Five-Unit Income Property on 1.27
For Sale
$1,000,000
1661 VOTAW ROAD, Apopka, FL 32703
Five-unit community property with immediate rental income potential.
Property Size5,900 SF
Lot Size1.27 Acres
Price / SF$169.49
Days on Market572
Property Features for 1661 VOTAW ROAD
General Information
Standard status
Active
Size
5,900 SF
Lot size
1.27 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1963
Listing Agency:
DENNY SHIVER REALTY LLC
(407) 625-1503
Listed By:
Denny Shiver · License #708246
(407) 625-1503
Source:
Exitrealty
Added: Jan 7, 2025
Changed: Jul 6
Last Checked: Aug 1 at 8:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of DENNY SHIVER REALTY LLC
Investment Insights
Based on property information with market context.
This income-producing property features a five-unit community situated on a 1.27-acre lot. The property includes multiple buildings, with units separated from the street by a block wall. Unit A is a 400-square-foot, one-bedroom, one-bathroom stand-alone unit with a monthly income of $1,150. Unit B, half of a duplex, is an 800-square-foot, two-bedroom, one-bathroom unit generating $1,200 monthly. Unit C, the other half of the duplex, mirrors Unit B with 800 square feet, two bedrooms, one bathroom, and $1,200 monthly income. Unit D, the front half of a duplex, offers 1,800 square feet, three bedrooms, and 2.5 bathrooms, plus a two-car garage, and is currently vacant with a potential income of $2,500. Unit E, the rear half of the same duplex, provides 1,800 square feet, three bedrooms, two bathrooms, and a carport, also currently vacant with a potential income of $2,500. A three-bay stand-alone building is also present but not currently rented. The property's annual expenses include $4,779 for insurance, $10,566 for power, and $5,321 in taxes. All units are supplied with power and water from a community well. Recent upgrades include a new roof and drain field on the building containing Units D and E, a total electrical upgrade to the entire property, and an upgraded community well. The entire complex has been well maintained.
Key Highlights
- Immediate rental income from existing tenants in 3 units (A, B, and C).
- High potential annual income of approximately $100,000.
- Five‑unit community property on a large 1.27‑acre lot.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $140.9k | $23.88 |
| − Vacancy | −$9.2k | −$1.55 |
| EGI | $131.7k | $22.33 |
| − OpEx | −$59.3k | −$10.05 |
| NOI | $72.5k | $12.28 |
5,900 SF · lease $23.88/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$905.7K – $1.21M
NOI $72,454 @ 7.0% cap · market cap 7.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,528 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
587
Businesses Nearby
Explore this area
Business Placement
Demographics for 32703, FL
54,805
Population
22,033
Households
2.5
Avg Household Size
37
Median Age
29%
College-Educated
87%
High-School Grad
32.1 sq mi
ZIP Area
1,707
Density / Sq Mi
$70,338
Median Household Income
$42,031
Median Earnings
$1,579
Median Rent
$314,800
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?
Multifamily property - Five-unit community property with immediate rental income potential.
Where is this multifamily property located?
The property is located at 1661 VOTAW ROAD Apopka, FL.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Immediate rental income from existing tenants in 3 units (A, B, and C).; High potential annual income of approximately $100,000.; Five‑unit community property on a large 1.27‑acre lot.
