The east Orange County property is five miles from the University of Central Florida whose bulging 35,000 enrollment almost guarantees near-capacity occupancy to nearby multifamily ventures, area brokers and property managers familiar with that submarket tell GlobeSt.com. Off-campus housing is in short supply.
Monthly rents at Hunter's Ridge average $667 for average units of 825 sf. The property comprises 88 one-bedroom, one-bath units; 72 two bedroom, one-bath units; and 78 two-bedroom, two-bath units.
Darrell H. Johnson of Orlando-based Smith Equities Corp. handled the transaction for buyer and seller.
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