Kissimmee Condominium Portfolio For
For Sale
$2,250,000
409 FOUNTAINHEAD, Kissimmee, FL 34741
12-unit condominium portfolio near Walt Disney World Resort.
Property Size10,652 SF
Lot Size0.17 Acres
Price / SF$211.23
Days on Market167
Property Features for 409 FOUNTAINHEAD
General Information
Standard status
Active
Size
10,652 SF
Lot size
0.17 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$25,208
Building Details
Building Size
10,652 SF
Year Built
1988
Units
12
Listing Agency:
Lawhun Enterprises, LLC
(407) 907-0350
Listed By:
Tito Urbano Perez · License #3470017
(407) 907-0350
Source:
Elliman
Added: Mar 10
Changed: Aug 23
Last Checked: Aug 23 at 5:47AM
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 Bella Vista Condos are a portfolio of 12 condominium units situated at 409 Fountainhead Circle, Kissimmee, Florida 34741. Constructed in 1988, these units are part of a larger mid-rise development and encompass a total rentable area of 10,652 square feet. The unit mix includes one, two, and three-bedroom configurations. Each unit is equipped with central air conditioning and a screened-in patio or balcony. Tenants are responsible for their electric bills, which are separately metered. Water and trash services are included in the HOA fees, and the landlord recovers costs through a utility recovery fee. The property is located approximately 10 miles from Walt Disney World Resort, which is about a 15-minute drive. The location is positioned to attract renters from the tourism, hospitality, and service industries. Residents have access to entertainment, shopping, and dining options in the Kissimmee/Disney corridor. The property is situated on a 16.6-acre community, offering residents open space and shared amenities such as a tennis court, swimming pool, and playground. The property is also located near Downtown Kissimmee, The Loop Shopping Center, and major commuter routes including US-192 and the Florida Turnpike.
Key Highlights
- Located just 15 minutes from Walt Disney World Resort
- Portfolio of 12 condo units totaling 10,652 sq ft
- Balanced mix of 1, 2, and 3‑bedroom units
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
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?
Apartment building - 12-unit condominium portfolio near Walt Disney World Resort.
Where is this apartment building located?
The property is located at 409 FOUNTAINHEAD 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: Located just 15 minutes from Walt Disney World Resort; Portfolio of 12 condo units totaling 10,652 sq ft; Balanced mix of 1, 2, and 3‑bedroom units
