Leased Duplex with Development
1238 CONLEY STREET Orlando, FL 32805
For Sale
$369,000
Fully leased duplex with long-term, recently renewed tenants on an R-2 zoned lot with room for expansion.
Property Size1,932 SF
Price / SF$190.99
Days on Market433
Property Features for 1238 CONLEY STREET
General Information
- Standard status
- Active
- Size
- 1,932 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1940
Listing Agency:
RP INVESTMENT REALTY LLC
(334) 268-1737
Listed By:
George Bateman, III · License #3305936
(334) 268-1737
Source:
Exitrealty
Added: May 17, 2025
Changed: Jul 21
Last Checked: Jul 23 at 5:01AM
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 RP INVESTMENT REALTY LLC
Investment Insights
Based on property information with market context.
This fully leased duplex features two units occupied by long-term tenants with recently renewed leases. The property is presented for sale as an income-producing residential investment with continued tenant occupancy.
The duplex sits on an oversized lot zoned R-2, providing space at the front of the property for additional development. The offering notes room to build an additional 3-bedroom, 2-bathroom single-family home.
Located at 1238 Conley Street in Orlando, the property is being marketed as a straightforward addition for buyers seeking an occupied duplex and the option to add dwelling units on the R-2 lot.
The duplex sits on an oversized lot zoned R-2, providing space at the front of the property for additional development. The offering notes room to build an additional 3-bedroom, 2-bathroom single-family home.
Located at 1238 Conley Street in Orlando, the property is being marketed as a straightforward addition for buyers seeking an occupied duplex and the option to add dwelling units on the R-2 lot.
Key Highlights
- Fully leased duplex with long‑term tenants in both units
- Both units have recently renewed leases, supporting immediate rental occupancy
- Duplex built in 1940
Financial Insights For Multifamily LT 5
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 | $41.7k | $21.60 |
| − Vacancy | −$2.6k | −$1.33 |
| EGI | $39.2k | $20.27 |
| − OpEx | −$11.7k | −$6.08 |
| NOI | $27.4k | $14.19 |
1,932 SF · lease $21.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$391.6K
$342.6K – $456.8K
NOI $27,409 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$357.7K
$313.0K – $417.3K
NOI $25,037 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$622.4K
$544.6K – $726.1K
NOI $43,566 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Fully leased duplex with long-term, recently renewed tenants on an R-2 zoned lot with room for expansion.
Where is this duplex located?
The property is located at 1238 CONLEY STREET Orlando, FL.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Fully leased duplex with long‑term tenants in both units; Both units have recently renewed leases, supporting immediate rental occupancy; Duplex built in 1940
