City Walk Villas
Closed1515 Lincoln Ave, Mount Dora, FL 32757
Property type
Multifamily
Unit / Space count
65
Price
$6,200,000
Building size
54,248 sf
Rentable area
54,248 SF
Year built
1981
Year renovated
Occupancy
100%
Stories
2
Zoning code
Lot size
4.45 Acres
Unit mix
40x
-br
25x
-br
Bedroom count
Price per Unit
$95,385
Price per SF
$114.29
Property description
PROPERTY OVERVIEW City Walk Villas is a 65-unit multifamily community in Mount Dora, FL. The property was constructed in two phases in 1981 & 1988, with all buildings consisting of concrete block framing and stucco exterior walls. The unit mix consists of 34- 1 Bedroom 1 Bathroom units of 624 square feet, 4- 2 Bedroom 1 bathroom units of 824 square feet, 25- 2 Bedroom 1.5 Bathroom units of 960 square feet, and 2- 3 Bedroom 1 Bathroom units of 1080 square feet. Amenities on-site include two laundry facilities and a resident clubhouse. LOCATION OVERVIEW City Walk Villas is located just 5 minutes from Downtown Mount Dora, and sits across from the 35-acre Lincoln Avenue Community Park, where residents may enjoy access to 6, tennis courts, 4 baseball/softball fields, 2 racquetball courts, a disc golf course, swimming pool, dog park, and biking trail. City Walk Villas is within close proximity to downtown Orlando, and as a submarket, Mount Dora benefits from a robust population due to Orlando's presence as a top 10 location in the country to conduct business. The Orlando area boasts a growing population of more than 2.2 million residents, a diversified economic base employing 1.2 million, and is widely considered a natural choice for corporate relocation and expansion. In addition to a strong economic base, the region offers more than 35 colleges, universities, technical schools and private institutions.
Property highlights
- Value-Add Opportunity to Continue Light Interior Renovation Program to Achieve Significant NOI Growth
- Recent Cap Ex Includes: Brand New Metal 30+ Year Standing Seam Roofs, New Exterior Paint and Landscaping, Resurfaced Parking Lot and Striping, Brand New Clubhouse, Laundry Room, Business Center, and Leasing Office
- Highly Desirable 1980's Vintage Concrete Block Construction with Strong Unit Mix with 1, 2, & 3-Bedroom Floor Plans
- Supply-Constrained Mount Dora Submarket with Market Occupancy in the Upper 90's
- Located 1.25 Miles From Downtown Mount Dora, the Historic and Popular Tourist Destination. Just 45 Minutes From Orlando International Airport, Known For its Variety of Antique and Specialty Shops
- Across the Street From Lincoln Avenue Community Park, a 35-acre Recreational Complex Offering Tennis Courts, Baseball/Softball Fields, Disc Golf Course, Swimming Pool, Bike Trail, & Dog Park