Property Record - 08-23-29-2790-00- - Orange County Record - 08-23-29-2790-00-010 Orange County...

Property Record - 08-23-29-2790-00-010

Orange County Property Appraiser • http://www.ocpafl.org

Property Summary

Property NameBella Cortina Apartments

NamesAvanath Oakwood LLC

MunicipalityORL - Orlando

Property Use0310 - Multi-Family II

Mailing Address17901 Von Karman Ave Ste 150Irvine, CA 92614-5245

Physical Address4698 Emerald Forest WayOrlando, FL 32811

QR Code For Mobile Phone

Property Record Card for 292308279000010



Value and Taxes

Historical Value and Tax Benefits

Tax Year Values Market Value Assessed Value2017201620152014

$29,725,391 (15%)

$25,928,318 (21%)

$21,488,412 (10%)

$19,519,474

$28,521,150 (10%)

$25,928,318 (21%)

$21,488,412 (10%)

$19,519,474

Tax Year Benefits Tax Savings2017 $14,173


201620152014

$0

$0

$0

2017 Taxable Value and Estimate of Proposed Taxes

Taxing Authority Assd Value Exemption Tax Value Millage Rate Taxes %Public Schools: By State Law (Rle) $29,725,391 $0 $29,725,391 4.2220 (-7.47%) $125,500.60 23 %Public Schools: By Local Board $29,725,391 $0 $29,725,391 3.2480 (0.00%) $96,548.07 17 %Orange County (General) $28,521,150 $0 $28,521,150 4.4347 (0.00%) $126,482.74 23 %City Of Orlando $28,521,150 $0 $28,521,150 6.6500 (0.00%) $189,665.65 34 %Library - Operating Budget $28,521,150 $0 $28,521,150 0.3748 (0.00%) $10,689.73 2 %South Florida Water Management District $28,521,150 $0 $28,521,150 0.1275 (-6.18%) $3,636.45 1 %South Florida Wmd Okeechobee Basin $28,521,150 $0 $28,521,150 0.1384 (-6.30%) $3,947.33 1 %South Florida Wmd Everglades Const $28,521,150 $0 $28,521,150 0.0441 (-6.37%) $1,257.78 0 % 19.2395 $557,728.35

2017 Non-Ad Valorem Assessments

Levying Authority Assessment Description Units Rate AssessmentCITY OF ORLANDO ORLANDO STORM - DRAINAGE - (407)246-2370 24318.18 $1.00 $24,318.18 $24,318.18

Income Pro forma (as of Jan 1st 2017) for Bella Cortina Apartments, which includes parcel(s):

PID DOR Code DOR Description Allocation Percentage08-23-29-2790-00-010 0310 Multi-Family Class II 100%

Note: Pro forma does not contain actual income and expenses specific to this property if provided by the property owner.

Rent RollRentable Area Type Description Restrict

RentEfficiency Ratio

Net Rentable Area

Rent Amount

Rental Period

Annual Rent

88 UT Unit (Generic) N 100.00% 88 $1,265.00 12 $1,335,84088 UT Unit (Generic) N 100.00% 88 $1,115.00 12 $1,177,44064 UT Unit (Generic) N 100.00% 64 $1,050.00 12 $806,40064 UT Unit (Generic) N 100.00% 64 $1,030.00 12 $791,040

Percent Amount Per UnitPotential Gross Income $4,110,720 $13,522

less Vacancy/Collection Loss 5.00% $205,536

= Effective Gross Income $3,905,184 $12,846

plus Ancillary Income 7.00% $273,363 $899

= Adjusted Gross Income $4,178,547 $13,745

less Expenses 45.00% $1,880,346 $6,185

= Net Gross Income $2,298,201 $7,560

plus Miscellaneous Income

= Net Operating Income $2,298,201 $7,560

Overall Rate 5.75000%

plus Millage Rate/Tax Rate 1.96012%

= Capitalization Rate 7.71012%

Capitalized Value $29,807,591 $98,051

less TPP Amount $82,200 $270

plus Additional Value

(+/-) Total Misc Adjustment

= Income Value $29,725,391 $97,781


http://www.ocpafl.org/Searches/ParcelSearch.aspx/PID/292308279000010

Property Features

Property Description

FLORIDA CENTER SHINGLE CREEK EAST RESIDENTIAL AREA PLAT 2 16/63 LOT 1 (LESS - ERROR IN DESC - BEG SE COR LOT 1, RUNN54-18-35W 10 FT, TH N33-54-43E 19.32 FT, TH N56-05-17W 12 FT, TH N33-54-43E 70 FT, TH S56-05-17E 12 FT, TH N33-54-43E1313.90 FT, TH S11-05-17E 14.14 FT, TH S33-54-43W 1393.48 FT TO POB PT TAKEN FOR RD R/W PER 4763/626)

Total Land Area

1,316,713 sqft (+/-) | 30.23 acres (+/-) GIS Calculated

Land

Land Use Code Zoning Land Units Unit Price Land Value Class Unit Price Class Value0310 - Multi-Family II R-3B 304 UNIT(S) $18,540.00 $5,636,160 $0.00 $5,636,1609600 - Waste Land R-3B 10.6 ACRE(S) $10.00 $106 $0.00 $106

