Top 5 Orlando Areas to Invest in Multifamily Rental Properties
Top 5 Orlando Areas to Invest in Multifamily Rental Properties Sandra Quinn December 22, 2023 6:31 pm Are you an investor seeking to expand your portfolio and optimize your financial returns? Investing in an Orlando multifamily rental property is one of the most promising investments, especially in the nation’s most visited destination. The Orlando multifamily market continues to prevail amongst the changing landscape of the rental market across Florida. With 10 large theme parks and hundreds of other attractions throughout the area, Orlando remains the nations #1 tourist destination, and thousands of new residents continue to move to Florida to seek a better life in the Sunshine State. What is a Multifamily Rental Property in Orlando? Multi-family rental property is essentially a property that houses more than one family or tenant comprising more than one unit. A multi-family rental property can be an apartment building hosting hundreds of units down to a simple duplex. A multifamily rental is any amount of real property, more than one unit. As a professional Multifamily Property Management Company in Orlando, Florida, we’ve seen the Orlando area explode with new apartment complexes and multifamily properties. Here at The Listing, we believe this is an excellent opportunity to add to the Orlando housing shortage while generating a positive return on your investment. However, Orlando areas produce better returns for real estate investors, so working with a professional rental property manager specializing in multifamily properties is essential. 1) Winter Garden Winter Garden is a lively, up and coming area located 14 miles West of Downtown Orlando. Winter Garden is home to young professionals, families, retirees, and people of all ages who enjoy a fun-filled community atmosphere; this suburb of Orlando is one of the most diverse in all of Florida with almost 50,000 residents. The Winter Garden community places a strong emphasis on supporting the many small businesses in the area, exuding the “small town charm” that many Florida residents desire. The community officials want the best for the area which shows through initiatives like this survey regarding traffic safety. Winter Gardens’ slogan is “where good things grow”, and that is exactly what your multifamily investment property will do here. As an Orlando and Winter Garden Property Management Company we know the area is home to eclectic art exhibits, cafes and bakeries, and weekly events such as parades, holiday light shows, farmers markets, and live music, the area is highly attractive and sought after. According to Niche.com: The median home value in Winter Garden is $349,700 The median rent in Winter Garden is $1,360 30% of residents are renters #27 of 380 most diverse suburbs in Florida #53 of 380 suburbs with the best public schools in Florida 2) Winter Park Winter Park and Winter Garden share a lot in common, however Winter Park is more traditional and smaller than Winter Garden. Winter Park is a suburb just about 20 minutes outside of Downtown Orlando, rich in arts and culture and centered around “building a healthy and sustainable future for all generations” according to The City of Winter Park. Winter park is known for its greenery and ample space for outdoor activities, like its handful of parks, a tennis center, and two golf courses. Winter Park’s location allows for a short commute to Downtown Orlando—ideal for working professionals or theme park fanatics. Multifamily renters looking for the best of both worlds, a suburban neighborhood and access to city life, will find that Winter Garden is the ideal place to settle down. The abundance of art schools and festivals, museums, and live theater and music shows draw a large crowd to the area. As Winter Park property managers, we ensure that with plenty to do, see, and eat, along with a highly rated education system, a Winter Park multifamily rental is a promising investment. According to Niche.com: The median home value in Winter Park is $492,100 The median rent in Winter Park is $1,427 33% of residents are renters #7 of 380 best suburbs for young professionals in Florida #9 of 380 best suburbs to live in Florida #25 of 380 suburbs with the best public schools in Florida 3) Oviedo Oviedo, located in close proximity to UCF, is home to a diverse demographic of students and young professionals. This suburb of Orlando has a unique blend of a residential environment with sporadic areas of rural charm. The city is currently in the midst of expanding the downtown area by 50 acres. According to the city, “The new, mixed-use development will feature a residential component of single-family houses, townhomes and apartments, a commercial business district and retail establishments” which is positive news for current and future Orlando multifamily investors and residents alike. The expansion of the downtown area will continue to push Oviedo as one of the most thriving areas in Orange County. Its abundance of shopping centers, proximity to UCF and Downtown Orlando, and entertainment attractions make Oviedo, Florida a central and convenient location for multifamily renters, a highly favorable destination for families and individuals seeking convenience and community. According to Niche.com: The median home value in Oviedo is $332,300 The median rent in Oviedo is $1,737 #11 of 380 suburbs with the best public schools in Florida #16 of 380 best suburbs in Florida 21% of residents are renters 4) Alafaya As Orlando multifamily property managers, we can tell you that Alafaya has become increasingly popular amongst renters over the past couple of years. Its population of over 90,000 makes Alafaya the second highest populated area in Orange county. In addition, Alafaya is also in the top 20 for the highest median income—music to a landlord’s ears. Alafaya is a highly sought after area amongst young professionals and students due to its close proximity to UCF. In addition, Alafaya is only a short 15 mile commute to Downtown Orlando. Alafaya’s central location makes it the ideal area for renters studying at UCF, working in Downtown Orlando, or simply wanting to enjoy all that Orange County has to offer. Properties like multifamily apartments and duplexes are popular amongst college students in Alafaya, making the area desirable and profitable for multifamily investment. According to Niche.com: The median home value in Alafaya is $307,900 The median rent in Alafaya is $1,608 36% of residents are renters #46 of 380 best suburbs to raise a family in Florida #54 of 380 best suburbs to live in Florida #55 of 380 suburbs