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Disney Area Apartments Sells for Nearly $18M

ORLANDO-Locally based Images LLC pays Images Del American Ltd. of Altamonte Springs approximately $17.8 million, or $69,336 per unit, for the 256-unit Images Apartments on Osceola Parkway, a half mile from the entrance to the 30,000-acre attraction.

By Alex Finkelstein | Updated on November 10, 2004

ORLANDO-Images Apartments, a 14-year-old, 256-unit rental community a half mile from the entrance to Walt Disney World, is under new ownership today. Locally based Images LLC pays Images Del American Ltd. of Altamonte Springs approximately $17.8 million, or $69,336 per unit, for the Osceola Parkway property.

“In my 16 years of commercial brokerage, this was the first transaction that took a direct hit from three hurricanes while under contract and we were still able to close,” says Robert E. Smith, president of locally based Smith Equities Corp. Debbie M. Coble of Smith Equities worked with Smith on the deal.

The average living area of the units is 873 sf with average asking monthly rents starting at $753. The per sf price of the property is $79.40.

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