11600 Mendel DrOrlando, FL 32826
- Hospitality properties
- 550 SF
Property Details for 11600 Mendel Dr
- Year built
- 197
- Property size (Sq ft)
- 550 SF
- Property type
- Hospitality properties
- Property subtype
- Multifamily properties
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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