ORLANDO, Fla., Nov. 20, 2024 /PRNewswire/ — JBM® Institutional Multifamily Advisors has exclusively listed Advenir at Magnolia – a two story, garden community with proven value-add potential. Advenir at Magnolia is comprised of 272 units averaging 800 square feet and sits on 13.19 acres +/-. The Property is located in Seminole County where the Public Schools are ranked #1 for Best School District in the Orlando Area.
Product
JBM® Institutional Multifamily Advisors Exclusively Lists Advenir at Magnolia Apartments in Altamonte Springs, FL (Orlando MSA)
Potential buyers have the opportunity to acquire a stable, cash flowing asset with proven value-add potential well below current replacement cost. The Property showcases a comprehensive amenity package including two resort-style pools, grilling stations, 24/7 fitness center, business center, and laundry facilities. Advenir at Magnolia also has an abundance of recreational features including a lighted tennis court, two basketball courts and three racquetball courts.
Units
The Property includes a mix of studio, one and two-bedroom units. About 42% of the units have been renovated, featuring faux wood plank flooring, resurfaced formica countertops, black appliance package, brown shaker-style cabinetry, and ceramic tile backsplash. Implementing a blended renovation program to implement and expand upon the current upgrades would yield a rent premium of $152 for a ROI of 32%. Some proposed concepts would be to add stainless steel appliances, granite countertops, white shaker-style door fronts, adding washers/dryers, and more. All one and two-bedroom units have screened in patios.
Location
Advenir at Magnolia features exceptional connectivity to Semoran Boulevard (68,000 ADT) and near US-17/92 (69,000 ADT) providing convenient access to entertainment, retail, & major employment centers in Downtown Orlando, Altamonte Springs, & the greater Orlando MSA. The Property is just 2.5 miles to Altamonte Mall, which welcomes over 9.5 million visitors annually and features 100+ shopping and dining options such as Dillard’s, Macy’s, Starbucks, AMC, Barnes & Noble, & more. AdventHealth Altamonte Springs is just 2 miles away and has 393 beds and 2,400+ employees. Currently, the Hospital is undergoing a $50+ million growth strategy.
About JBM®
JBM® is the #1 ranked boutique brokerage firm in the U.S.A. despite only transacting in Florida. Green Street’s 2023 national multifamily broker rankings ranks JBM® as the #1 highest average sold price per transaction throughout the entire U.S.A. and #1 highest average sales price per unit throughout Florida. JBM® has a lifetime transactions volume over $19.4 billion and 170,000+ units.
SOURCE JBM Institutional Multifamily Advisors
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