Northeast Family Office Acquires Lago Vista Multifamily Property In Kissimmee For $6.32M

A 40-unit multifamily property located at 180 Royal Palm Drive in Kissimmee, Florida, was sold for $6,320,000. The property spans 4.14 acres with a total square footage of 43,530, translating to a price per unit of $158,000 and a price per square foot of $145.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $6,320,000
• Units: 40
• Square Footage: 43,530
• Price Per Unit: $158,000
• Price Per Square Foot: $145
• Market: Kissimmee, FL
• Brokerage: Marcus & Millichap

The deal involved brokers Matt Prozzillo, Ben Skinner, Tarek Chbeir, and Cameron Strachota representing the transaction. The buyer, a Northeast-based family office, was attracted to the property’s value-add potential, which includes various operational improvements, renovations, and the possibility to add up to 10 additional units.