Two-Residence Multifamily
For Sale
$699,990
3701 Virginia Drive, Orlando, FL 32803
Two residences share one parcel, with a private-entry detached unit and extensive system updates.
Property Size2,044 SF
Price / SF$342.46
Days on Market60
Property Features for 3701 Virginia Drive
General Information
Standard status
Active
Size
2,044 SF
Property subtype
Multi-family
Building Details
Year Built
1954
Listing Agency:
KELLER WILLIAMS WINTER PARK
(954) 804-7579
Listed By:
Liam Glover PA · License #3526590
Source:
Realtygroupfl
Added: Jun 7
Changed: Aug 1
Last Checked: Aug 5 at 5:33AM
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 KELLER WILLIAMS WINTER PARK
Investment Insights
Based on property information with market context.
This multifamily property combines a 1,420-square-foot main residence with a detached 688-square-foot accessory dwelling unit on one parcel. The primary home includes three bedrooms, two bathrooms, a split floor plan, dual built-in ovens, porcelain tile flooring, and a renovated primary bathroom with dual vanities and LED shower lighting. The separate one-bedroom, one-bathroom unit includes a full kitchen, laundry utility room, and private entrance.
Major improvements include a 2021 roof, 2024 windows, 2022 HVAC system and ductwork, and a 2025 refrigerator in the main residence. The ADU received a 2025 roof and mini-split system, along with a 2026 bathroom exhaust fan. Both homes feature dimmable lighting controls and a comprehensive security system. A fully fenced backyard includes raised garden beds, vegetable gardens, and outdoor entertaining space.
The property is located at 3701 Virginia Drive in Orlando’s Audubon Park Garden District, within blocks of Domu and Kelly’s Homemade Ice Cream, local shops, breweries, and parks.
Major improvements include a 2021 roof, 2024 windows, 2022 HVAC system and ductwork, and a 2025 refrigerator in the main residence. The ADU received a 2025 roof and mini-split system, along with a 2026 bathroom exhaust fan. Both homes feature dimmable lighting controls and a comprehensive security system. A fully fenced backyard includes raised garden beds, vegetable gardens, and outdoor entertaining space.
The property is located at 3701 Virginia Drive in Orlando’s Audubon Park Garden District, within blocks of Domu and Kelly’s Homemade Ice Cream, local shops, breweries, and parks.
Key Highlights
- Two residences totaling 2,108 square feet on one parcel
- Main home offers 3 bedrooms, 2 bathrooms, and a split floor plan
- Detached 688‑square‑foot ADU includes 1 bedroom, 1 bathroom, full kitchen, and private entrance
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $51.5k | $25.20 |
| − Vacancy | −$3.3k | −$1.64 |
| EGI | $48.2k | $23.56 |
| − OpEx | −$21.7k | −$10.60 |
| NOI | $26.5k | $12.96 |
2,044 SF · lease $25.20/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$378.4K
$331.1K – $441.5K
NOI $26,488 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$658.4K
$576.1K – $768.2K
NOI $46,091 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,627
Businesses Nearby
Explore this area
Business Placement
Demographics for 32803, FL
21,003
Population
12,225
Households
1.7
Avg Household Size
38
Median Age
59%
College-Educated
96%
High-School Grad
6.8 sq mi
ZIP Area
3,089
Density / Sq Mi
$101,401
Median Household Income
$61,439
Median Earnings
$1,823
Median Rent
$421,300
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?
Multifamily property - Two residences share one parcel, with a private-entry detached unit and extensive system updates.
Where is this multifamily property located?
The property is located at 3701 Virginia Drive Orlando, FL.
What is the asking price?
The asking price for this property is $699,990.
What are key features of this property?
This property features: Two residences totaling 2,108 square feet on one parcel; Main home offers 3 bedrooms, 2 bathrooms, and a split floor plan; Detached 688‑square‑foot ADU includes 1 bedroom, 1 bathroom, full kitchen, and private entrance
