Apartment complex sells for $850,000

The 20-unit Park Avenue Apartments, located in Winter Garden, sold recently for $850,000.

The sale, led by commercial real estate investment services firm Marcus & Millichap, marks a record per-unit price ($42,500) and price per square foot ($54.49) for the Winter Garden submarket, Marcus & Millichap reported.

Joe LaFleur and Christopher Minchin, multi-family investment specialists in Marcus & Millichap’s Orlando office, had the exclusive listing to market the property on behalf of the seller. Strong interest was generated from international and regional investors, but, ultimately, the complex sold to a local buyer. 

The property features two-bedroom, one-bathroom units with 780 rentable square feet.