Five-Unit Income Property on
1661 VOTAW Rd, Apopka, FL 32703
For Sale
$1,000,000
Five-unit property on 1.27 acres with immediate rental income.
Property Size5,900 SF
Lot Size1.27 Acres
Price / SF$178.57
Days on Market248
Property Features for 1661 VOTAW Rd
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
DENNY SHIVER REALTY LLC
Listed By:
Denny Shiver · License FL #708246
(407) 625-1503
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:21AM
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
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Investment Insights
Based on property information with market context.
This income-producing property features a five-unit community situated on 1.27 acres. 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, offers 800 square feet with two bedrooms and one bathroom, generating a monthly income of $1,200. Unit C, the other half of the duplex, mirrors Unit B with 800 square feet, two bedrooms, and one bathroom, also producing $1,200 monthly. Unit D, the front half of a duplex, provides 1,800 square feet with three bedrooms, 2.5 bathrooms, and a two-car garage; it has a potential income of $2,500 and is currently vacant. Unit E, the rear half of the duplex, features 1,800 square feet with three bedrooms, two bathrooms, and a carport; it also has a potential income of $2,500 and is presently vacant. Additionally, there is a three-bay stand-alone building that is 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 separated from the street by a block wall and include power and well water. Recent upgrades include a new roof on Units D and E building, a new drain field on Unit D and building, 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 of 5 units.
- High potential annual income of approximately $100,000.
- 1.27‑acre property with a 5‑unit community, offering diverse rental options.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,115
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,382,300
$1.4M
Cap Rate 7%
$987,357
$987.4K
Cap Rate 9%
$767,944
$767.9K
Market Conditions
NOI Build-Up for 5,600 SF
Gross rent
$134.4K $24.00/SF
− Vacancy
−$8.7K −$1.56/SF
EGI
$125.7K $22.44/SF
− OpEx
−$56.5K −$10.10/SF
NOI
$69.1K $12.34/SF
Area
Orange County, FL
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,382,300
Cap Rate 7%
$987,357
Cap Rate 9%
$767,944
Alternative Uses
Best Use
Apartment 5plus
$987.4K
$863.9K – $1.15M
NOI $69,115 @ 7.0% cap · market cap 6.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.68M
$1.47M – $1.96M
NOI $117,821 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
205
Businesses Nearby
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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
$314,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Orange County, FL
Properties on Market for Apartment buildings in Orange County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit property on 1.27 acres with immediate rental income.
Where is this apartment building located?
The property is located at 1661 VOTAW Rd 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 of 5 units.; High potential annual income of approximately $100,000.; 1.27‑acre property with a 5‑unit community, offering diverse rental options.
