| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 32nd | Poor |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5032 Millenia Blvd, Orlando, FL, 32839, US |
| Region / Metro | Orlando |
| Year of Construction | 2002 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5032 Millenia Blvd Orlando Multifamily Positioning
Renter concentration in the surrounding neighborhood supports a durable tenant base, according to WDSuite's CRE market data, with pricing set against a high-cost ownership landscape that can sustain demand.
Located in Orlando's Urban Core, the area surrounding 5032 Millenia Blvd shows a renter-leaning housing fabric and access to daily conveniences that matter for retention. Neighborhood amenity access is competitive among Orlando-Kissimmee-Sanford neighborhoods (465 total), with strong coverage of groceries and pharmacies relative to the metro, while parks and cafes are thinner. These dynamics point to practical livability that serves workforce renters and service-sector employees.
Multifamily fundamentals are mixed at the neighborhood level: occupancy sits in the mid-80s, suggesting some leasing competition, yet renter-occupied share is very high (78.6% of housing units), indicating depth in the tenant pool. Median contract rents in the neighborhood track above many U.S. locations, and the value-to-income backdrop signals a high-cost ownership market that can reinforce reliance on rental housing — a consideration for pricing power and lease-up velocity.
Within a 3-mile radius, demographics indicate a large renter pool today and potential expansion over the next five years. Forecasts point to growth in population and a notable increase in households alongside smaller average household sizes, which typically broadens the base of renters and can support occupancy stability. Based on commercial real estate analysis from WDSuite, projected rent levels trend higher over the same horizon, which, if realized, would benefit revenue management while requiring careful attention to affordability.
Vintage matters for competitive positioning: built in 2002, the asset is slightly older than the area’s average vintage. That typically implies near- to medium-term capital planning for systems and interiors, with potential value-add or modernization to better compete against newer stock while capturing demand from the neighborhood’s strong renter concentration.
Safety metrics are mixed in context. Overall levels sit around the national middle, and the neighborhood ranks below the metro median for safety among 465 Orlando-Kissimmee-Sanford neighborhoods, indicating higher incident levels than many parts of the metro. That said, recent trends show improvement: property offenses have declined year over year, which is a constructive directional signal for investors tracking momentum.
Violent offense rates compare less favorably versus neighborhoods nationwide, while property crime has shown a notable downtrend. Investors should underwrite with standard security, lighting, and operations assumptions, and monitor continued trend improvements as part of ongoing asset management.
Nearby corporate offices provide a stable employment base and commute convenience for renters, with proximity to financial services, logistics, and restaurant corporate functions reflected below.
- Prudential - financial services offices (0.35 miles)
- Ryder - logistics offices (2.28 miles)
- Darden Restaurants - restaurant corporate offices (4.37 miles) - HQ
- Airgas Specialty Products - industrial gases offices (20.23 miles)
- Symantec - cybersecurity offices (21.06 miles)
This 24-unit property, built in 2002, competes in a renter-heavy Urban Core location where ownership costs are elevated relative to household incomes, supporting reliance on multifamily housing. Neighborhood occupancy in the mid-80s and a very high renter-occupied share point to a deep tenant base but call for active leasing and amenity strategies to differentiate versus nearby stock. According to CRE market data from WDSuite, recent property crime trends are improving, and forward-looking 3-mile demographics indicate a larger set of households and renters entering the market, which can aid retention and support cash-flow stability.
Given its slightly older-than-average vintage for the area, a targeted value-add plan (interiors, common areas, and select systems) may enhance competitiveness against newer deliveries while aligning rents with demonstrated neighborhood demand. Underwriting should account for affordability pressure and school quality considerations, with emphasis on workforce segments and proximity to nearby employers for leasing velocity.
- Strong renter concentration supports tenant base depth and leasing
- Ownership costs relative to incomes favor sustained rental demand
- 2002 vintage offers value-add potential to close the gap with newer stock
- Employer proximity underpins workforce housing demand and retention
- Risks: mid-80s neighborhood occupancy and lower school ratings require focused leasing and asset management