721 CARIBBEAN DR Davenport, FL 33897

Great opportunity for Investors, Flippers, or Do-It-Yourselves, to makeover a perfectly located property to either rent short or long-term, or to make as your personal residence to live in for your own enjoyment. This property has two separate living units. The primary living area has an open floor plan with a combined Living Room, Dining Room, and Kitchen. On the second floor is a Master Bedroom with an ensuite master bathroom which includes double sinks, a large bathtub, and a standup shower. There are also two other bedrooms upstairs with a shared full bath in the hallway. The secondary living area is commonly referred to as a mother-in-law suite, studio, or lockout. This unit has a private entrance and has space for an abbreviated kitchenette, plus a closet and private full bathroom. Both living areas will require updates primarily to repaint the interior and to update/refurbish the kitchen and the bathrooms. In consideration of this, you will note that the asking price is considerably below the after repair value (ARV) for the property. Recently renovated homes in this community are selling for top dollar and this property can too! If you elect not to immediately resell the property after repairs, the renovated property can become either a long or short term rental unit. Long-term rentals can reasonably be expected to provide $1600-$2000/month for the main unit and up to $900/month for the studio. As a short term rental, daily rentals of $120-$150 for the main living unit are completely in line with current market pricing. The exterior community and property maintenance is included in the low HOA fee of only $220/month. The roof was replaced in 2018, the buildings were all repainted in 2019-2020, and the streets have recently been repaved. The community offers some great amenities with a community clubhouse, fitness center, swimming pool, spa, sauna and both a tennis and basketball court. The property is conveniently located with easy access to major roads and highways that will have you at Disney World in just minutes, plus the beaches on either coast are less than 2 hours away. Also in close proximity are Universal Studios, Legoland, Sea World and numerous world class shopping areas and restaurants. With some paint and overall refurbishing, you can easily make this property either your personal residence or an excellent short or long term investment property. Come join in on the fantastic Florida lifestyle.