12-Unit Apartment
For Sale
$1,395,000
6015 FOREST CITY Road, Orlando, FL 32810
Residential Income, ORLANDO, FL
Property Size6,174 SF
Lot Size1.09 Acres
Price / SF$225.95
Days on Market224
Property Features for 6015 FOREST CITY Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-3
Bedrooms
15
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 2, Bathroom 9, Bedroom 2, Bedroom 13, Laundry Room, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 7, Bedroom 12, Bathroom 11, Bathroom 6, Bedroom 14, Bathroom 5, Bedroom 9, Bedroom 11, Bathroom 10, Bathroom 1, Bathroom 7, Bedroom 1, Bedroom 8, Bathroom 3, Bedroom 10, Bathroom 12, Bedroom 15, Bathroom 4, Bathroom 8, Bedroom 6
Parking features
Open
Interior features
Ninguno, Open Floorplan
Exterior features
Lighting
Appliances
Range, Refrigerator
Subdivision
VILLAGE VIEW APARTMENTS
Directions
SR426 TO FAIRBANKS TO EDGEWATER DR. TO RIGHT ON FOREST CITY RD APARTMENTS ARE BEHIND SHOPPING CENTER.
Standard status
Active
APN
33-21-29-0000-00-100
Size
6,174 SF
Lot size
1.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BEG 330 FT E OF SW COR OF SE1/4 OF SE1/4RUN N 264 FT E 180 FT S 264 FT W 180 FTTO POB IN SEC 33-21-29
Tax Annual Amount
10244
Legal Description
BEG 330 FT E OF SW COR OF SE1/4 OF SE1/4RUN N 264 FT E 180 FT S 264 FT W 180 FTTO POB IN SEC 33-21-29
Utilities
Sewer type
Septic Tank
Heating system
Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
12
Flooring type
Laminate, Carpet
Building materials
Block
Roof type
Shingle, Metal
Listing Agency:
SELECTIVE REALTY GROUP LLC
(407) 627-1727
Listed By:
Jack Luiz · License #581277
(407) 716-5528
Added: Jan 16
Changed: Aug 27
Last Checked: Aug 28 at 6:06AM
MLS# O6374539
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 12-unit apartment property occupies 1.09 acres and includes 6,174 square feet of building area. Constructed in 1930, the improvements feature block construction, open-plan interiors, laminate and carpet flooring, shingle and metal roofing, and lighting. Individual apartments include ranges and refrigerators, with ductless heating and window or wall/window cooling. Open parking is provided.
The property is located on Forest City Road in Orlando, Florida 32810, within Orange County. It is served by public water and a septic tank. R-3 zoning and current full occupancy are documented property attributes.
The property is located on Forest City Road in Orlando, Florida 32810, within Orange County. It is served by public water and a septic tank. R-3 zoning and current full occupancy are documented property attributes.
Key Highlights
- 12‑unit apartment complex reported fully rented
- 6,174 square feet on 1.09 acres
- R‑3 zoning in Orlando, FL 32810
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
$80,009
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
5.74%
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%
$1,600,180
$1.6M
Cap Rate 7%
$1,142,986
$1.1M
Cap Rate 9%
$888,989
$889.0K
Market Conditions
NOI Build-Up for 6,174 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
$155.6K $25.20/SF
− Vacancy
−$10.1K −$1.64/SF
EGI
$145.5K $23.56/SF
− OpEx
−$65.5K −$10.60/SF
NOI
$80.0K $12.96/SF
Area
Orlando, FL
Vacancy
6.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,600,180
Cap Rate 7%
$1,142,986
Cap Rate 9%
$888,989
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$1.00M – $1.33M
NOI $80,009 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,220 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,175
Businesses Nearby
Explore this area
Business Placement
Demographics for 32810, FL
35,925
Population
14,849
Households
2.4
Avg Household Size
36
Median Age
26%
College-Educated
87%
High-School Grad
9.2 sq mi
ZIP Area
3,905
Density / Sq Mi
$58,462
Median Household Income
$37,983
Median Earnings
$1,545
Median Rent
$260,000
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?
Apartment building - Fully occupied apartment property with open-plan interiors, public water, and R-3 zoning in Orlando.
Where is this apartment building located?
The property is located at 6015 FOREST CITY Road Orlando, FL.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 12‑unit apartment complex reported fully rented; 6,174 square feet on 1.09 acres; R‑3 zoning in Orlando, FL 32810
