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4697 Rose Coral Dr, Orlando, FL 4653 Stag Horn Dr, Orlando, FL
Orlando Terrace Apartments
Asset ClassMultifamily
# Units165
overview of deal

Overview

On behalf of ownership, GREA extends to qualified investors the opportunity to acquire the fee simple interest in Orlando Terrace Apartments, at 165-unit property situated in the Orlando Pine Hills section of Orlando, Florida.

 

Built in 1988, Orlando Terrace is comprised of (23) one-story buildings set on a ±9-acre site. There is an excellent unit mix of (105) one-bedroom/one-bath units, (13) two-bedroom/two-bath units, (13) two-bedroom/one-bath units, and (34) studios. The modern units feature spacious floor plans, new kitchen appliances, vinyl plank flooring and plush carpeting (select units), ample cabinet and counter space, baths with tub/shower combo, spacious closets, vaulted ceilings in living rooms, fenced-in private patio, and semi-private entry.

 

Orlando Terrace presents a value-add opportunity for a new owner to increase rents up to 15%. Currently, in-place rents are below market. The one-bedroom/one-bath units post an average rent of $1,168, the two-bedroom/one-bath units are at $1,423, the two-bedroom/two bath units are at $1,393, and the studio units are at $1,041 allowing room for rental increases based on submarket trends. Additionally, a new owner can complete unit renovations and bring rents to market rates at lease renewal and turnover.

 

The property has an assumable loan of $14,900,000 at 6.36% with 5 years remaining. All monthly payments are interest only, and the loan has the following parameters: maximum loan-to-value of 65% and a minimum debt yield of 9.00%. Loan docs available upon request.

 

Orlando Terrace is located approximately 15 minutes from Downtown Orlando. Its proximity to Interstate 4 provides tenants with convenient access to the major employment hubs in Orlando Walt Disney World Resort, Orlando International Airport, University of Central Florida, and Orlando Regional Medical Center.

 

The property offers potential for rental increases based on submarket trends, presenting an attractive opportunity for investors to get a great return on their capital.

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Investment Highlights

Highly Desirable Unit Mix

  • Mix of Studio’s, One & Two-Bedroom Units;

Abundant Community Amenities

  • Pool and Sun Deck, Storage Options, Balconies/Patios

Ease of Management

  • 165 Garden-Style Units in Single Community Allowing Ownership to Operate Efficiently without the Burden of Costly Personnel

Excellent Location

  • Driving Distance to Downtown Orlando and the Disney Theme Parks

Access to Major Highways

  • Convenient to Interstates 4, 75, and 275 as well as Routes 41 and 92

Strong Market Fundamentals

  • Orlando Market has Experienced Strong Market Conditions in Recent Years and Continues to Attract New Residents and Businesses
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4697 Rose Coral DrOrlando, FL 32808

Contacts

KENNETH WELLAR

License #: FL SL3494744

215-454-2879ken.wellar@GREA.COM
JESUS "MANDO" DE ARMAS

License #: FL BK 3111661

786-486-9462mando.dearmas@GREA.COM
MAX WALLACE

License #: FL SL3597991

610-755-1070max.wallace@GREA.COM
TAYLOR WALSH

License #: FL SL3601555

609-504-5247taylor.walsh@GREA.COM
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Listing provided by Revere CRE