Press Releases
Marcus & Millichap Brokers $6.32M Sale of Multifamily Property in Central Florida
July 08, 2026
KISSIMMEE, Fla., July 8, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Lago Vista, a multifamily property in Kissimmee, Florida. The asset sold for $6,320,000.
“Lago Vista generated significant investor interest during the marketing period because it represented a rare opportunity to acquire a property that had never previously traded as a multi-family asset, offering a level of operational and physical value-add upside that is increasingly difficult to find in today's market,” said Matthew Prozzillo, senior director investments in Marcus & Millichap’s Orlando office. “The buyer, a Northeast-based family office, was attracted to the property's value-add potential through both operational improvements, re-branding and the completion of a strategic renovation program.”
Prozzillo, Benjamin Skinner, Tarek Chbeir and Cameron Strachota of Marcus & Millichap exclusively marketed the property on behalf of the seller, a private individual, and procured the buyer, a Northeast-based family office.
The nine-building property consists of 43,530 rentable square feet on 4.14 acres. There are 40 two-bedroom, two-bath apartments and a manager's unit. Lago Vista was built in 1974 and 1982. The exterior has been consistently maintained and upgraded, and 70% of the units have been renovated. Amenities include a leasing office, laundry facilities, a shuffleboard court, a swimming pool, an outdoor lounge area, a playground and a dog park. The property also includes space for up to 10 additional units.
“Positioned between Lake Nona's expanding medical and innovation district and NeoCity's emerging semiconductor campus, the property offers direct exposure to some of Central Florida's most significant long-term employment and population growth drivers. The successful sale of Lago Vista demonstrates that investors remain highly motivated to pursue assets with identifiable upside in growth-oriented Central Florida submarkets,” added Prozzillo.
Located at 180 Royal Palm Drive, Lago Vista is close to the Orlando International Airport, Heritage Park and Florida’s Turnpike.
“Lago Vista generated significant investor interest during the marketing period because it represented a rare opportunity to acquire a property that had never previously traded as a multi-family asset, offering a level of operational and physical value-add upside that is increasingly difficult to find in today's market,” said Matthew Prozzillo, senior director investments in Marcus & Millichap’s Orlando office. “The buyer, a Northeast-based family office, was attracted to the property's value-add potential through both operational improvements, re-branding and the completion of a strategic renovation program.”
Prozzillo, Benjamin Skinner, Tarek Chbeir and Cameron Strachota of Marcus & Millichap exclusively marketed the property on behalf of the seller, a private individual, and procured the buyer, a Northeast-based family office.
The nine-building property consists of 43,530 rentable square feet on 4.14 acres. There are 40 two-bedroom, two-bath apartments and a manager's unit. Lago Vista was built in 1974 and 1982. The exterior has been consistently maintained and upgraded, and 70% of the units have been renovated. Amenities include a leasing office, laundry facilities, a shuffleboard court, a swimming pool, an outdoor lounge area, a playground and a dog park. The property also includes space for up to 10 additional units.
“Positioned between Lake Nona's expanding medical and innovation district and NeoCity's emerging semiconductor campus, the property offers direct exposure to some of Central Florida's most significant long-term employment and population growth drivers. The successful sale of Lago Vista demonstrates that investors remain highly motivated to pursue assets with identifiable upside in growth-oriented Central Florida submarkets,” added Prozzillo.
Located at 180 Royal Palm Drive, Lago Vista is close to the Orlando International Airport, Heritage Park and Florida’s Turnpike.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
