| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 32nd | Poor |
| Amenities | 57th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5174 Millenia Blvd, Orlando, FL, 32839, US |
| Region / Metro | Orlando |
| Year of Construction | 2002 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | $1,100,000 |
| Buyer | LANDINGS OF MILLENIA BLVD PTRS LT |
| Seller | FESTIVAL PROPERTIES INC |
5174 Millenia Blvd Orlando Multifamily Investment
High renter concentration in the surrounding neighborhood supports a deep tenant base, while occupancy patterns suggest attentive leasing management, according to WDSuite’s CRE market data.
Situated in Orlando’s Urban Core, the property benefits from neighborhood fundamentals that are competitive among Orlando-Kissimmee-Sanford neighborhoods. Grocery and pharmacy access track in the upper national percentiles, while restaurants are relatively dense; cafes and parks are limited. This blend supports day-to-day convenience for residents and helps with leasing visibility, but outdoor and third-place amenities are thinner than in lifestyle-heavy subdistricts.
Rents in the neighborhood benchmark above national norms, and the neighborhood occupancy rate sits below national medians, indicating investors should emphasize renewals, pricing discipline, and targeted concessions where needed. The share of housing units that are renter-occupied is high, signaling durable multifamily demand and a broad leasing funnel rather than reliance on a narrow tenant segment.
Construction year is 2002, slightly older than nearby average vintage. This positioning can support a value-add strategy focused on interiors, common areas, and efficiency upgrades to stay competitive against newer stock, while planning for mid-life systems maintenance over the hold.
Within a 3-mile radius, recent years show a modest population pullback but rising incomes; forward-looking projections indicate population growth and a substantial increase in households with smaller average household size. For investors, that combination points to a larger tenant base and more one- to two-person households entering the rental market, which can aid occupancy stability and lease-up velocity.
Home values in the area are elevated relative to local incomes, a dynamic that tends to reinforce reliance on multifamily housing. For operators, this can translate into steadier renewal probability and pricing power when managed alongside rent-to-income considerations.
Neighborhood safety indicators sit around the national middle for overall crime, with violent offense levels below national averages. According to WDSuite’s data, both violent and property offenses have trended down over the last year, which is a constructive signal for resident perception and retention.
As with most Urban Core locations, safety can vary block to block. Investors should underwrite with practical measures—lighting, access controls, and community engagement—while monitoring continued year-over-year improvement trends rather than relying on a single snapshot.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience. Key employers in proximity include Prudential, Ryder, Darden Restaurants, Airgas Specialty Products, and Symantec.
- Prudential — corporate offices (0.56 miles)
- Ryder — corporate offices (2.13 miles)
- Darden Restaurants — corporate headquarters & offices (4.16 miles) — HQ
- Airgas Specialty Products — industrial gases offices (20.07 miles)
- Symantec — software/security offices (21.24 miles)
5174 Millenia Blvd offers a workforce-friendly location with strong day-to-day convenience and a high share of renter-occupied housing units in the surrounding neighborhood, supporting depth of demand. Construction year 2002 suggests potential value-add upside via targeted renovations and operational improvements to compete with newer stock. Based on CRE market data from WDSuite, neighborhood occupancy trails national medians, so execution around renewals and lease management will be central to returns.
Three-mile projections point to population growth and a large increase in households alongside smaller household sizes, expanding the renter pool and favoring unit mixes that lease efficiently. Elevated ownership costs relative to local incomes further reinforce reliance on multifamily housing, which can support pricing power when balanced with rent-to-income management.
- High renter concentration nearby supports a broad and stable tenant base
- 2002 vintage presents value-add and systems-upgrade opportunities to enhance competitiveness
- Household growth and smaller sizes within 3 miles expand leasing prospects and support occupancy
- Strong grocery/pharmacy access aids retention and everyday livability for residents
- Risk: Neighborhood occupancy below national medians requires disciplined pricing, renewals, and marketing