Orlando Terrace | 64 Units | Orlando, Fl
4697 Rose Coral Dr,
Orlando,
FL 32808
Orlando Terrace Apartments is a 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 by 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: a maximum loan-to-value of 65% and a minimum debt yield of 9.00%. Loan docs are available upon request.Orlando Terrace is located approximately 15 minutes from Downtown Orlando. Its proximity to Interstate 4 provides tenants 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. Offers Due by September 18, 2024
Contact
|
Broker or Owner Contact
Ken
Wellar
GREA
,
Phone:
ken.wellar@grea.com
|
ED Contact
Robert
Collins
Orlando Utilities Commission
100 W Anderson St
Orlando,
FL
32801
Phone: (407) 423-9100
rcollins@ouc.com
|
|
Building
| Property ID |
a2815f43-3ad7-44df-81fa-ed83afb6ae75 |
| Building Size |
|
| Site Size (acres) |
|
| Zoning |
|
| Year Built |
|
| Number of Drive-In Doors |
|
| Number of Dock-In Doors |
|
| Clearance Height |
|
|
| Drive-in Doors |
no |
| Sprinklered |
no |
| Parking Ratio |
0 |
| Updated |
|
| Number of Parking Spaces |
|
| Parking |
no |
| HVAC |
|
|
Pricing
| For Sale |
yes |
| Sale Price |
22000000 |
| For Lease |
no |
| Lease Type |
|
| Lease Cost |
0 |
|
Geographic and Infrastructure
| Latitude |
28.5762774 |
| Longitude |
-81.4426092 |
| County |
Orange County |
| Rail Access |
no |
|
Utilities
| Service to Property |
no |
| Electric Provider |
|
| Gas On Site |
no |
| Gas Provider |
|
| Water On Site |
no |
| Water Provider |
|
|
| Fiber Optics |
no |
| Telecom on Site |
no |
| Sewer On Site |
no |
| Sewer provider |
|
|
Unused Data Points
| status |
active |
| businesspark |
|
| buildingtypes |
|
| contiguous |
|
| divisiblefrom |
|
| saleprice |
22000000 |
| pricepersf |
|
| dockhigh |
|
| divisible |
|
| loadbearing |
|
| multitenant |
|
| shovelready |
|
| landtypes |
|
| ownership |
|
| networked |
|
| phase1 |
|
| airportzone |
|
| revitalizationarea |
|
| tif |
|
| enterprisezone |
|
| floodplain |
|
| created |
|
| updatedby |
|
| custom1 |
|
| custom2 |
|
| custom3 |
|
| custom4 |
|
| custom5 |
|
| custom6 |
|
| custom7 |
|
| custom8 |
|
| custom9 |
|
| custom10 |
|
| custom11 |
|
| custom12 |
|
| custom13 |
|
| custom14 |
|
| custom15 |
|
| custom16 |
|
| custom17 |
|
| custom18 |
|
| custom19 |
|
| custom20 |
|
| thumbnail |
https://storage.googleapis.com/simplifi-dev/images/a2815f43/orlando-terrace-b8e61fbc-thumb.jpg |
| image1 |
https://storage.googleapis.com/simplifi-dev/images/a2815f43/orlando-terrace-b8e61fbc.jpg |
| image2 |
https://storage.googleapis.com/simplifi-dev/images/a2815f43/orlando-terrace-9fdc1d6f.jpg |
| image3 |
|
| image4 |
|
| download1 |
|
| download2 |
|
| download3 |
|
| download4 |
|
| cranes |
|
| maxcontig |
|
| buildableacres |
|
| callCenter |
|
| columnSpacing |
|
| dataCenter |
|
| heatType |
|
| septicOnSite |
|
| sprinklerType |
|
| topography |
|
| warehouseSF |
|
| wetlands |
|
| addlacreageavail |
|
| airconditioned |
|
| electricamps |
|
| rentalrateannual |
|
| baylength |
|
| baywidth |
|
| expansiondate |
|
| dslavailable |
|
| officeareasf |
|
| pricenegotiable |
|
| sewermainsize |
|
| heated |
|
| salepriceunits |
|
| watermainsize |
|
| electricvolts |
|
| expandableYesNo |
|
| floorThickness |
|
| gaspsi |
|
| gasmainsize |
|
| electricPhase |
|
| cranesUnderHook |
|
| refrigeratedSF |
|
| docksLevel |
|
| isContiguous |
|
| overrideimport |
|
| createdBy |
|
| description_lower_first |
|