Five-Home Multifamily
For Sale
$750,000
Pending
626 MARVIN C ZANDERS AVENUE, Apopka, FL 32703
The homes feature updated kitchens, bathrooms, flooring, and roofs.
Property Size2,850 SF
Days on Market528
Property Features for 626 MARVIN C ZANDERS AVENUE
General Information
Standard status
Pending
Size
2,850 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$3,438
Building Details
Year Built
1942
Listing Agency:
REGENCY REAL ESTATE LLC
(321) 655-4881
Listed By:
Evelyn Tejada · License #3533706
(321) 655-4881
Source:
Exitrealty
Added: Mar 22, 2025
Changed: Aug 30
Last Checked: Aug 30 at 9:13PM
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 REGENCY REAL ESTATE LLC
Investment Insights
Based on property information with market context.
Located at 626 Marvin C Zanders Avenue in Apopka, this multifamily property comprises five individual homes on a 0.81-acre parcel. The unit mix includes two two-bedroom, one-bath homes and three one-bedroom, one-bath homes, with a total property size of 2,850 square feet. The improvements date to 1942 and include renovated kitchens and bathrooms, updated flooring, and new roofs.
Each home has its own address and separate utility meters, while all five units are leased to long-term tenants. The property is positioned near downtown Apopka, shopping, dining, and major highways.
Each home has its own address and separate utility meters, while all five units are leased to long-term tenants. The property is positioned near downtown Apopka, shopping, dining, and major highways.
Key Highlights
- Five homes situated on 0.81 acres
- Unit mix includes two 2‑bed, 1‑bath homes and three 1‑bed, 1‑bath homes
- All 5 units are leased with long‑term tenants
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
$34,999
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
4.67%
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%
$699,980
$700.0K
Cap Rate 7%
$499,986
$500.0K
Cap Rate 9%
$388,878
$388.9K
Market Conditions
NOI Build-Up for 2,850 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
$68.1K $23.88/SF
− Vacancy
−$4.4K −$1.55/SF
EGI
$63.6K $22.33/SF
− OpEx
−$28.6K −$10.05/SF
NOI
$35.0K $12.28/SF
Area
Orange County, FL
Vacancy
6.50%
Lease Rate
$23.88 /SF/Yr
Expense Ratio
45.00%
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%
$699,980
Cap Rate 7%
$499,986
Cap Rate 9%
$388,878
Alternative Uses
Best Use
Apartment 5plus
$500.0K
$437.5K – $583.3K
NOI $34,999 @ 7.0% cap · market cap 4.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$811.0K
$709.7K – $946.2K
NOI $56,772 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
Explore this area
Business Placement
Demographics for 32703, FL
54,805
Population
22,033
Households
2.5
Avg Household Size
37
Median Age
29%
College-Educated
87%
High-School Grad
32.1 sq mi
ZIP Area
1,707
Density / Sq Mi
$70,338
Median Household Income
$42,031
Median Earnings
$1,579
Median Rent
$314,800
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?
Multifamily property - The homes feature updated kitchens, bathrooms, flooring, and roofs.
Where is this multifamily property located?
The property is located at 626 MARVIN C ZANDERS AVENUE Apopka, FL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Five homes situated on 0.81 acres; Unit mix includes two 2‑bed, 1‑bath homes and three 1‑bed, 1‑bath homes; All 5 units are leased with long‑term tenants