with the best public schools in Florida 5) Celebration Celebration is a vibrant community that is the epitome of celebrating life in the Sunshine State. Celebration is a master planned community with architecture that mimics historic buildings, forging a warm small town ambiance. Celebration was originally founded by Walt Disney and you can feel the magic as you walk through the community. The town of Celebration hosts a variety of annual events like holiday parades, half marathons, Food Truck Fridays, and weekly Sunday markets. Celebration residents have everything they need at their fingertips including supermarkets, shops, highly rated schools, and an array of entertainment options right in the downtown area. This aspect of Celebration makes it a highly sought out destination for renters, and an optimal opportunity for multifamily rental property investments. According to Niche.com: The median home value in celebration is $533,700 The median rent in celebration is $1,713 42% of residents are renters #28 of 380 best suburbs for young professionals in Florida #37 of 380 best suburbs to raise a family in Florida #56 of 380 best suburbs to live in Florida Orlando Multifamily Property Management The best way to ensure success of your Orlando multifamily rental property is to work with an Orlando multifamily property management company. Whether you’re a seasoned investor with multiple properties and duplexes, or a first time investor, the expertise and experience of a property manager will increase significantly. At The Listing Real Estate Management, we use hands-on management to increase cash flow, add value (where others can’t), and improve tenant retention. Our expertise in the Orlando property management business and high supply of qualified renters enables us to fill vacancies and increase the market value for our rental properties. At The Listing, we believe that leading with integrity in our property management services enables our multifamily property owners to enjoy peace of mind with increased returns. Our Multifamily Property Management Services Include: Marketing and Leasing Tenant Screening Rent Collection Maintenance and Repairs Rental Property Accounting Rental Management Guarantees Whether you own a duplex, triplex, quadplex, or smaller multifamily property in Downtown Orlando or outside, The Listing provides the highest quality property management service. Our property managers are experts in Orlando multifamily property management and strive to provide our rental property owners with a positive and profitable experience. In addition, we have extensive experience managing mid-size multifamily properties and apartment complexes.
Moving To Orlando?- Here's what you need to know
Moving To Orlando? Here's What You Need To KnowIf you're considering a move to sunny Orlando, Florida, you're in for a treat! Known for its world-class theme parks, beautiful weather, and vibrant lifestyle, Orlando has become a popular destination for both tourists and new residents alike. In this blog post, we'll explore three key aspects of moving to Orlando: the real estate market for buyers, the unique lifestyle it offers, and what you can expect in terms of amenities and attractions.Buying a Home in OrlandoFor potential homebuyers, Orlando offers a diverse range of real estate options. From charming historic neighborhoods to luxurious gated communities, there's something for everyone in this city. The median home price in Orlando is currently around $275,000, making it an affordable market compared to some other popular cities in Florida. However, the market is highly competitive, so it's important to act quickly when you find a property you love.One of the many advantages of living in Orlando is the absence of state income tax. This tax perk, combined with the city's affordable housing options, makes it an attractive destination for those looking to relocate. Additionally, Orlando's strong job market, primarily driven by the tourism industry, creates ample employment opportunities for both residents and newcomers.Lifestyle and RecreationOrlando's lively lifestyle is one of its biggest draws. While the theme parks are certainly a significant part of the city's identity, there's much more to Orlando than meets the eye. The city boasts an eclectic dining scene, with a wide variety of cuisines to satisfy any palate. From upscale restaurants to food truck rallies, there's no shortage of options for food lovers.Outdoor enthusiasts will also find plenty to do in Orlando. With its year-round warm weather, you can enjoy activities like boating, paddleboarding, and fishing in the many nearby lakes and rivers. The city is also home to an extensive network of parks and trails, perfect for hiking, biking, and picnicking.Additionally, Orlando is a sports lover's paradise. The city hosts numerous professional sports teams, including the Orlando Magic (NBA), Orlando City SC (MLS), and the Orlando Pride (NWSL). Attending games and supporting the local teams is a great way to immerse yourself in the vibrant sports culture of the city.Amenities and AttractionsOf course, one cannot discuss moving to Orlando without mentioning its renowned theme parks. Walt Disney World Resort, Universal Orlando Resort, and SeaWorld Orlando are just a few of the world-class attractions that draw millions of visitors each year. As a resident, you'll have the opportunity to explore these parks at your leisure, making it a dream come true for many families.Apart from the theme parks, Orlando is also home to a thriving arts and cultural scene. The Dr. Phillips Center for the Performing Arts hosts various concerts, Broadway shows, and other performances throughout the year. The city's museums, including the Orlando Museum of Art and the Orlando Science Center, offer educational and entertaining experiences for all ages.In terms of education, Orlando is home to several excellent public and private schools. The University of Central Florida, one of the largest universities in the country, is also located here, offering a wide range of academic programs for students.In conclusion, moving to Orlando offers a multitude of benefits, including affordable real estate options, a vibrant lifestyle, and world-class amenities and attractions. Whether you're a thrill-seeker looking for entertainment or a nature lover seeking outdoor adventures, Orlando has something for everyone. With its strong job market and tax advantages, it's no wonder that more and more people are choosing to call this sunny city home. So, pack your bags and get ready to enjoy the magic of Orlando!
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