Nottinghill Apartments

Newly Built Asset | Available Below Replacement Cost | High-Growth Pocket Near Major Employers | Orlando MSA

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The Opportunity

IPA is pleased to present Nottinghill (“The Property”), a brand-new rental community in the high-growth Davenport area of the booming Orlando MSA. Built in 2024, this offering presents investors with the rare opportunity to acquire a new asset with upside well below replacement cost in a market poised for considerable gains. The Property consists of four three-story buildings with luxury features such as conditioned interior corridors, 9’ ceilings in all units, and hard-surface counters in all kitchens and baths. With the pipeline of new rental supply dropping significantly and the demand for housing at record levels, new ownership is likely to see impressive revenue growth and strong returns moving forward.

Key Investment Highlights

New Asset Available Below Replacement Cost

Luxury product available at least 25% below replacement cost

All buildings contain conditioned interior corridors

Desirable amenity package

9-ft. ceilings in all apartments

Unique floor plans with space-optimized layouts

88 units have a Home Office/Den (Alford & Cambridge Plans)

Stainless steel appliances, hard-surface counters, and wood-look flooring throughout

Washer/Dryer machines in all units

Walk-in showers and large closets with wire shelving

Splendid views of the rolling hills of Davenport from many units

Upside From Modest Enhancements

Potential to make minor enrichments to unit interiors (+$150/mo.)

Opportunity to level up common area amenities to drive additional demand

Potential to put the Property on revenue management

Potential to implement supplemental income programs (valet trash, package lockers and reserved/covered parking)

Operational upside going forward by streamlining expenses

$83,346 average household income within a 1-mi. radius supports a rent ceiling $780+ higher than current leased rents at Nottinghill based on a 3x qualification

Serving a Rapidly Expanding Location

Situated close to a Publix supermarket, AdventHeath Hospital, and a new school (Victory Ridge Academy)

11.6% annual population growth over the last five years (3-mile radius)

New Toll Road planned in Davenport to increase future growth

Forecast to see 5.0% average annual population growth through 2029

Close to I-4, providing access to nearby Walt Disney World, the Town of Celebration, Gaylord Palms Resort, Omni Resort, and Margaritaville Resort

10-minutes to Posner Village shopping/dining destination

Substantial new development taking place along South US Hwy 27