Grant Street Townhomes 12 Home BFR Investment Portfolio Orlando FL

Listing was updated at: 04/26/2020
Property Overview
Price/Rent PSF $ 4,800,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 23,730
Date Available 07/31/2019
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Florida is widely known as the Sunshine State, but it is also well-known for its business-friendly environment offering low corporate income tax rates and no personal income tax. These tax situations continue to rank Florida as one of the top states to do business. As Florida is in proximity to the ocean, this largely influences multiple aspects of Florida culture and daily life.

Orlando, nicknamed "The City Beautiful" is also known as the "Theme Park Capital of the World", attracting more than 68 million visitors, who spent over $33 billion in 2016. Not only is the tourism industry one of the main driving forces in Orlando's economy, but the city itself has also become a leading tourism destination in the world. Orlando is home to Walt Disney World Resort, Universal Orlando Resort, Fun Spot America Theme Parks, and SeaWorld Orlando.

According to the U.S. Census Bureau, the Orlando metropolitan area had a population of 2,509,831 in 2017, making it the sixth-largest metropolitan area in the southern United States. Orlando is a major industrial and hi-tech center. The metro area has a $13.4 billion technology industry employing 53,000 people and is a nationally recognized cluster of innovation in digital media, agricultural technology, aviation, aerospace, and software design. Metro Orlando is home to the simulation procurement commands for the U.S. Army, Navy, Air Force, Marines and Coast Guard.

This Build for Rent (BFR) investment portfolio allows a buyer to purchase 12 townhome homes in Orlando, Florida. This is an exciting infill opportunity from an experienced infill builder and developer able to replicate this type of community. The builder is able to quickly scale production in Florida and beyond. They have a catalog of floorplans that includes attached and detached homes.

Along with two other metro areas, Orlando has experienced the highest year over year rent growth as of January, at 5.8%.* Rent growth is expected to continue its strong performance in Orlando through 2022, increasing an estimated 11%, an estimated 2.8% annual increase, surpassing the estimated average of the top 63 US SFR markets of 8%.* John Burns Real Estate Consulting currently ranks Orlando number 3 and projects Orlando to be the number 4 SFR market in the country. Part of this strength is due to the estimated year over year population increase of 2%.* Another part is that Orlando has had the strongest year over year employment growth of the top SFR markets, increasing at an estimated 4%* and had the highest job growth in the country between 2015 - 2018.** A significant percentage of these jobs are in science, technology, math, and engineering. Forbes determined Orlando is adding STEM jobs at the highest rate in the country.

This investment portfolio is comprised of twelve townhome homes. All of the homes are 3-bedroom, 3.5-bathrooms, between 1,957 and 2,017 square feet. This offering is the second phase of a successful development in downtown Orland, Florida. The community offers strong projected rent and returns with well-designed architecture.