Condominium Portfolio Near Disney
For Sale
$2,250,000
2206 ANTIGUA, Kissimmee, FL 34741
12-unit condominium portfolio near Disney, ideal for investors.
Property Size12,004 SF
Lot Size0.18 Acres
Price / SF$187.44
Days on Market166
Property Features for 2206 ANTIGUA
General Information
Standard status
Active
Size
12,004 SF
Lot size
0.18 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$29,787
Building Details
Building Size
12,004 SF
Year Built
1999
Units
12
Listing Agency:
Lawhun Enterprises, LLC
(407) 907-0350
Listed By:
Tito Urbano Perez · License #3470017
(407) 907-0350
Source:
Elliman
Added: Mar 11
Changed: Aug 23
Last Checked: Aug 23 at 5:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lawhun Enterprises, LLC
Investment Insights
Based on property information with market context.
The Villa del Sol Condos comprise a stabilized 12-unit condominium portfolio located in Kissimmee, Florida. Constructed in 1999, the portfolio consists of 12 individually owned condo units totaling 12,004 square feet, situated within a larger 35-acre residential development. Each unit features a 2-bedroom layout, with most offering 2 bathrooms and averaging over 1,000 square feet. All units include central AC and modern interiors, with access to shared community amenities. Tenants are responsible for separately metered electric, while water and trash services are included in the HOA fees, with the landlord recovering costs via a utility recovery fee. The property features resort-style amenities, including two swimming pools and tennis courts. Located approximately 15 minutes from Walt Disney World Resort, this location is suited to attract steady rental demand from the local workforce in the hospitality and tourism industries, or capitalize on the short-term rental market.
Key Highlights
- Prime location just 8 miles from Walt Disney World, offering strong rental demand.
- Stabilized 12‑unit condominium portfolio totaling 12,004 square feet.
- Each unit features a 2‑bedroom layout, most with 2 bathrooms, and averaging over 1,000 SF.
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
$113,701
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
5.05%
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%
$2,274,020
$2.3M
Cap Rate 7%
$1,624,300
$1.6M
Cap Rate 9%
$1,263,344
$1.3M
Market Conditions
NOI Build-Up for 12,004 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
$220.4K $18.36/SF
− Vacancy
−$13.7K −$1.14/SF
EGI
$206.7K $17.22/SF
− OpEx
−$93.0K −$7.75/SF
NOI
$113.7K $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%
$2,274,020
Cap Rate 7%
$1,624,300
Cap Rate 9%
$1,263,344
Alternative Uses
Best Use
Apartment 5plus
$1.62M
$1.42M – $1.90M
NOI $113,701 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.88M
$2.52M – $3.37M
NOI $201,926 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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?
Apartment building - 12-unit condominium portfolio near Disney, ideal for investors.
Where is this apartment building located?
The property is located at 2206 ANTIGUA 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: Prime location just 8 miles from Walt Disney World, offering strong rental demand.; Stabilized 12‑unit condominium portfolio totaling 12,004 square feet.; Each unit features a 2‑bedroom layout, most with 2 bathrooms, and averaging over 1,000 SF.
