal Living Room Separate, Inside Utility
Appliances Built-In Oven, Cooktop, Dishwasher, Disposal, Electric Water Heater, Freezer, Microwave, Range, Range Hood, Refrigerator
Attached Garage Yes
Construction Materials Cement Siding, Wood Frame
Cooling Central Air
Elementary School Lake Como Elem
Exterior Features Awning(s), French Doors, Irrigation System, Rain Gutters, Storage
Flooring Porcelain Tile, Wood
Garage Spaces 2
Garage Y/N Yes
Heating Heat Pump
High School Edgewater High
Interior Features Attic Fan, Ceiling Fans(s), Crown Molding, Eating Space In Kitchen, High Ceiling(s), Solid Wood Cabinets, Stone Counters, Thermostat
Levels Two
MLS Area 32803 - Orlando/Colonial Town
Minimum Lease Period No Minimum
Other Structures Shed(s)
Parking Features Assigned, Curb Parking, Driveway, Garage Door Opener, Garage Faces Rear, Ground Level, Guest, Off Street, On Street, Portico
Patio/Porch Features Deck, Patio, Porch, Rear Porch, Side Porch
Pets Allowed Yes
Property SubType Quadruplex
Property Type Residential Income
Roof Shingle
Security Features Smoke Detector(s)
Sewer Public Sewer
Special Listing Conditions None
Status Active
Subdivision Name FRANK D SMITH SUB
Terms Cash, Conventional, FHA, VA Loan
Total Num Buildings 3
Total Units 4
Township 22
Utilities Cable Available, Electricity Available, Electricity Connected, Natural Gas Connected, Public, Sewer Available, Sewer Connected, Street Lights, Water - Multiple Meters, Water Available
View Garden, Trees/Woods
Year Built 1926
Zoning R-2A/T

Interior Features

Fireplace Y/N Yes
Furnished Y/N Unfurnished
Laundry Features Inside, Laundry Room
Living Area 6068.00
Unit Count 4

Exterior Features

Foundation Details Basement
Lot Features Near Public Transit
Lot Size Acres 0.42
Lot Size Square Feet 18245
Number of Lots 1

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 32803

Price
AVG $920K
$1.8M
Taxes
AVG $7,741
$13,393
Visits
AVG 131
78
Year Built
AVG 1974
1926