For sale: Condos in $80K range close to I-4

224-unit Altamonte project has 30-plus reservations the first week of listing.

A new condominium conversion project here is selling units in the $80,000 range — price points that would be hard to match right now in the [tag]Central Florida[/tag] market, real estate observers say. [tag]Serra Vella at Spring Valley[/tag], a former apartment community at [tag]Wymore Road[/tag] and [tag]State Road 436[/tag], consists of 224 units located near Interstate 4.

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Condo conversion units are priced anywhere in the $80,000 range and even the $100,000 range are virtually unheard of, says Brenda Genant, regional director of sales for the Central Florida division of [tag]Coldwell Banker[/tag] The Condo Store, which is also handling sales for the project. “This is one of the best values in the market, and it’s one of the lowest-priced condos in Central Florida right now, if not the lowest,” Genant says. Tony Martin, executive vice president with Tarragon Corp.’s Florida division, says some of his company’s biggest successes have been taking properties they have owned for a long time and selling them for a “reasonable profit.”