Vista Cay condos OrlandoÂ has some great vacation condominiums – here’s a great 3-bedroom, 2-bathroomÂ deal that’s bank owned! These condos can be rented for both long and short term.
This 3-bedroom, 2-bath vacation condo is situated in the center of the highest-profile resort area of Orlando, Florida, adjacent to the newly expanded Orange County Convention Center and famed International Drive (â€œI-Driveâ€).
Due to its inclusion in Central Floridaâ€™s largest master-planned development (Universal Boulevard Planned Development), Vista Cay condo owners benefit from legislation that permits them to rent their condos as hotels while periodically enjoying their vacation home for personal stays.
Local property management is in place to market this holiday home as a vacation rental to offset carrying costs while the U.S. real estate market rebounds. Past sales for comparable properties peaked in the mid-$300s (Orange County Tax Record attached).
At $110,000, this property is priced below its replacement cost. As occupancy rates rise (from repeat renters) and excess inventory is absorbed, values will climb to close the gap between distressed prices and the cost to build.
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