11600 Mendel DrOrlando, FL 32826

Property Details for 11600 Mendel Dr

Year built

197

Property size (Sq ft)

550 SF

Property type

Dormitories

Property subtype

Student housing

Description

This stabilized Class B multifamily property, Scots Arms Apartments, presents a compelling investment opportunity in Orlando, Florida. Located at 11600 Mendel Dr, 32826, within Orange County's targeted student housing area, this two-story building boasts 14 units ranging from 550 to 950 square feet. The unit mix includes twelve one-bedroom, one-bathroom units (550 sq ft each) and two larger two-bedroom, one-bathroom units (950 sq ft each). The property sits on a 35,383 square foot lot and is zoned R3. Recent improvements include a two-year-old roof and newly completed exterior pavement. The asking price is $2,500,000, representing a price per unit of $178,571.43 and a 4.36% cap rate based on a Net Operating Income (NOI) of $109,006. The current occupancy rate stands at 78%. This property offers a strong value-add potential due to its location and unit mix. The APN is 10-22-31-9652-10-210. This is a prime opportunity for investors seeking a stable, income-generating asset in a growing market.

Location Insight

City

Orlando

County

Orange

State

Florida

Latitude

28.5915

Longitude

-81.2112

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