Lake Lotus Condos, Orlando

  • Starting price $99,900
  • 1, 2, 3 bed units
  • Over 8% NET yield
  • Condos sold in past for $300,000
  • 10 mins from downtown Orlando
  • Within Grade A school district

Introduction

Landmark Developments are delighted to present you with the Lake Lotus Condos situated in the renowned Altamonte Springs area of Orlando.  The properties are located next to the Seminole State College and are within walking distance to the myriad retail and restaurant establishments in central Altamonte.

One, two and three bed condos are available starting at $99,900 and offering over 8% NET yield.  The residences benefit from private entries, vaulted ceilings, updated countertops, full-size washers and dryers, screened patios and balconies, spacious walk-in closets, roman tubs, and ceiling fans.

Amenities on the development include:

  • Swimming Pool/Hot Tub
  • Clubhouse
  • Car Care Area
  • Business Center
  • Fitness Center
  • Elegant Conference Room
  • Sand Volleyball Court
  • Picnic/BBQ area
  • Outstanding Schools (Zoned Lake Brantley High School)
  • Fine Shops, Restaurants, etc within minutes
  • Games Room

The development was substantially remodeled in 2006 with a renovated clubhouse, new roofs, new exterior paint, new screened patios and new railings.   Each unit features its own screened balcony or patio.   Buildings are very low density with only 2 stories, each unit having its own private entry from the ground level.

The site is a mere 10 minutes from Downtown Orlando, Altamonte Mall, and Uptown Altamonte, the planned waterfront development.  Uptown Altamonte has a striking 37 acre lakeside park with lighted boardwalks, park benches, a floating stage and a 900 seat amphitheatre.

M/PF Torto Wheaton Research projects that the Altamonte Springs submarket will “outperform” the Orlando MSA in terms of occupancy and rent gains over the next two years.    With no new unit deliveries in this submarket in 2011 and 2012, this location continues to stabilize and values rapidly increasing.

Condos in this development have previously sold for in excess of $300,000.  This investment offers over 8% NET yield.  Located in a highly sought after area of Orlando.   Orlando has in excess of 55 million visitors per year and is the USA’s number one tourist destination thanks to all of the local attractions including Disney World.  The development is in a Grade A school district and has a fine selection of shops and restaurants within easy walking distance.

Lake Lotus witnessed a robust condo sales period in 2007 with prices reaching $325,000 per unit.  The remaining 25 units are presently offered at well below replacement cost.  Lake Lotus has massive potential to command such pricing again once the market improves.

 

Location of Lake Lotus Condos

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Lake Lotus Condos situated in the renowned Altamonte Springs area of Orlando.  10 minutes walking distance from Downtown Orlando.

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