Orlando, FL Multifamily Mortgage

Our goal is to help you achieve your investment objectives in Central Florida, the Greater Orlando Metropolitan area by assisting you with financing an apartment building of 5 or more units. Our knowledge and guidance inmultifamily financing help you get the desired loan through a variety of lending products.

Orlando, FL Facts

The city of Orlando is part of the Orlando metro area and is the third largest metropolitan area in the state of Florida behind Miami-Ft Lauderdale and Tampa. The main part of Orlando is in Seminole county with portions situated in Lake, Osceola, Orange, and Seminole counties.

There are approximately 1.3 million residents in the city of Orlando but there are 2.4 million in the 4 county Orlando MSA according to data last reported in 2016.

Reasons to Invest in Orlando

With a steady rate of rentals increasing in Orlando, it's has become a lot tougher finding an apartment but that is good news for investors. According to data from OpenGov, roughly 66 percent of Orlando residents are renters.

The major employers based in Orlando are Walt Disney World, Orange County Public Schools, Universal Resort, Florida Hospital, Orlando Health, Adventist Health System, Orlando Regional Healthcare System, Lockheed Martin, Westgate Resorts, Hospital Corporation of American and many more.

Major routes for residents to get to work, the local universities, or other places include state highways 50 (Colonial Drive), 436(Semoran Boulevard), 441 (Orange Blossom Trail) and 423 (John Young Parkway). Interstate I-4, 75 and 95. Local toll expressways include the East-West Expressway; the Greenway; and the Beachline to Cocao Beach. Orlando is just a 90 minute drive to Tampa and about a 3 hour drive to Fort Myers-Cape Coral.

Why Orlando is Attractive for Multifamily Investors

According to Forbes magazine^[1], Orlando is among the top cities nationwide for investing in residential real estate in the next few years. In term of single family rental homes, Orlando is labeled as the third-best market to purchase a home, pointing out the population growth and employment rate as major factors.

Orlando features the second highest rental yield in the United States. To illustrate, its rental yield is nearly two times as high as San Francisco, based on research performed by Finder.com. Orlando spans across 4 counties with an estimated population of 2.4 million people.

With these facts in mind, investors are alerted by commercial real estate agents when multi-unit properties for sale meet their criteria in the following popular areas of Orlando.

According to the Bureau of Labor Statistics, the unemployment rate in Winter Park is 3.10% ^[2]. During the next ten years, job growth is predicted to be come in at 40.62%. 56.9% are college graduates. Currently, the median household income is $59,405.

Oviedo is located in eastern Seminole County, close to the University of Central Florida. The city has several large employers such as NES Global, Siemens, Duda and Sons, and Seminole State College which helps keep their economy stable. As a result, the area is very appealing for multi-unit investors.

The median household income in Oviedo is $82,259. Based on recent data, the unemployment rate in Oviedo, Florida is currently 3.90% in 2018.

Lake Nona is also referred to as Medical City, because of the numerous medical centers and hospitals that were built in recent years. Lake Nona is convenient and a charming area for people who commute to their jobs in Orlando. For that reason, there's considerable potential for investors to make a sound investment.

The median income for Lake Nona residents from the age of 25 to 44 is $63,956. For those over 65, the income is $54,566.

Kissimmee located in Osceola County offers investors a multi-unit property at more affordable prices than Lake Nona due to having lower property taxes.

In Addition, Kissimmee is adjacent to the theme parks and the fun-filled attractions in Orlando, FL. Nature lovers can enjoy boating activities on Lake Toho or Shingle Creek.

This is all good news to multifamily buyers. As of July 2018, the average rents for a 2-bedroom are $1,476 ^[3] to $1,309 for a one-bedroom. The average rents are increasing due to demand and new apartment buildings fetching a higher rental price than an older building built decades ago.

In summary, Orlando is a key market for growth to acquire an apartment building. Our multifamily financing options also include student housing buildings, senior living, or mobile home parks that meet investor guidelines.

 

 

 

 

 

[1] - Source: "Forbes Magazine". Orlando Weekly. May 2, 2018.

[2] - Orlando unemployment rate U.S. Bureau of Labor Statistics:

[3] - Source: RentJungle as of July, 2018