Triplex with Independent
For Sale
$875,000
1829 HOLLENBECK DR, Orlando, FL 32806
Three separately accessed living spaces offer flexible residential configuration with shared laundry and on-site parking.
Property Size2,496 SF
Days on Market173
Property Features for 1829 HOLLENBECK DR
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,988
Amenities
shared laundry area
Building Details
Building Size
2,496 SF
Year Built
1930
Listing Agency:
LPT REALTY, LLC
(321) 821-8446
Listed By:
Andres Ospina Rivera · License #3293879
Source:
Novaorlando
Added: Feb 26
Changed: Aug 13
Last Checked: Aug 18 at 6:15AM
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 LPT REALTY, LLC
Investment Insights
Based on property information with market context.
Built in 1930, this triplex provides three self-contained residential units within one property. The layout includes six bedrooms and three bathrooms overall, with each unit offering its own entrance for separation and privacy. The primary residence includes bedrooms, a living area, and a fully equipped kitchen.
Shared laundry serves the property, and on-site parking is available. The property is located at 1829 Hollenbeck Dr in Orlando, Florida 32806, with access to shopping, dining, and transportation identified in the listing information.
Shared laundry serves the property, and on-site parking is available. The property is located at 1829 Hollenbeck Dr in Orlando, Florida 32806, with access to shopping, dining, and transportation identified in the listing information.
Key Highlights
- Three independent residential units, each with its own entrance
- Six bedrooms and three bathrooms across the property
- Built in 1930
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,411
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$708,220
$708.2K
Cap Rate 7%
$505,871
$505.9K
Cap Rate 9%
$393,456
$393.5K
Market Conditions
NOI Build-Up for 2,496 SF
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.
Gross rent
$53.9K $21.60/SF
− Vacancy
−$3.3K −$1.33/SF
EGI
$50.6K $20.27/SF
− OpEx
−$15.2K −$6.08/SF
NOI
$35.4K $14.19/SF
Area
Orlando, FL
Vacancy
6.17%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$708,220
Cap Rate 7%
$505,871
Cap Rate 9%
$393,456
Alternative Uses
Best Use
Multifamily LT 5
$505.9K
$442.6K – $590.2K
NOI $35,411 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$462.1K
$404.3K – $539.1K
NOI $32,346 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$804.0K
$703.5K – $938.1K
NOI $56,283 @ 7.0% cap · market cap 6.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,254
Businesses Nearby
Explore this area
Business Placement
Demographics for 32806, FL
26,582
Population
12,529
Households
2.1
Avg Household Size
40
Median Age
55%
College-Educated
95%
High-School Grad
6.8 sq mi
ZIP Area
3,909
Density / Sq Mi
$86,653
Median Household Income
$54,012
Median Earnings
$1,500
Median Rent
$415,800
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?
Triplex - Three separately accessed living spaces offer flexible residential configuration with shared laundry and on-site parking.
Where is this triplex located?
The property is located at 1829 HOLLENBECK DR Orlando, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Three independent residential units, each with its own entrance; Six bedrooms and three bathrooms across the property; Built in 1930
