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Florida Apartment Buildings For Sale in Orlando

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Asking Price: Best Offer

The Deal terms are not currently defined. Contact us to request your own specific terms when submitting a non-binding offer.

Property Details

Property Type – Multifamily
Investment – Class A Apartments
Square Footage – 233,047
Occupancy – 97.4%
NOI -$1,185,567
Pro-Forma NOI – $1,733,038
Units -195
Year Built – 1999
Year Commercial Property was Renovated – 2006
This Florida Multi-Family Investment consists of 15 Buildings

We are pleased to present the Grand Reserve at Kirkman Parke. This fractured Florida condominium portfolio for sale consists of 195 out of 390 resort style apartment units which accounts for 50% of the condominium. This value add investment offers the opportunity to acquire a stabilized asset in the desirable Metro West area with immediate upside by increasing rents to comparable area market rates, upgrading units, and reducing condominium assessment fees. New ownership will have majority control of the Condominium Association Board, allowing direct input on budgetary, commercial and operational decisions.

INVESTMENT PROPERTY HIGHLIGHTS
  • Stabilized Asset with over 97% occupancy
  • Below market rents offering immediate rent upside
  • Effective rents are at 15% below market rate
  • Value Add opportunity through minor but strategic upgrades
  • Class “A” Asset
  • A Majority 50% Stake Condominium Ownership
  • High barrier of entry location
  • Resort Style Amenities with Millions in Investments
  • Excellent proximity to major highways such as Interstate 4 and Florida’s Turnpike.
  • Proximity to largest employers in Orlando, FL
  • Minutes from Orlando Attractions and Universities
  • One of the highest job growth areas in the country

Listing information courtesy of TIR Prime Properties. All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale. Availability of any listing should always be independently verified. Listing information is provided for consumer personal, solely to identify potential properties for potential purchase.

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