75 Units

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Overview: This property is situated in a prime residential location within the desirable northern section of the Orlando MSA.  It offers easy access to downtown Orlando as well as to Disney and Universal.  It also provides easy access to the Route 4 corridor which provides direct access to both the Tampa Bay area as well as the Daytona Beach area.  Four major shopping and entertainment zones are within a five mile radius of the project and several major employment centers, including Amazon’s newest fulfillment center are located within a 10 minute drive making this a highly desirable location.

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The property was originally completed in 1999 and consists of 75 two story townhomes situated on a 13 building, 6-acre site.  All units feature a two-bedroom, two bath layouts.  Each unit features a screened lanai as well as a small balcony outside of each bedroom.

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The current owner did major improvements to the units in 2016 including new cabinetry, tile flooring, fixtures, mechanical upgrades and new appliances.

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Repositioning:  The property will be acquired for $6,250,000. Our research indicates that the community is lacking in certain amenities common to other comparable properties in the area.  This factor combined with substandard management has resulted in a current vacancy rate of 11%. To cure this deficiency, we will invest another $500,000 into light improvements that are designed to dramatically improve demand while also moving the units into a higher rental level. These improvements will include the addition of a resort style pool and deck area that will include a grilling pavilion and expansive sundeck.  Landscaping and hardscaping will be upgraded as well.  These much needed improvements combined with the installation of our professional management team will allow us to restore this community to a superior level of performance within the first year of operation.

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