501 AVENUE G SE, Winter Haven, FL 33880

About This Property

Welcome to an exceptional HOUSE HACKING and INVESTMENT OPPORTUNITY in the heart of Winter Haven! Legally classified as a SINGLE-FAMILY HOME, this unique property is GRANDFATHERED FOR MULTI-FAMILY USE and is currently configured as two separate living units, making it ideal for INVESTORS, OWNER-OCCUPANTS, or MULTI-GENERATIONAL LIVING. The front unit features 3 BEDROOMS, 1 BATHROOM, its own PRIVATE CARPORT, LAUNDRY ROOM, separate entrance, and private backyard, while the rear unit offers 1 BEDROOM, 1 BATHROOM, a private entrance, private backyard, and is currently rented for OVER $1,200 /MONTH. For added comfort, energy efficiency, and long-term value, the rear unit has been upgraded with a NEW MINI-SPLIT A/C SYSTEM, providing efficient climate control for tenants. The front unit has an estimated rental value of $1,650-$1,750 /MONTH, creating a projected combined rental income of approximately $2,850-$3,000+ /MONTH. Looking for additional upside? One of the bedrooms in the front unit has its OWN EXTERIOR ENTRANCE leading to the patio and offers exciting VALUE-ADD POTENTIAL for a future studio or efficiency conversion by adding a bathroom and kitchenette (buyer to verify all permitting, zoning, and city requirements). Recent 2023 UPDATES include updated kitchen countertops, fresh exterior paint, new flooring and interior paint in the rear unit, along with the installation of the NEW MINI-SPLIT A/C, making this property truly move-in and rent-ready. The home is serviced by ONE WATER METER and TWO SEPARATE ELECTRICAL METERS, allowing each unit to maintain its own electrical service. Perfectly situated just minutes from DOWNTOWN WINTER HAVEN, the famous Chain of Lakes, shopping, dining, healthcare, and schools, you'll also enjoy convenient access to US-27, I-4, Orlando International Airport, Downtown Orlando, and Walt Disney World, along with many of Central Florida's top attractions. As Winter Haven continues to experience significant residential, commercial, and economic growth, this property presents an outstanding opportunity to capitalize on both IMMEDIATE CASH FLOW and LONG-TERM APPRECIATION, whether you're looking to LIVE IN ONE UNIT WHILE RENTING THE OTHER, expand your investment portfolio, or own a versatile income-producing property with exceptional future potential. For added flexibility, the front 3-bedroom unit is also being offered FOR RENT, creating additional options for investors or future owner-occupants. Front Unit was Virtually Staged.

Property Details

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Listed by LPT REALTY, LLC · MLS# O6420791