(Carl Cronan is editor of Real EstateFlorida.)

ORLANDO, FL-Continued job growth and stabilization of supply and demand are making Central Florida an attractive market for apartment investors, say local brokers. Many units that had been converted to condos for sale are returning to the market as rentals, while occupancy remains well within the 90% range.

“The pipeline looks pretty good over the next couple of years,” says Shelton Granade, first vice president of the Central Florida Multi-Housing Group with CB Richard Ellis Inc. in Orlando. While the area’s total rental pool is currently 138,000 units, only 3,000 new apartments are expected to open this year with limited construction over the next few years due to scarcity of multifamily-zoned sites and rising impact fees.

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