Turnkey 6-Unit Multifamily
For Sale
$1,585,000
272 HART LANE, Kissimmee, FL 34743
Well-maintained 6-unit multifamily with separately metered utilities and in-unit washer/dryer in each unit.
Property Size6,856 SF
Price / SF$231.18
Days on Market40
Property Features for 272 HART LANE
General Information
Standard status
Active
Size
6,856 SF
Property subtype
Multi-Family 5+
Occupancy
100%
Additional Details
Multifamily Units
6
Amenities
on-site parking
handicap-accessible parking
street lighting
ceiling fans
in-unit washer/dryer
fully equipped kitchen
Building Details
Year Built
2018
Listing Agency:
KEY TO FLORIDA REALTY
(239) 776-9260
Listed By:
Rhonda Ryals · License #3387094
Source:
Dennisrealty
Added: Jul 16
Changed: Aug 23
Last Checked: Aug 23 at 8:25AM
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 KEY TO FLORIDA REALTY
Investment Insights
Based on property information with market context.
This well-maintained 6-unit multifamily property offers a turnkey, income-producing setup with 100% occupancy reported at the time of listing. Each unit features three bedrooms and two bathrooms with a living area, breakfast bar, and split-bedroom layout. Flooring is hard-surface throughout, and unit interiors include ceiling fans and hall closets. Kitchens are equipped with a smooth-top range, microwave, refrigerator, dishwasher, and garbage disposal. Each unit also includes an in-unit stackable washer and dryer.
Utilities are separately metered for each unit, with water and electric serviced separately. The property provides ample on-site parking, including designated handicap-accessible spaces, and benefits from street lighting.
All six units share a similar layout, with slight variations that create individuality across the building while maintaining a consistent overall configuration.
Utilities are separately metered for each unit, with water and electric serviced separately. The property provides ample on-site parking, including designated handicap-accessible spaces, and benefits from street lighting.
All six units share a similar layout, with slight variations that create individuality across the building while maintaining a consistent overall configuration.
Key Highlights
- 2018‑built 6‑unit multifamily with 100% occupancy and no vacancies reported at the time of listing
- Each unit has 3BR/2BA layout with hard‑surface flooring throughout (no carpet) and a split‑bedroom design
- Kitchens include smooth‑top range, microwave, refrigerator, dishwasher, and garbage disposal
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
$64,940
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
4.10%
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%
$1,298,800
$1.3M
Cap Rate 7%
$927,714
$927.7K
Cap Rate 9%
$721,556
$721.6K
Market Conditions
NOI Build-Up for 6,856 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
$125.9K $18.36/SF
− Vacancy
−$7.8K −$1.14/SF
EGI
$118.1K $17.22/SF
− OpEx
−$53.1K −$7.75/SF
NOI
$64.9K $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%
$1,298,800
Cap Rate 7%
$927,714
Cap Rate 9%
$721,556
Alternative Uses
Best Use
Apartment 5plus
$927.7K
$811.8K – $1.08M
NOI $64,940 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.65M
$1.44M – $1.92M
NOI $115,329 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
Explore this area
Business Placement
Demographics for 34743, FL
38,454
Population
13,307
Households
2.9
Avg Household Size
39
Median Age
20%
College-Educated
85%
High-School Grad
6.9 sq mi
ZIP Area
5,573
Density / Sq Mi
$59,186
Median Household Income
$34,640
Median Earnings
$1,738
Median Rent
$277,700
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 - Well-maintained 6-unit multifamily with separately metered utilities and in-unit washer/dryer in each unit.
Where is this apartment building located?
The property is located at 272 HART LANE Kissimmee, FL.
What is the asking price?
The asking price for this property is $1,585,000.
What are key features of this property?
This property features: 2018‑built 6‑unit multifamily with 100% occupancy and no vacancies reported at the time of listing; Each unit has 3BR/2BA layout with hard‑surface flooring throughout (no carpet) and a split‑bedroom design; Kitchens include smooth‑top range, microwave, refrigerator, dishwasher, and garbage disposal
