55 Units

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Highlights:  This property is a 55-unit multifamily complex, built-in 1971. The property is constructed of concrete block construction with new metal roofs. It consists of 6 two-story apartment buildings with a total of approximately 44,180 gross square feet and is situated on 3.46 acres. The attractive unit mix consists of 16 one bedroom one bath units, 23 two-bedroom one-bath units, and 16 three-bedroom one-bath units. The complex has an onsite laundry facility for additional income. The site is ideally located within the Orlando MSA 50 minutes Northwest of downtown Orlando and is near Lake Technical College. Under fifteen minutes to Advent Health Waterman. Under half an hour to Leesburg International Airport and the revitalized, trendy downtown area.

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Repositioning: The property will be acquired for $4,250,000. The units need aesthetic improvements as well as improved signage and landscaping. Total Improvement budget will be $250,000.  These improvements will allow an increase in rent to market level which will yield an increase of NOI of $50,100 which will yield an increase in value of $851,700.

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