| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 60th | Fair |
| Demographics | 64th | Good |
| Amenities | 83rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 245 Loraine Dr, Altamonte Springs, FL, 32714, US |
| Region / Metro | Altamonte Springs |
| Year of Construction | 1973 |
| Units | 36 |
| Transaction Date | 1993-10-25 |
| Transaction Price | $965,000 |
| Buyer | TL3 UPTOWN STUDIOS LLC |
| Seller | HIDEAWAY NORTH LLC |
245 Loraine Dr Altamonte Springs Multifamily Value-Add Play
Neighborhood data indicate durable renter demand and above-median occupancy, according to WDSuite’s CRE market data. The 1973 vintage points to clear renovation upside alongside stable location fundamentals.
In Altamonte Springs within the Orlando–Kissimmee–Sanford metro, the neighborhood holds an A rating and ranks 35th of 465, signaling competitive positioning among metro peers. Occupancy trends are above the metro median and land in the top quartile among 465 metro neighborhoods and around the 75th percentile nationally, supporting leasing stability.
Livability supports retention: parks, groceries, restaurants, and pharmacies all index above national averages, with parks and restaurants in the top quartile nationally. This mix of daily conveniences typically helps sustain demand and reduces friction at renewal.
Renter-occupied share is high—top quartile among the 465 metro neighborhoods and mid‑80s percentile nationally—indicating depth in the tenant base and resilience for multifamily demand.
Within a 3‑mile radius, population has grown, households have increased at a double‑digit pace, and additional household gains are forecast by 2028—expanding the renter pool over time. Rent-to-income around 24% suggests manageable affordability pressure that can aid retention, while relatively accessible ownership costs mean some competition with for-sale housing remains a consideration.
Vintage implications: The property’s 1973 construction is older than the neighborhood’s mid‑1980s average, which points to targeted capital planning and value‑add potential to enhance competitive positioning.
Neighborhood-level safety metrics are not available in WDSuite for this location. Investors should compare recent public safety reports to Orlando–Kissimmee–Sanford metro context and review multi‑year trends to gauge direction rather than relying on single-year snapshots.
Operationally, evaluate on‑site measures (lighting, access control) and how nearby commercial activity and traffic patterns affect perceived safety and leasing before final underwriting.
A diversified set of nearby corporate offices supports commuter convenience and renter demand, including Symantec (software/security), Prudential (insurance), Ryder (logistics), Darden Restaurants (restaurant group), and Waste Management (environmental services).
- Symantec — software/security (7.8 miles)
- Prudential — insurance (12.9 miles)
- Ryder — logistics (14.4 miles)
- Darden Restaurants — restaurant group (17.3 miles) — HQ
- Waste Management — environmental services (32.8 miles)
The investment case centers on a value‑add plan supported by strong neighborhood fundamentals. According to CRE market data from WDSuite, occupancy performance sits above metro medians and the area ranks competitively among 465 neighborhoods, while amenity access (parks, groceries, restaurants) is top‑quartile nationally—favorable for retention and pricing discipline.
The 1973 vintage is older than surrounding stock, creating scope for renovations that can lift rents and reduce future CapEx uncertainty. Within 3 miles, recent population growth, notable household gains, and a forecast for additional household expansion by 2028 point to a growing tenant base. Ownership remains relatively accessible, so pricing should balance rent growth with retention.
- 1973 vintage offers clear renovation and modernization upside versus mid‑1980s neighborhood average
- Above‑median neighborhood occupancy and high renter concentration support leasing stability
- Top‑quartile amenity access (parks, groceries, restaurants) reinforces location fundamentals
- 3‑mile radius shows population growth and expanding households, supporting future renter demand
- Risk: relatively accessible ownership can compete with rentals—manage pricing for retention