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MKX Lakeside

4985 W Irlo Bronson Memorial Hwy, Kissimmee, FL 34746, USA


Investment Available

Purchase Price


Rehab Budget


Stabilized Value




Property Description


MKX Lakeside is situated at the center of Kissimmee, FL, offering convenient access to highways, shopping, dining, and major theme parks like Disney World and Universal Studios. The property boasts 150 units, including 136 studio units and fourteen one-bedroom or suites, all of which have been recently renovated. The county has approved re-zoning of this once-hotel to multi-family residences. Orlando is among the top five cities in America with the highest growth rate of multi-family rentals. The renovation budget allows for the installation of kitchenettes in each unit, an upgrade to the pool, renovation of the lobby to a functioning gym and co-working space, and the addition of outdoor civic spaces for the future MKX Lakeside tenants. Upon stabilization, the property is anticipated to have a value north of $31.8M, based on the high demand for studio units in the Kissimmee/Orlando area and comparable assets.


Absorption: Nearly 13,000 units have been absorbed in Orlando over the past year, comprising 2.3% of all multifamily absorption in the U.S., or equating to one out of every 50 units nationwide.

Rent Increase: Asking rents are up 23.6% year over year ($1380 for a 260 sf unit across the street)— more than double the National Index, and further growth in rents between 6% and 8% is projected by the end of 2024.

Low Vacancies: Fueled in large part by in-migration to the area, the market's vacancy rate hovered in the 7% to 9% range for the trailing 12-month period pre-pandemic before reaching a peak of 10% midway through 2020. Demand has since returned, dropping the vacancy rate to 4.9%.

Need for Market Rate Rent: The average median household income in Orlando is approximately 7% lower than the U.S. average, and yet rent growth in Orlando is outpacing the U.S. at large by a factor of more than two to one.

Property Details

Property Type

Motel Conversion | Multifamily


79,736 sf



Target Cash on Cash


Year Built




Property Location

4985 W Irlo Bronson Memorial Hwy, Kissimmee, FL 34746, USA

Investing involves risk, including loss of principal. Past performance does not guarantee or indicate future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. While the data we use from third parties is believed to be reliable, we cannot ensure the accuracy or completeness of data provided by investors or other third parties. Neither Metz Kelly Holdings nor any of its affiliates provide tax advice and do not represent in any manner that the outcomes described herein will result in any particular tax consequence. The opportunities within these pages or documents do NOT constitute offers to sell securities or stock, or solicitations of offers to buy securities or stock. Prospective partners should consult with a tax or legal adviser before making any investment decision.

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