Three-Unit Studio
For Sale
$259,900
231 S Orange St, Sebring, FL 33870
Three separate studio residences feature a metal roof and privacy fencing between units.
Property Size1,533 SF
Price / SF$169.54
Days on Market51
Property Features for 231 S Orange St
General Information
Standard status
Active
Size
1,533 SF
Units
Unit Mix
3 x studio
Multifamily Units
3
Additional Details
Highway Access
Yes
Amenities
privacy fencing
Building Details
Year Built
1977
Listing Agency:
ADVANTAGE REALTY 1
Listed By:
Gregory Karlson · License #CQ1035802
(863) 381-4932
Source:
Chenoregroup
Added: Sep 11
Changed: Oct 25
Last Checked: Oct 7 at 5:11PM
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 ADVANTAGE REALTY 1
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Investment Insights
Based on property information with market context.
This triplex contains three independent studio units within a 1,533-square-foot multifamily property constructed in 1977. The improvements include a metal roof and privacy fencing that separates the residences, providing distinct outdoor areas for each unit.
The property is located on S Orange St in Sebring, Florida, with access to area shopping, dining, schools, local services, and major highways. Its three-studio configuration offers a straightforward multifamily layout in an established residential setting.
The property is located on S Orange St in Sebring, Florida, with access to area shopping, dining, schools, local services, and major highways. Its three-studio configuration offers a straightforward multifamily layout in an established residential setting.
Key Highlights
- Three separate studio units
- 1,533 square feet of multifamily space
- Built in 1977
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,846
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,920
$276.9K
Cap Rate 7%
$197,800
$197.8K
Cap Rate 9%
$153,844
$153.8K
Market Conditions
NOI Build-Up for 1,533 SF
Gross rent
$21.2K $13.80/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$19.8K $12.90/SF
− OpEx
−$5.9K −$3.87/SF
NOI
$13.8K $9.03/SF
Area
Highlands County, FL
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,920
Cap Rate 7%
$197,800
Cap Rate 9%
$153,844
Alternative Uses
Best Use
Multifamily LT 5
$197.8K
$173.1K – $230.8K
NOI $13,846 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$183.8K
$160.8K – $214.5K
NOI $12,867 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$318.9K
$279.1K – $372.1K
NOI $22,325 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
886
Businesses Nearby
Explore this area
Business Placement
Demographics for 33870, FL
24,238
Population
13,933
Households
1.7
Avg Household Size
51
Median Age
18%
College-Educated
84%
High-School Grad
95.3 sq mi
ZIP Area
254
Density / Sq Mi
$50,606
Median Household Income
$28,475
Median Earnings
$977
Median Rent
$154,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate studio residences feature a metal roof and privacy fencing between units.
Where is this triplex located?
The property is located at 231 S Orange St Sebring, FL.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Three separate studio units; 1,533 square feet of multifamily space; Built in 1977
