21-Unit Apartment
For Sale
$3,426,816
2218 GRAND CAYMAN COURT, Kissimmee, FL 34741
Residential Income, KISSIMMEE, FL
Property Size20,092 SF
Lot Size0.18 Acres
Price / SF$170.56
Days on Market346
Property Features for 2218 GRAND CAYMAN COURT
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
X
Bedrooms
37
Bathrooms
37
Full bathrooms
37
Rooms
Bathroom 31, Bedroom 6, Bathroom 2, Bathroom 22, Bedroom 23, Bedroom 18, Bathroom 35, Bathroom 11, Bedroom 2, Bedroom 21, Bathroom 19, Bathroom 23, Bathroom 25, Bathroom 7, Bedroom 36, Bedroom 37, Bedroom 28, Bedroom 4, Bathroom 27, Bathroom 21, Bathroom 29, Bedroom 5, Bathroom 26, Bedroom 17, Bedroom 16, Bathroom 9, Bathroom 10, Bathroom 33, Bedroom 22, Bathroom 12, Bathroom 15, Bedroom 3, Bathroom 20, Bathroom 1, Bedroom 19, Bedroom 24, Bedroom 26, Bathroom 4, Bathroom 32, Bedroom 32, Bathroom 14, Bedroom 11, Bathroom 5, Bedroom 25, Bathroom 13, Bathroom 16, Bedroom 31, Bathroom 34, Bedroom 33, Bathroom 24, Bedroom 15, Bedroom 14, Bedroom 12, Bedroom 20, Bedroom 29, Bedroom 35, Bathroom 37, Bedroom 1, Bedroom 10, Bathroom 18, Bathroom 30, Bedroom 7, Bedroom 27, Bedroom 34, Bedroom 8, Bedroom 30, Bathroom 28, Bathroom 3, Bedroom 9, Bathroom 6, Bathroom 36, Bathroom 17, Bedroom 13, Bathroom 8
Pets allowed
Cats OK, Dogs 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
21
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: Oct 1
Last Checked: Oct 3 at 1:06PM
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 21-unit apartment portfolio contains 20,092 square feet on a 0.18-acre site in the Villa del Sol community. Built in 1999, the frame property includes central heating and central air, a shingle roof, public water, and public sewer. The property is designated under zoning X and includes a private pool.
Villa del Sol provides shared amenities that include a pool, fitness center, tennis court, playgrounds, a car wash area, sidewalks, lighting, and an outdoor kitchen. Short-term rentals are approved within the community, supporting both vacation-rental and longer-term residential use. The property is located at 2218 Grand Cayman Court in Kissimmee, near shopping, dining, entertainment, and major malls, with Disney World less than 20 minutes away.
Villa del Sol provides shared amenities that include a pool, fitness center, tennis court, playgrounds, a car wash area, sidewalks, lighting, and an outdoor kitchen. Short-term rentals are approved within the community, supporting both vacation-rental and longer-term residential use. The property is located at 2218 Grand Cayman Court in Kissimmee, near shopping, dining, entertainment, and major malls, with Disney World less than 20 minutes away.
Key Highlights
- 21‑unit apartment portfolio totaling 20,092 square feet
- Located within the Villa del Sol community
- Short‑term rentals approved within the community
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
$246,736
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
7.20%
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%
$4,934,720
$4.9M
Cap Rate 7%
$3,524,800
$3.5M
Cap Rate 9%
$2,741,511
$2.7M
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
$479.8K $23.88/SF
− Vacancy
−$31.2K −$1.55/SF
EGI
$448.6K $22.33/SF
− OpEx
−$201.9K −$10.05/SF
NOI
$246.7K $12.28/SF
Area
Osceola County, FL
Vacancy
6.50%
Lease Rate
$23.88 /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%
$4,934,720
Cap Rate 7%
$3,524,800
Cap Rate 9%
$2,741,511
Alternative Uses
Best Use
Apartment 5plus
$3.52M
$3.08M – $4.11M
NOI $246,736 @ 7.0% cap · market cap 7.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.21M
$5.44M – $7.25M
NOI $434,891 @ 7.0% cap · market cap 12.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
21
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Short-term rental approval complements community pool, tennis, and fitness amenities.
Where is this apartment building located?
The property is located at 2218 GRAND CAYMAN COURT Kissimmee, FL.
What is the asking price?
The asking price for this property is $3,426,816.
What are key features of this property?
This property features: 21‑unit apartment portfolio totaling 20,092 square feet; Located within the Villa del Sol community; Short‑term rentals approved within the community
