12-Unit Multifamily Condo
For Sale
$2,250,000
409 FOUNTAINHEAD Circle, Kissimmee, FL 34741
Residential Income, KISSIMMEE, FL
Property Size10,652 SF
Lot Size0.17 Acres
Price / SF$211.23
Days on Market346
Property Features for 409 FOUNTAINHEAD Circle
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
X
Bedrooms
20
Bathrooms
19
Full bathrooms
19
Rooms
Bedroom 3, Bedroom 14, Bedroom 17, Bedroom 20, Bathroom 10, Bathroom 4, Bedroom 12, Bedroom 15, Bathroom 17, Bathroom 3, Bedroom 19, Bathroom 19, Bathroom 1, Bathroom 13, Bedroom 1, Bathroom 16, Bathroom 8, Bathroom 11, Bedroom 16, Bedroom 5, Bathroom 2, Bathroom 12, Bathroom 7, Bedroom 11, Bathroom 14, Bedroom 2, Bedroom 7, Bedroom 10, Bedroom 6, Bedroom 8, Bathroom 6, Bedroom 9, Bathroom 5, Bathroom 15, Bedroom 18, Bathroom 18, Bedroom 4, Bathroom 9, Bedroom 13
Pets allowed
Dogs OK, Cats OK
Pool private
1
Interior features
Open Floorplan
Exterior features
Outdoor Grill, Tennis Court(s)
Subdivision
BELLA VISTA CONDO
View
Lake
Directions
Westbound on W Columbia Ave. Property will be on the right.
Standard status
Active
APN
16-25-29-1039-0005-2330
Size
10,652 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
BELLA VISTA A CONDO CB 9 PG 93-113 OR 3156/106 BLDG 5 UNIT 233
Tax Annual Amount
25208
Legal Description
BELLA VISTA A CONDO CB 9 PG 93-113 OR 3156/106 BLDG 5 UNIT 233
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
central AC
screened-in patios or balconies
tennis court
swimming pool
playground
Building Details
Year built
1988
Number of units
12
Building materials
Frame
Roof type
Shingle
Listing Agency:
FLORIDA REALTY INVESTMENTS
(407) 207-2220
Listed By:
Tito Urbano Perez · License #3470017
(407) 907-0350
Added: Sep 24, 2025
Changed: Sep 3
Last Checked: Sep 4 at 9:06AM
MLS# TB8430923
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 condominium portfolio includes 12 individually owned units in separate buildings within a larger mid-rise community. Built in 1988, the portfolio contains 10,652 rentable square feet with a mix of one-, two-, and three-bedroom residences. Each unit includes central air conditioning and a screened patio or balcony. Electric service is separately metered, while water and trash are included in HOA fees; a utility recovery fee supports cost recovery.
The property is located at 409 Fountainhead Circle in Kissimmee, approximately 10 miles from Walt Disney World Resort, or about a 15-minute drive. Residents have access to community amenities including a swimming pool, tennis court, playground, and outdoor grill. Public water and sewer serve the property, which also offers access to Downtown Kissimmee, The Loop Shopping Center, US-192, and the Florida Turnpike.
The property is located at 409 Fountainhead Circle in Kissimmee, approximately 10 miles from Walt Disney World Resort, or about a 15-minute drive. Residents have access to community amenities including a swimming pool, tennis court, playground, and outdoor grill. Public water and sewer serve the property, which also offers access to Downtown Kissimmee, The Loop Shopping Center, US-192, and the Florida Turnpike.
Key Highlights
- 12 individually owned condominium units across separate buildings
- 10,652 rentable square feet with 1-, 2-, and 3‑bedroom units
- Built in 1988 with central AC in every unit
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
$100,895
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
4.48%
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%
$2,017,900
$2.0M
Cap Rate 7%
$1,441,357
$1.4M
Cap Rate 9%
$1,121,056
$1.1M
Market Conditions
NOI Build-Up for 10,652 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
$195.6K $18.36/SF
− Vacancy
−$12.1K −$1.14/SF
EGI
$183.4K $17.22/SF
− OpEx
−$82.6K −$7.75/SF
NOI
$100.9K $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%
$2,017,900
Cap Rate 7%
$1,441,357
Cap Rate 9%
$1,121,056
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,895 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,184 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,941
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 - Condominium units provide central air, screened outdoor spaces, and access to shared community amenities.
Where is this multifamily property located?
The property is located at 409 FOUNTAINHEAD Circle Kissimmee, FL.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 12 individually owned condominium units across separate buildings; 10,652 rentable square feet with 1-, 2-, and 3‑bedroom units; Built in 1988 with central AC in every unit
