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Multifamily

Concord Street Portfolio

129 E Concord St, Orlando, FL 32801

Listing Price: $3,500,000

Cap Rate
4.58%
Number of Units
19
Price/Unit
$184,211
Price/Gross SF
$252.71
Gross SF
13,850

Investment Overview

19-unit multifamily portfolio located in the heart of Downtown Orlando Metro Orlando saw 46% growth in new businesses year-over-year which was the best in the U.S.

Investment Highlights

  • The portfolio consists of three properties, two of which are adjacent with the other directly across the street
  • Seller recently completed more than $1 million in unit interior and exterior renovations in two of the three buildings, including new roofs and new paint
  • Potential to increase rents in the renovated units up to $550 per unit and up to $800 per unit in unrenovated units
  • Potential to achieve more than a 5.5% cap rate in Year Two after strategic renovations and rent increases
  • Two buildings were fully renovated down to the studs with new sheet rock, LED recessed lighting, granite countertops, new kitchens with high-end appliances, new bathrooms & vanities, flooring, wiring, plumbing, HVAC systems & ducts
  • Located within walking distance of all major downtown attractions including Amway Center, Exploria Stadium, Orange County Courthouse, Lynx Central Station and numerous bars and restaurants
  • The Orlando metro area has grown over 25% in the last ten years
  • Orlando is the nation's fastest growing big city for entrepreneurs according to LinkedIn's state of Entrepreneurship

Exclusively Listed By

Multifamily

Concord Street Portfolio

Listing Price: $3,500,000

Cap Rate
4.58%
Number of Units
19
Price/Unit
$184,211
Price/Gross SF
$252.71
Gross SF
13,850

Investment Highlights

  • The portfolio consists of three properties, two of which are adjacent with the other directly across the street
  • Seller recently completed more than $1 million in unit interior and exterior renovations in two of the three buildings, including new roofs and new paint
  • Potential to increase rents in the renovated units up to $550 per unit and up to $800 per unit in unrenovated units
  • Potential to achieve more than a 5.5% cap rate in Year Two after strategic renovations and rent increases
  • Two buildings were fully renovated down to the studs with new sheet rock, LED recessed lighting, granite countertops, new kitchens with high-end appliances, new bathrooms & vanities, flooring, wiring, plumbing, HVAC systems & ducts
  • Located within walking distance of all major downtown attractions including Amway Center, Exploria Stadium, Orange County Courthouse, Lynx Central Station and numerous bars and restaurants
  • The Orlando metro area has grown over 25% in the last ten years
  • Orlando is the nation's fastest growing big city for entrepreneurs according to LinkedIn's state of Entrepreneurship

Investment Overview

19-unit multifamily portfolio located in the heart of Downtown Orlando Metro Orlando saw 46% growth in new businesses year-over-year which was the best in the U.S.

Exclusively Listed By

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