Renovated Triplex with Additional
For Sale
$760,000
2008 PAGE Avenue, Orlando, FL 32806
Residential Income, ORLANDO, FL
Property Size1,934 SF
Lot Size0.25 Acres
Price / SF$392.97
Days on Market189
Property Features for 2008 PAGE Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-3
Interior features
Ceiling Fans(s)
Appliances
Microwave, Range, Refrigerator
Subdivision
CLOVER HEIGHTS
Elementary school
Lake Como Elem
Middle school
Conway Middle
Directions
From Downtown Orlando take Orange Ave, left on Kaley Ave, right on Bumby Ave, right on Page Ave.
Standard status
Active
APN
06-23-30-1420-02-111
Size
1,934 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
CLOVER HEIGHTS H/95 THE E 66.5 FT OF N 55 FT LOT 11 & E 66 1/2 FT OF LOT 12 BLKB
Tax Annual Amount
5531
Legal Description
CLOVER HEIGHTS H/95 THE E 66.5 FT OF N 55 FT LOT 11 & E 66 1/2 FT OF LOT 12 BLKB
Utilities
Sewer type
Septic Tank
Heating system
Central, Ductless (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s), Central Air
Water source
Public
Building Details
Year built
1946
Floors in Building
1
Number of units
3
Flooring type
Tile - Ceramic, Laminate, Vinyl
Building materials
Frame
Roof type
Shingle
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Andres Ospina Rivera · License #3293879
(321) 821-8446
Added: Feb 21
Changed: Aug 28
Last Checked: Aug 29 at 7:06PM
MLS# O6384585
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,934-square-foot triplex property was built in 1946 on a 0.25-acre lot and includes a five-bedroom, three-bathroom primary residence. The improvements feature upgraded appliances, sleek countertops, ceramic tile, laminate, and vinyl flooring, along with a kitchen offering dedicated storage. A rear in-law suite or additional unit has its own entrance, providing a distinct secondary space within the property.
The property is located in Orlando, Florida, near downtown Orlando, with access to major highways, shopping, dining, and local attractions. It is zoned R-3 and served by public water and a septic tank. Construction is frame with a shingle roof, and heating and cooling include central systems along with ductless, wall, and window units.
The property is located in Orlando, Florida, near downtown Orlando, with access to major highways, shopping, dining, and local attractions. It is zoned R-3 and served by public water and a septic tank. Construction is frame with a shingle roof, and heating and cooling include central systems along with ductless, wall, and window units.
Key Highlights
- 1934 square feet on a 0.25‑acre lot
- Zoned R‑3 for residential use
- Five‑bedroom, three‑bathroom primary residence
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
$27,438
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
3.61%
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%
$548,760
$548.8K
Cap Rate 7%
$391,971
$392.0K
Cap Rate 9%
$304,867
$304.9K
Market Conditions
NOI Build-Up for 1,934 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
$41.8K $21.60/SF
− Vacancy
−$2.6K −$1.33/SF
EGI
$39.2K $20.27/SF
− OpEx
−$11.8K −$6.08/SF
NOI
$27.4K $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%
$548,760
Cap Rate 7%
$391,971
Cap Rate 9%
$304,867
Alternative Uses
Best Use
Multifamily LT 5
$392.0K
$343.0K – $457.3K
NOI $27,438 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$358.0K
$313.3K – $417.7K
NOI $25,063 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$623.0K
$545.1K – $726.9K
NOI $43,611 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
638
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 - Updated residential property with a separate-entry in-law suite, modern kitchen finishes, and central heating and cooling.
Where is this triplex located?
The property is located at 2008 PAGE Avenue Orlando, FL.
What is the asking price?
The asking price for this property is $760,000.
What are key features of this property?
This property features: 1934 square feet on a 0.25‑acre lot; Zoned R‑3 for residential use; Five‑bedroom, three‑bathroom primary residence
