Three-Unit Triplex
For Sale
$875,000
1829 HOLLENBECK Drive, Orlando, FL 32806
Residential Income, ORLANDO, FL
Property Size2,496 SF
Lot Size0.16 Acres
Price / SF$350.56
Days on Market184
Property Features for 1829 HOLLENBECK Drive
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R1
Pets allowed
Cats OK, Dogs OK, Yes
Interior features
Ceiling Fans(s), Thermostat
Exterior features
Courtyard
Fireplace
1
Appliances
Dishwasher, Dryer, Electric Water Heater, Microwave, Range, Refrigerator, Washer
Subdivision
JACOB A HOLLENBECKS SUB
Elementary school
Blankner Elem
Middle school
Blankner School (K-8)
High school
Boone High
Directions
Going north on Orange Avenue, TR on Kaley. TL at first street onto Hollenbeck Drive. Home will be on your right near the end of the road, prior to the curve.
Standard status
Active
APN
01-23-29-3688-01-040
Size
2,496 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
JACOB A HOLLENBECKS SUB G/12 LOT 4 BLK A
Tax Annual Amount
5988
Legal Description
JACOB A HOLLENBECKS SUB G/12 LOT 4 BLK A
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
shared laundry area
Building Details
Year built
1930
Floors in Building
2
Number of units
3
Flooring type
Vinyl, Tile, Parquet Wood
Building materials
Stucco, Wood Siding
Roof type
Slate
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Andres Ospina Rivera · License #3293879
(321) 821-8446
Added: Feb 26
Changed: Aug 29
Last Checked: Aug 29 at 6:06PM
MLS# O6385872
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,496-square-foot triplex sits on a 0.16-acre lot and contains three independent residential units with individual entrances. The overall layout includes six bedrooms and three bathrooms, along with living areas and kitchen space. Interior features include ceiling fans and thermostats, while the property is equipped with a range, refrigerator, dishwasher, microwave, washer, dryer, and electric water heater. Central heating and central air provide climate control, and the home also includes a fireplace.
Built in 1930, the property has stucco and wood siding, tile, vinyl, and parquet wood flooring, plus a slate roof. A courtyard and shared laundry area are among the exterior and common-use features. Public water and public sewer serve the property, with electricity available. The property is located at 1829 Hollenbeck Drive in Orlando, within Orange County, and is zoned R1.
Built in 1930, the property has stucco and wood siding, tile, vinyl, and parquet wood flooring, plus a slate roof. A courtyard and shared laundry area are among the exterior and common-use features. Public water and public sewer serve the property, with electricity available. The property is located at 1829 Hollenbeck Drive in Orlando, within Orange County, and is zoned R1.
Key Highlights
- Three independent residential units with individual entrances
- 2,496 square feet on a 0.16‑acre lot
- Six bedrooms and three bathrooms across the property
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,411
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$708,220
$708.2K
Cap Rate 7%
$505,871
$505.9K
Cap Rate 9%
$393,456
$393.5K
Market Conditions
NOI Build-Up for 2,496 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$53.9K $21.60/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$50.6K $20.27/SF
− OpEx
−$15.2K −$6.08/SF
NOI
$35.4K $14.19/SF
Area
Orlando, FL
Vacancy
6.17%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$708,220
Cap Rate 7%
$505,871
Cap Rate 9%
$393,456
Alternative Uses
Best Use
Multifamily LT 5
$505.9K
$442.6K – $590.2K
NOI $35,411 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$462.1K
$404.3K – $539.1K
NOI $32,346 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$804.0K
$703.5K – $938.1K
NOI $56,283 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 32806, FL
26,582
Population
12,529
Households
2.1
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
6.8 sq mi
ZIP Area
3,909
Density / Sq Mi
$86,653
Median Household Income
$54,012
Median Earnings
$1,500
Median Rent
$415,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - R1-zoned residential property with separate entrances, shared laundry, courtyard space, and public water and sewer service.
Where is this triplex located?
The property is located at 1829 HOLLENBECK Drive Orlando, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Three independent residential units with individual entrances; 2,496 square feet on a 0.16‑acre lot; Six bedrooms and three bathrooms across the property
