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- LoopNet Team
701 S Ivey Ln
Orlando, FL 32811
Orlando on the Lake · Multifamily Property For Sale
·
189 Units
INVESTMENT HIGHLIGHTS
- 189-Unit Lakefront and Gated Community Located in Orlando, Florida, Featuring Brick Exterior Construction with Concrete Subfloor
- 83% of the Units Are Two- and Three-Bedroom Floor Plans
- Immediate Ability to Stabilize Property’s Loss-to-Lease and Recapture $255,000 of Rental Income
- 97% of the Community Has Been Upgraded in the Last Seven Years With Newer Kitchen Cabinetry, Granite Countertops, Tile Flooring, Newer Appliances
- The West Orlando Submarket 2018 Rent Growth of 8.6% Outpaces the Orlando MSA’s of 5% and Far Surpasses the National Average of 1.3%
- The Property is Located in a Designated Opportunity Zone With Tax Benefits
PROPERTY FACTS
| No. Units | 189 | Lot Size | 16.25 AC |
| Property Type | Multifamily | Building Size | 151,230 SF |
| Property Subtype | Apartment | Average Occupancy | 83% |
| Apartment Style | Garden | No. Stories | 2 |
| Building Class | C | Year Built | 1974 |
| Zoning | R3A, Orlando | ||
| No. Units | 189 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 16.25 AC |
| Building Size | 151,230 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built | 1974 |
| Zoning | R3A, Orlando |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Washer/Dryer
- Heating
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Walk-In Closets
- Dining Room
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Playground
- Pool
- Property Manager on Site
- Pet Play Area
- Planned Social Activities
- Renters Insurance Program
- Maintenance on site
- Online Services
ABOUT 701 S IVEY LN , ORLANDO, FL 32811
The Cushman & Wakefield Florida Multifamily Advisory Group is pleased to present the exclusive listing of the 189-unit Orlando on the Lake apartment community located in Orlando, Florida. Built in 1974, Orlando on the Lake offers an outstanding value-add opportunity that would result in the ability to raise effective rents $213 and earn a 14% return on investment after implementation of the proposed value-add plan. Please click the link to the Marketing Website to register and gain access to the Document Vault: https://multifamily.cushwake.com/Listings/OrlandoLake
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 33 | - | 674 |
| 2+1 | 105 | - | 774 |
| 3+1 | 51 | - | 968 |
PROPERTY TAXES
| Parcel Number | 32-2229-4600-00-010 | Improvements Assessment | $9,999,789 |
| Land Assessment | $3,125,588 | Total Assessment | $13,125,377 |
PROPERTY TAXES
