ORLANDO—As Orlando's multifamily market continues to turn investor heads, some owners are finding it's prime time to execute their exit strategy. Los Angeles-based Karlin Real Estate just sold Vista Verde Apartments for $22.2 million.

Located at 1658 South Hiawassee Road in Orlando, the 200-unit luxury multifamily community is 97% occupied. It was built in 1990. CBRE represented Karlin. Shelton Granade, Luke Wickham, and Justin Basquill led the sales effort.

"Orlando has experienced the best employment growth rate in the country year to date, which is helping to boost apartment rents and investor interest in multifamily investments in Central Florida,” Granade tells GlobeSt.com. He's reporting interest from a “diverse and deep pool” of investors, particularly on well-located assets like Vista Verde.”

Located 15 minutes from downtown Orlando and just 10 minutes to Orlando's “Restaurant Row” in the Dr. Phillips area, and five minutes to the upscale Mall at Millenia, the multifamily community offers golf course views and luxury features such as a large resort-style pool and sun deck, private garages, barrel tile roofs, and full-size washers and dryers in all units. Granade says, “Upgraded units in this South Orange County submarket are achieving $100 a month premiums, and new ownership has the tremendous opportunity to generate additional returns through modest interior renovations.”

Granade's team also recently sold Ashley at Spring Valley in nearby Altamonte Springs, FL for $18.3 million. Meanwhile, developers like ZOM Development are working to bring new product to market. Orlando-based ZOM Development and its joint venture partner AIG Global Real Estate acquired a 10-acre site for $16 million.

The land will be developed into a 483-unit rental apartment community to be called Baldwin Harbor. The $16 million cost for the land forecasts a $33,126 per unit price of. That represents the largest per unit apartment land price in the metropolitan Orlando area since 2008.