517 Summerlin Ave Orlando, FL 32801
- Residential income homes
- 800 SF
Current Use by Public Records
- Residential income homes
Property Details for 517 Summerlin Ave
- Property size
- 800 SF
- Property type
- Residential income homes
Description
This exceptional multifamily investment opportunity comprises nine units across four buildings in desirable Orlando, FL (zip codes 32801 and 32803). The portfolio includes three duplexes and one triplex, offering a diverse mix of unit sizes and layouts. Building ages range from 1925 to 1979, with renovations completed in 2006 and 2018. The properties boast a current NOI of $156,000 and a pro-forma NOI of $179,300, translating to a current cap rate of 5.71% and a pro-forma cap rate of 6.57%. The current occupancy is 100%. Unit sizes range from 800 to 1100 square feet, featuring updated kitchens and bathrooms in many units. Several units include desirable features such as brick fireplaces, private porches, fenced courtyards, and off-street parking. The properties are situated in a prime location, close to downtown Orlando, the YMCA, shops, restaurants, and schools (Blankner K-8 and Boone High School). The asking price is $2,730,000, representing a price per unit of $303,333. The zoning is R2/R3, allowing for flexibility in future use. Significant rental upside potential exists due to comparable rents exceeding current rental income. This portfolio presents a compelling investment opportunity with strong cash flow and growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Orlando
- County
- Orange
- State
- Florida
- Longitude
- -81.3679
- Latitude
- 28.5359
