| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 66th | Best |
| Amenities | 34th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 305 Northlake Blvd, Altamonte Springs, FL, 32701, US |
| Region / Metro | Altamonte Springs |
| Year of Construction | 1984 |
| Units | 28 |
| Transaction Date | 1996-12-01 |
| Transaction Price | $10,100,000 |
| Buyer | MID-AMERICA CAPITAL PARTNERS |
| Seller | --- |
305 Northlake Blvd Altamonte Springs Multifamily Investment
Neighborhood-level occupancy is competitive within the Orlando metro and a high renter-occupied share suggests a deep tenant base, according to WDSuite s CRE market data. Stable demand drivers and a high-cost ownership backdrop support leasing durability for well-managed assets.
Located in an inner-suburb setting of Altamonte Springs, the neighborhood rates B+ and is competitive among Orlando-Kissimmee-Sanford neighborhoods (ranked 134 out of 465). For investors, that positioning typically aligns with steady renter demand and manageable leasing risk across cycles.
Neighborhood occupancy is above the national median and competitive among metro peers (93.4% for the neighborhood, per WDSuite). Importantly, the share of housing units that are renter-occupied is elevated (ranked 65 of 465; top quartile nationally), which points to a larger tenant base and supports retention through normal turnover.
Within a 3-mile radius, population and household counts have grown, with households expanding faster than population—indicating smaller average household sizes and a larger pool of prospective renters. Forward-looking data also points to additional household growth, which should help sustain occupancy and leasing velocity. Median contract rents in the 3-mile radius have risen over five years, while neighborhood rent-to-income levels indicate relatively lower affordability pressure compared to many U.S. areas—conditions that can aid lease renewal rates and pricing discipline.
Local amenity access skews toward daily-needs convenience rather than lifestyle density. Restaurants and pharmacies benchmark above national medians, while cafes, parks, and childcare are limited in the immediate neighborhood. Home values sit in a higher national percentile and the neighborhood s value-to-income ratio is elevated—together suggesting a high-cost ownership market that tends to reinforce reliance on multifamily rentals. These dynamics, combined with proximity to Orlando employment corridors, support a practical renter proposition for workforce and professional households. Based on WDSuite s commercial real estate analysis, these neighborhood traits compare favorably with many inner-ring suburban submarkets nationally.
Neighborhood safety indicators benchmark around the national middle overall, while several sub-indices perform strongly. The area ranks 137 out of 465 within the Orlando-Kissimmee-Sanford metro—competitive among metro neighborhoods. Nationally, estimated violent and property offense rates sit in the top quartile for safety, indicating comparatively lower incident levels than most U.S. neighborhoods.
Recent year-over-year changes in estimated offense rates have trended unfavorably, so investors should monitor trajectory rather than relying solely on a single-year snapshot. As always, compare multiple time frames and corroborate with local due diligence and insurer guidance when assessing risk and operating costs.
The employment base spans technology, financial services, logistics, and corporate restaurant headquarters, supporting commute convenience and diversified renter demand from nearby offices including Symantec, Prudential, Ryder, Darden Restaurants, and Airgas Specialty Products.
- Symantec — technology (8.4 miles)
- Prudential — financial services (12.4 miles)
- Ryder — logistics & fleet management (13.8 miles)
- Darden Restaurants — corporate restaurant group (16.7 miles) — HQ
- Airgas Specialty Products — industrial gases (32.8 miles)
This 28-unit asset, built in 1984, competes against an older neighborhood vintage (1975 average). The relative youth can reduce near-term functional obsolescence and support leasing versus older stock, while still warranting capital planning for aging systems and potential value-add upgrades. According to CRE market data from WDSuite, neighborhood occupancy is above national medians and competitive within the metro, and a high renter-occupied share indicates depth of demand for multifamily units.
Within a 3-mile radius, population and household growth—along with rising incomes—point to a larger renter pool ahead. Elevated home values and a high value-to-income ratio signal a high-cost ownership market, which typically sustains reliance on rentals and can support pricing power and lease retention when operations are well managed. Investors should balance these positives against relatively limited lifestyle amenities in the immediate neighborhood and recent fluctuations in estimated offense trends.
- Competitive neighborhood standing in the Orlando metro supports occupancy stability
- 1984 vintage offers relative competitiveness versus older local stock with value-add potential
- High renter-occupied share and 3-mile household growth expand the tenant base
- High-cost ownership context reinforces sustained rental demand and pricing discipline
- Risks: lighter nearby amenities and recent upticks in estimated offense indicators warrant monitoring