Five-Unit Income Property on 1.27 Acres

1661 VOTAW ROAD, Apopka, FL 32703

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For Sale

$1,000,000

Five-unit community property with immediate rental income potential.

Type:Commercial/Industrial

Property size:

5,900 SF

Lot size:

1.27 Acres

Price / SF:

$169/SF

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.
Two vacant units (D and E) offer immediate opportunity to increase income.
Recent upgrades including a new roof on Units D and E building, new drain field on Unit D and building, total electrical upgrade, and upgraded community well.
All units are separated from the street by a block wall for added privacy and security.

We can help!

Listing Contact

Denny Shiver

For Sale

$1,000,000

Five-unit community property with immediate rental income potential.

Type:Commercial/Industrial

Property size:

5,900 SF

Lot size:

1.27 Acres

Price / SF:

$169/SF

Added:: Jan 7, 2025
Days on Market:: 523
Last Refresh:: May 19 at 10:35 pm

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

We can help!

Listing Contact

Denny Shiver

Listing agent Denny Shiver License #708246

Listing office DENNY SHIVER REALTY LLC

Listing date Jan 7, 2025

Source Exitrealty

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All listing content including descriptions, pricing, images are the copyrighted material of DENNY SHIVER REALTY LLC

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.
Two vacant units (D and E) offer immediate opportunity to increase income.
Recent upgrades including a new roof on Units D and E building, new drain field on Unit D and building, total electrical upgrade, and upgraded community well.
All units are separated from the street by a block wall for added privacy and security.

Overview

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.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

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 (±1% cap)

NOI $117,528 @ 7.0% cap · market cap 11.75%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Remove Complaints Board Government Office

Suggested Use

Location Insight

Map
Local Demand

City: Apopka
County: Orange
State: Florida
Longitude: -81.478
Latitude: 28.6842

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For sale
Multifamily properties
FL
Apopka
32703
1661 VOTAW ROAD

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.