Buildings

Model Code 04 - CommercialType Code 3400 - Rec/MeetingBuilding Value $173,028Estimated New Cost $219,023Actual Year Built 1986Beds 0Baths 0.0Floors 1Gross Area 1643 sqftLiving Area 1616 sqftExterior Wall Wood.ShthnInterior Wall Drywall

Subarea Description Sqft ValueBAS - Base Area 1616 $217,142FST - Fin Storge 27 $1,881

Model Code 03 - Multi Fam ResidenceType Code 0310 - Multi-Family IIBuilding Value $999,794Estimated New Cost $1,265,562Actual Year Built 1986Beds 2Baths 2.0Floors 2Gross Area 17676 sqftLiving Area 14808 sqftExterior Wall Wood.ShthnInterior Wall Drywall

Subarea Description Sqft ValueBAS - Base Area 7404 $610,756FST - Fin Storge 412 $16,993FUS - F/Up Story 7404 $610,756PTO - Patio 400 $1,650UOP - Unf O Prch 2056 $25,407

Model Code 03 - Multi Fam ResidenceType Code 0310 - Multi-Family IIBuilding Value $740,499Estimated New Cost $937,341Actual Year Built 1986Beds 1Baths 1.0Floors 2Gross Area 12592 sqftLiving Area 10896 sqftExterior Wall Wood.ShthnInterior Wall Drywall










Subarea Description Sqft ValueBAS - Base Area 3702 $318,113FST - Fin Storge 220 $9,452FUS - F/Up Story 3702 $318,113PTO - Patio 200 $859UOP - Unf O Prch 1028 $13,233

Model Code 03 - Multi Fam ResidenceType Code 0310 - Multi-Family IIBuilding Value $997,448Estimated New Cost $1,262,592Actual Year Built 1986Beds 2



Baths 2.0Floors 2Gross Area 18772 sqftLiving Area 14608 sqftExterior Wall Wood.ShthnInterior Wall Drywall


















Model Code 03 - Multi Fam ResidenceType Code 0310 - Multi-Family IIBuilding Value $999,794Estimated New Cost $1,265,562Actual Year Built 1986

Subarea Description Sqft ValueBAS - Base Area 7404 $610,756FST - Fin Storge 412 $16,993FUS - F/Up Story 7404 $610,756PTO - Patio 400 $1,650


Beds 2Baths 2.0Floors 2Gross Area 17676 sqftLiving Area 14808 sqftExterior Wall Wood.ShthnInterior Wall Drywall

UOP - Unf O Prch 2056 $25,407




Subarea Description Sqft ValueBAS - Base Area 289 $44,598CAN - Canopy 181 $8,333FDU - F/Det Util 210 $19,444PTO - Patio 553 $4,321SFB - Sem F Base 677 $83,641



Model Code 03 - Multi Fam ResidenceType Code 0310 - Multi-Family IIBuilding Value $786,469Estimated New Cost $995,531Actual Year Built 1987Beds 1Baths 1.0Floors 2Gross Area 13340 sqftLiving Area 11520 sqftExterior Wall Wood.Shthn



Interior Wall Drywall








Subarea Description Sqft ValueAPT - Apartment 856 $74,788BAS - Base Area 315 $34,392FDU - F/Det Util 308 $20,198FOP - F/Opn Prch 25 $873FST - Fin Storge 35 $1,965

Extra Features

Description Date Built Units Unit Price XFOB Value3785 - Kiosk 01/01/1986 1 Unit(s) $2,500.00 $4,500


RBCT - Outdoor Racquetball Ct 3 Or 4 Wall 01/01/1986 1 Unit(s) $15,000.00 $15,000SPA3 - Spa 3 01/01/1986 1 Unit(s) $5,000.00 $5,000PL2 - Above Average Pool 01/01/1986 1 Unit(s) $25,000.00 $10,000WLCB - Wall Cb 01/01/1986 1069 Unit(s) $15.00 $16,035PKSP - Parking Space 01/01/1986 547 Unit(s) $500.00 $273,500TNCT - Tennis Court 01/01/1986 1 Unit(s) $10,000.00 $10,000PL2 - Above Average Pool 01/01/1987 1 Unit(s) $25,000.00 $10,500

Sales

Sales History

Sale Date Sale Amount Instrument # Book/Page Deed Code Seller(s) Buyer(s) Vac/Imp02/25/2015 $29,900,000 20150106740 10882 / 6905 Special Warranty Karlin Oakwood LLC Avanath Oakwood LLC Improved08/30/2011 $23,350,000 20110459618 10261 / 2083 Special Warranty Oakwood Orlando LLC Karlin Oakwood LLC Improved08/01/2003 $15,175,000 20030433143 07030 / 1453 Special Warranty Casa 94 L P Oakwood Orlando LLC Improved04/07/1995 $9,816,400 19955203091 04880 / 3029 Special Warranty Oakwood Associates Casa 94 LP Improved11/01/1985 $100 19852418881 03713 / 2070 Warranty Deed Vacant


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Property Record - 08-23-29-2790-00- - Orange County Record - 08-23-29-2790-00-010 Orange County...

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