41 Units

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Highlights: This property was built in 1966, however all (41) units underwent a full interior and exterior renovation 2016. The renovation included new windows, doors and roofing as well as full mechanical upgrades. Unit interiors received new kitchen and bath countertops, new appliances, luxury vinyl flooring and new fixtures. The property is in a top tier residential Orlando neighborhood that is Ideally located under fifteen minutes to Interstate-4, Camping World Stadium, and Downtown Orlando. Half an hour to the University of Central Florida, Disney, and Orlando International Airport.

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Repositioning: The property will be acquired for $3,350,000. The complex has no vacancies however the current rent roll is substantially below the market average due to the property’s lack of proper amenities. Improvements will primarily focus on the amenities and will include a new pool and grilling area, as well as improved signage and landscaping. Total Improvement budget will be $240,000. An increase in rent to market level will yield an increase of NOI of $42,000 which will yield an increase in value of $714,000.

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