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| GRN| Orlando, FL |
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| Orlando, FL |
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| Purchase Price |
$2,500,000 |
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| Cap Rate |
5.85% |
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| Property Type |
Residential |
| Rentable Square Feet |
54,422 |
| Price per RSF |
$45.94 |
| Number of Tenants |
63 |
| | | Property Description |
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49 Units out of 336.
Project was built in phases, last phase in 2000.
Located in one of the most desirable locations in Orlando,
Disney - 18 miles away, Mall at Milania, Sea World and other major employment bases are all withing a few miles away.
Comparable units sell for $69 / SF or an average of 75,000 per unit.
Property appraiser value - 1 BD - $90,000, 2 BD - $125,000.
Estimated closing price - $2.5M or less than $40,000 per unit.
All units in this project were selling for $250,000 - $400,000 per unit in 2006.
Agressive rental will get this project to 10% vacancy in less than 12 months and will produce :
Demographics shows an average household income of $49,000,
97,000 people in living in the 3 mile radius, 55% renter occupied and 8.5% vacancy and 9.5% unemployment.
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| Presented To You By |
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Sean Glickman, CIPS TRC CSP
561-488-7766
seanglickman@gmail.com
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STIRLING SOTHEBY'S
INTERNATIONAL REALTY |
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The information above has been obtained from sources believed reliable. While
we do not doubt its accuracy we
have not verified it and make no guarantee, warranty or representation about
it. It is your responsibility to independently confirm its accuracy and
completeness. Any projections, opinions, assumptions, or estimates used are for
example only and do not represent the current or future performance of the
property.
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