22-Unit Multifamily
For Sale
$3,589,997
2218 GRAND CAYMAN COURT, Kissimmee, FL 34741
Residential Income, KISSIMMEE, FL
Property Size20,092 SF
Lot Size0.18 Acres
Price / SF$178.68
Days on Market311
Property Features for 2218 GRAND CAYMAN COURT
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
X
Bedrooms
39
Bathrooms
39
Full bathrooms
39
Rooms
Bathroom 5, Bathroom 21, Bedroom 21, Bathroom 31, Bedroom 35, Bathroom 13, Bedroom 25, Bedroom 11, Bathroom 32, Bedroom 37, Bathroom 16, Bathroom 10, Bedroom 26, Bedroom 38, Bathroom 9, Bathroom 36, Bedroom 2, Bedroom 29, Bathroom 6, Bathroom 24, Bedroom 27, Bathroom 26, Bathroom 33, Bathroom 29, Bathroom 4, Bedroom 17, Bedroom 31, Bathroom 28, Bathroom 37, Bedroom 10, Bedroom 32, Bathroom 22, Bedroom 19, Bedroom 34, Bedroom 24, Bedroom 6, Bedroom 18, Bedroom 36, Bedroom 28, Bedroom 1, Bathroom 11, Bathroom 8, Bathroom 3, Bathroom 2, Bathroom 27, Bathroom 30, Bathroom 18, Bedroom 15, Bedroom 30, Bathroom 25, Bedroom 4, Bathroom 7, Bedroom 12, Bedroom 16, Bathroom 19, Bedroom 13, Bathroom 23, Bedroom 9, Bathroom 12, Bathroom 17, Bedroom 7, Bathroom 35, Bedroom 23, Bathroom 14, Bedroom 5, Bathroom 15, Bedroom 20, Bedroom 22, Bathroom 39, Bedroom 39, Bathroom 1, Bedroom 3, Bedroom 8, Bedroom 33, Bathroom 38, Bedroom 14, Bathroom 34, Bathroom 20
Pets allowed
Dogs OK, Cats OK
Pool private
1
Exterior features
Lighting, Outdoor Kitchen, Sidewalk, Tennis Court(s)
Subdivision
VILLA DEL SOL KISSIMMEE
Directions
From 192 turn on North Hoagland Blvd and in one mile turn left in the community of Villa del Sol Kissimmee.
Standard status
Active
APN
18-25-29-2276-0001-1314
Size
20,092 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
VILLAS DEL SOL AT KISSIMMEE CONDO INC CB 7 PG 132-133 OR 2785/2688 BLDG 2218 UNIT 1314
Tax Annual Amount
53407
Legal Description
VILLAS DEL SOL AT KISSIMMEE CONDO INC CB 7 PG 132-133 OR 2785/2688 BLDG 2218 UNIT 1314
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
pool
fitness center
tennis court
playgrounds
car wash area
Building Details
Year built
1999
Number of units
22
Building materials
Frame
Roof type
Shingle
Additional Structures
Outdoor Kitchen
Listing Agency:
LPT REALTY, LLC
(877) 366-2213
Listed By:
Victor Avila · License #3372973
(407) 962-5738
Added: Oct 23, 2025
Changed: Aug 28
Last Checked: Aug 29 at 6:06PM
MLS# S5137232
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily portfolio includes 22 units totaling 20,092 square feet on 0.18 acres within Villa del Sol in Kissimmee. The property was built in 1999 and features frame construction, shingle roofing, central heating, central air conditioning, public water, and public sewer. Outdoor improvements include lighting, an outdoor kitchen, sidewalks, and tennis courts, while the community provides a pool, fitness center, playgrounds, and a car wash area.
The property is short-term rental approved and is positioned near malls, shopping, dining, and entertainment in the Kissimmee area. Disney World is less than 20 minutes away. The portfolio is zoned X, and seller financing is available according to the stated offering terms.
The property is short-term rental approved and is positioned near malls, shopping, dining, and entertainment in the Kissimmee area. Disney World is less than 20 minutes away. The portfolio is zoned X, and seller financing is available according to the stated offering terms.
Key Highlights
- 22‑unit multifamily portfolio
- 20,092 square feet on 0.18 acres
- Short‑term rental approved within Villa del Sol
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$190,310
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,806,200
$3.8M
Cap Rate 7%
$2,718,714
$2.7M
Cap Rate 9%
$2,114,556
$2.1M
Market Conditions
NOI Build-Up for 20,092 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$368.9K $18.36/SF
− Vacancy
−$22.9K −$1.14/SF
EGI
$346.0K $17.22/SF
− OpEx
−$155.7K −$7.75/SF
NOI
$190.3K $9.47/SF
Area
Polk County, FL
Vacancy
6.20%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,806,200
Cap Rate 7%
$2,718,714
Cap Rate 9%
$2,114,556
Alternative Uses
Best Use
Apartment 5plus
$2.72M
$2.38M – $3.17M
NOI $190,310 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.83M
$4.22M – $5.63M
NOI $337,980 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
22
Residential units
Location Intelligence
Trade Area within ½ mile
731
Businesses Nearby
Explore this area
Business Placement
Demographics for 34741, FL
56,454
Population
22,043
Households
2.6
Avg Household Size
35
Median Age
28%
College-Educated
87%
High-School Grad
15.0 sq mi
ZIP Area
3,764
Density / Sq Mi
$50,278
Median Household Income
$30,415
Median Earnings
$1,591
Median Rent
$270,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Short-term rental approval is paired with community pool, tennis, fitness, and playground amenities.
Where is this multifamily property located?
The property is located at 2218 GRAND CAYMAN COURT Kissimmee, FL.
What is the asking price?
The asking price for this property is $3,589,997.
What are key features of this property?
This property features: 22‑unit multifamily portfolio; 20,092 square feet on 0.18 acres; Short‑term rental approved within Villa del Sol
