Downtown Orlando Renovated
For Sale
$839,000
510 N SUMMERLIN Ave, Orlando, FL 32803
Charming triplex in Downtown Orlando, renovated in 2021.
Property Size1,903 SF
Lot Size0.12 Acres
Days on Market220
Property Features for 510 N SUMMERLIN Ave
General Information
Standard status
Active
Size
1,903 SF
Lot size
0.12 Acres
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$6,672
Building Details
Building Size
1,903 SF
Year Built
1925
Units
3
Listing Agency:
OLDE TOWN BROKERS INC
Listed By:
Parker Blanchard · License #3460165
(407) 802-7337
Source:
Elliman
Added: Mar 10
Changed: Oct 15
Last Checked: Oct 14 at 11:11PM
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 OLDE TOWN BROKERS INC
Investment Insights
Based on property information with market context.
This triplex, located in Downtown Orlando, features three 1-bedroom, 1-bathroom units. All three units were renovated in 2021 and include updated kitchens, modern finishes, newly installed AC systems, and full-size in-unit laundry. Unit 3 has a private second-floor screened balcony. The property is located near dining, entertainment, Lake Eola Park, and major downtown employers.
Key Highlights
- Fully renovated in 2021: Enjoy updated kitchens and modern finishes in these move‑in ready units.
- Prime Downtown Orlando location: Steps from dining, entertainment, Lake Eola Park, and major employers.
- Three 1‑bedroom, 1‑bathroom units: Ideal for investors or owner‑occupancy with rental income potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,998
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$539,960
$540.0K
Cap Rate 7%
$385,686
$385.7K
Cap Rate 9%
$299,978
$300.0K
Market Conditions
NOI Build-Up for 1,903 SF
Gross rent
$41.1K $21.60/SF
− Vacancy
−$2.5K −$1.33/SF
EGI
$38.6K $20.27/SF
− OpEx
−$11.6K −$6.08/SF
NOI
$27.0K $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 Rate 5%
$539,960
Cap Rate 7%
$385,686
Cap Rate 9%
$299,978
Alternative Uses
Best Use
Multifamily LT 5
$385.7K
$337.5K – $450.0K
NOI $26,998 @ 7.0% cap · market cap 3.22%
Second Best
Apartment 5plus
$352.3K
$308.3K – $411.0K
NOI $24,661 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$613.0K
$536.4K – $715.2K
NOI $42,912 @ 7.0% cap · market cap 5.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,044
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Charming triplex in Downtown Orlando, renovated in 2021.
Where is this triplex located?
The property is located at 510 N SUMMERLIN Ave Orlando, FL.
What is the asking price?
The asking price for this property is $839,000.
What are key features of this property?
This property features: Fully renovated in 2021: Enjoy updated kitchens and modern finishes in these move‑in ready units.; Prime Downtown Orlando location: Steps from dining, entertainment, Lake Eola Park, and major employers.; Three 1‑bedroom, 1‑bathroom units: Ideal for investors or owner‑occupancy with rental income potential.
