1304 Altaloma Ave Orlando, FL 32803
- Residential income homes
- 4,489 SF
Current Use by Public Records
- Residential income homes
Property Details for 1304 Altaloma Ave
- Year built
- 1962
- Property size
- 4,489 SF
- Property type
- Residential income homes
Description
This exceptional value-add opportunity presents a four-unit multifamily property situated on a 14,050 sq ft lot in Orlando's desirable Mills50 District. The property, built in 1962, comprises two duplexes, each featuring two bedrooms and one bathroom, totaling 4,489 square feet. Three units have been recently updated, offering immediate income generation. The property boasts a 6.23% cap rate and a current NOI of $71,700, with 100% occupancy. Each unit includes two parking spaces. The asking price is $1,150,000 ($287,500 per unit, $256.18 per square foot). The property is zoned R-2A/T/SP and features 3,100 square feet of available air rights. Its prime location provides easy access to major roadways, including I-4 and the 408 Expressway, placing tenants within close proximity to Ivanhoe Village, the Milk District, and Audubon Park. Currently rented below market value, this property offers significant potential for rental income growth. The seller is open to partnership opportunities for redevelopment. Electric meters are separately metered for each unit. This concrete block construction offers a solid foundation for a strong return on investment.
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
- -81.3597575
- Latitude
- 28.5626187
