Halcyon is an exclusive 21 unit waterfront complex built between 1970-1979 (built by owner in various stages) and is located on 1.7+/- water front acres on the East shore of Lake Lulu in the city of Winter Haven Florida which consists of (20) townhomes and (1) single family home.

Lake Lulu is on the “chain of lakes” which has 24 lakes connected by a system of navigable canals. This makes Halcyon a very valuable and desirable property. The land value alone is worth the asking price – Owner is retiring and is motivated to sell!

PARTIAL ASSUMABLE MORTGAGE POSSIBLE!!

Halcyon is located only 3.1 miles from the new Lego-Land, 34 miles from Disney World, 2 hours from the Atlantic beaches, 1.5 hours from the Gulf beaches, and only 1 hour from the center of Orlando, Florida! With the new CTX Intermodal Facilities, Wal-Mart Distribution Center, State Farm Insurance, Sherman Williams Paint, Lego- Land, Orange Juice production facilities, Winter Haven offers many jobs which lends to demand for good housing demand.

Halcyon used to be individual condos but for tax purposes the owner had them zoned as apartments.   They can easily be converted back into condos.

The 20 highly units are 1,2 & 3 bedroom units and are a nice mix of sizes as follows:
(2) studio units with 400 sq ft
(1) 2 bedroom 1.5 bath unit with 1400 sq ft
(8) 2 bedroom 2 bath units with 1500-1764 sq ft
(4) 3 bedroom 2.5 bath units with 1575-1764 sq ft
(3) 3 bedroom 2.5 bath units with 2200 sq ft
(2) 4 bedroom 3 bath units with 2235 sq ft

Income: Currently this is 100% occupied, mostly by long term tenants.  Current rent role shows approx $14,500 in monthly income.   Many rents have not been raised in years and are month-to-month.    If $18,000 you would have over a 10% ROI.   The property is at 100% occupancy with LONG TERM tenants. Rents are under market value and could be raised to bring ROI to over 13% annually.

Investment Strategies:

Cash Flow – this is a growing and developing area of Florida.   Legoland just opened this spring and until then it was pretty quiet in Winter Haven.  They bought out the bankrupt Cypress Gardens which was a minimal water attraction.  But with this new park opening, Winter Haven is starting to get the attention of developers and the locals believe it has great growth potential.

Hold then re-zone and sell:  Since these used to be individual condos and the owner had them re-zoned for apartments for tax purposes, one could snatch this up and let it cash flow until the market rises, then pretty easily have them zones back into individual condos and sell them off individually.

—– ADDITIONAL PHOTOS, INCOME  &  EXPENSES AVAILABLE —–

Management: Presently the property is owner managed. Management is available and ready to take over for 9% of income per month

TOTAL PRICE:  $1.75 Million.  Price: $750K can be assumable!
-Buyer pays closing costs
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CONTACT: Mitch Thomas – 407-844-5203
Investor-Orlando Home Solutions, LLC
Broker Associate/Realtor – Sand Dollar Realty Group