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For sale
Residential income properties
FL
Orlando
32839
1948 LAKE ATRIUMS CIRCLE 129

Updated Condo Near Millenia

1948 LAKE ATRIUMS CIRCLE 129 Orlando, FL 32839

1948 LAKE ATRIUMS CIRCLE 129, Orlando, FL, 32839

$138,000

For Sale

$138,000

Updated 2BD/2BA condo with new appliances and in-unit laundry.

Property Size864 SF

Price / SF$159.72

AddedFeb 19, 2025

Days on Market512

Last RefreshJul 15 at 6:33 pm

Property Features for 1948 LAKE ATRIUMS CIRCLE 129

General Information

Standard status: Active
Size: 864 SF
Property subtype: Condo/Townhome

Building Details

Year Built: 1986

Listing office WEMERT GROUP REALTY LLC

Listing date Feb 19, 2025

Source Exitrealty

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 WEMERT GROUP REALTY LLC

Investment Insights

Based on property information with market context.

This updated second-floor unit offers low-maintenance living in a centrally located community. The 864 square foot condo features an open living and dining area, tile floors throughout, a new A/C installed in 2022, and a new water heater installed in 2021. In-unit laundry is included. Sliding glass doors off the living area open to a covered balcony with outdoor space and storage. The updated kitchen includes new cabinetry, quartz counters, and a stainless steel stove and fridge, with warranties available on the fridge and vent hood. A herb window is present. Both bedrooms feature walk-in closets, with the primary bedroom including an en-suite bath and the second bedroom providing access to the balcony. The property is situated around a central pond with waterfront amenities, minutes from S John Young Parkway and I-4, providing access to Downtown Orlando and neighboring cities, shopping, and dining. A $3,500 roof special assessment has already been paid.

Key Highlights

Qualifies for zero down payment and no PMI loan
Updated kitchen featuring new cabinetry, quartz counters, and stainless steel appliances (stove & fridge)
New A/C (2022) and new water heater (2021)

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$21.8k	$25.20
− Vacancy	−$1.4k	−$1.64
EGI	$20.4k	$23.56
− OpEx	−$9.2k	−$10.60
NOI	$11.2k	$12.96

864 SF · lease $25.20/SF/yr · vacancy 6.50% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$160.0K

$140.0K – $186.6K (±1% cap)

NOI $11,197 @ 7.0% cap · market cap 8.11%

Second Best

—

no second resolved use

Theoretical Best

Office A

$278.3K

$243.5K – $324.7K (±1% cap)

NOI $19,483 @ 7.0% cap · market cap 14.12%

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

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

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Suggested Use

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For sale
Residential income properties
FL
Orlando
32839
1948 LAKE ATRIUMS CIRCLE 129

What type of property is this?

Residential income property - Updated 2BD/2BA condo with new appliances and in-unit laundry.

Where is this residential income property located?

The property is located at 1948 LAKE ATRIUMS CIRCLE 129 Orlando, FL.

What is the asking price?

The asking price for this property is $138,000.

What are key features of this property?

This property features: Qualifies for zero down payment and no PMI loan; **Updated kitchen featuring new cabinetry, quartz counters, and stainless steel appliances (stove & fridge)**; New A/C (2022) and new water heater (2021)