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College Park Income Property

2515 FORMOSA AVENUE Orlando, FL 32804

2515 FORMOSA AVENUE, Orlando, FL, 32804

$575,000

For Sale

$575,000

Full duplex with attached efficiency unit in College Park.

Property Size1,756 SF

Price / SF$327.45

AddedApr 29, 2025

Days on Market444

Last RefreshJul 16 at 6:37 am

Property Features for 2515 FORMOSA AVENUE

General Information

Standard status: Active
Size: 1,756 SF
Property subtype: Multi Family

Building Details

Year Built: 1958

Listing office BHHS FLORIDA REALTY

Listing date Apr 29, 2025

Source Exitrealty

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 BHHS FLORIDA REALTY

Investment Insights

Based on property information with market context.

Located in the heart of College Park, this property features a full duplex consisting of two units, each with 2 bedrooms and 1 full bath. An attached efficiency unit provides an additional income stream, bringing the total to three income-producing units. The building features a recent roof replacement and hard surface flooring in all units, consisting of either ceramic tile or terrazzo. Situated on a corner lot, the property is located minutes from shopping, restaurants, Advent Health on Rollins, Downtown College Park, and Downtown Orlando. The property size is 1756 square feet. The ongoing new construction in the surrounding area suggests positive future prospects for this property.

Key Highlights

Three income‑producing units, including two 2‑bedroom/1‑bath units and one efficiency unit.
Recent roof replacement.
Hard surface flooring throughout (ceramic tile or terrazzo).

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$37.9k	$21.60
− Vacancy	−$2.3k	−$1.33
EGI	$35.6k	$20.27
− OpEx	−$10.7k	−$6.08
NOI	$24.9k	$14.19

1,756 SF · lease $21.60/SF/yr · vacancy 6.17% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$355.9K

$311.4K – $415.2K (±1% cap)

NOI $24,913 @ 7.0% cap · market cap 4.33%

Second Best

Apartment 5plus

$325.1K

$284.5K – $379.3K (±1% cap)

NOI $22,756 @ 7.0% cap · market cap 3.96%

Theoretical Best

Office A

$565.7K

$495.0K – $660.0K (±1% cap)

NOI $39,597 @ 7.0% cap · market cap 6.89%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

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For sale
Duplexes
FL
Orlando
32804
2515 FORMOSA AVENUE

What type of property is this?

Duplex - Full duplex with attached efficiency unit in College Park.

Where is this duplex located?

The property is located at 2515 FORMOSA AVENUE Orlando, FL.

What is the asking price?

The asking price for this property is $575,000.

What are key features of this property?

This property features: Three income‑producing units, including two 2‑bedroom/1‑bath units and one efficiency unit.; Recent roof replacement.; Hard surface flooring throughout (ceramic tile or terrazzo).