$3,999,999 Multifamily for Sale — 518 N Orange Blossom, Orlando, FL 32805

518 N Orange Blossom, Orlando, FL 32805

Summary

This is a multifamily property for sale at 518 N Orange Blossom, Orlando, FL 32805, listed at $3,999,999. The property has 25 units, 15,500 square feet, built in 1940. Financials show net operating income of $296,393, a 7.4% cap rate, gross income of $429,564 based on seller figures.

Key facts

Asking price: $3,999,999
Property type: Multifamily
Cap rate: 7.4%
NOI: $296,393
Gross income: $429,564
Occupancy: 96%
Price / unit: $160,000
Expense ratio: 26.6%
Units: 25
Building SF: 15,500
Lot (acres): 1.25
Year built: 1940
Zoning: MU-1

Description

VALUE ADD EQUITY OPPORTUNITY. Orange Grove Villas | Incredible Orlando, FL apartment complex in rare zip code. Modern updates for urban apartment living. 25-Unit Value Opportunity in Nation's #1 Growing Market. Features (25) one-bedroom apartments. New ownership will acquire a perfect value-add opportunity to renovate and lease-up the detached 25th unit along with simple renewal increases to existing rates for higher income potential. Additional benefits include proximity to population growth (+62% population growth since 2000), strong demand (95% average submarket occupancy), positive rent growth projections, and proximity to major employers including Disney World, Universal Studios + Universal Epic Universe, and AdventHealth Orlando Hospital.