| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 64th | Good |
| Amenities | 83rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 230 Loraine Dr, Altamonte Springs, FL, 32714, US |
| Region / Metro | Altamonte Springs |
| Year of Construction | 1973 |
| Units | 36 |
| Transaction Date | 2021-03-05 |
| Transaction Price | $10,908,000 |
| Buyer | TL3 UPTOWN STUDIOS LLC |
| Seller | HIDEAWAY NORTH LLC |
230 Loraine Dr Altamonte Springs Value-Add Multifamily
Neighborhood occupancy is strong and trending upward, supporting stable leasing conditions according to WDSuite’s CRE market data. Investor focus centers on durable renter demand in an inner-suburban location with daily amenities close by.
Located in Altamonte Springs within the Orlando-Kissimmee-Sanford metro, the neighborhood carries an A rating and ranks 35 out of 465 metro neighborhoods, indicating competitive fundamentals among Orlando submarkets. Amenity access is a clear strength: restaurant, cafe, grocery, and pharmacy density all rank competitive among Orlando neighborhoods, offering convenience that supports retention and day-to-day livability.
Occupancy in the neighborhood sits in the national top quartile and has improved over the past five years, a favorable backdrop for maintaining rent rolls. The share of renter-occupied housing units is high relative to national peers, signaling a deep tenant base that can support absorption and leasing velocity for multifamily assets.
Within a 3-mile radius, population and households have grown in recent years and are projected to expand further, pointing to renter pool expansion that can support occupancy stability. Median household incomes have risen meaningfully, while the rent-to-income profile indicates manageable affordability pressure in this location—factors that can aid lease renewals and reduce turnover risk.
Home values are elevated for the region but not extreme in national context. This ownership landscape typically sustains steady rental demand while limiting outflow to for-sale alternatives, which can support pricing power and steady rent collections when paired with the area’s convenience retail and services.
Comparable neighborhood-level safety metrics were not available in the current dataset. Investors should evaluate recent, verified local crime trends and compare them with broader Orlando-Kissimmee-Sanford benchmarks to contextualize risk. Positioning near daily amenities and established residential corridors can support perceived safety and resident satisfaction, but on-the-ground diligence is recommended.
Nearby corporate offices broaden the employment base and support renter demand through commute convenience, notably in technology, financial services, logistics, and hospitality headquarters.
- Symantec — software & cybersecurity offices (7.8 miles)
- Prudential — financial services offices (12.9 miles)
- Ryder — logistics & transportation offices (14.4 miles)
- Darden Restaurants — hospitality & restaurant group (17.3 miles) — HQ
Built in 1973, the property is older than the neighborhood average, creating clear value-add pathways through targeted renovations and systems upgrades. The surrounding neighborhood exhibits competitive rankings within the Orlando metro and top-quartile national occupancy, supporting steady cash flow potential as units are improved and repositioned. According to CRE market data from WDSuite, renter concentration is high and amenity access is strong, both of which underpin depth of demand and lease retention.
Within a 3-mile radius, population and households have increased and are projected to grow further, pointing to a larger tenant base over time. Homeownership costs are moderate relative to income levels, which can sustain rental demand while keeping rent-to-income pressures manageable—helpful for renewals and resident longevity. Principal risks include capital expenditures associated with a 1970s vintage and potential competition from accessible ownership options, which should be modeled into underwriting.
- Competitive neighborhood standing and top-quartile occupancy support leasing stability
- High renter-occupied housing share indicates depth of tenant demand
- 1973 vintage offers value-add and modernization upside to enhance NOI
- 3-mile population and household growth expand the renter pool over the medium term
- Risks: CapEx for older systems and competition from ownership alternatives