Disney is selling the 468-unit Vista Way apartment complex located near Walt Disney World, Orlando Business Journal reports.
Vista Way is located at 13501 Meadow Creek Drive, near State Road 535 and I-4. The complex is currently vacant after occupants were moved to the new Flamingo Crossings Village apartments, which opened in December and has approximately triple the number of units.
Vista Way was built between 1988 and 1990 for Walt Disney World Cast Members and operating participants. It features two pools, two clubhouses, a fitness center, and more. It is billed as a “strong lease-up” opportunity, according to the marketing materials Orlando Business Journal obtained. The property’s market value was $63.1 million in 2020, but it will likely sell for much more than that.
CBRE Group Inc.’s land team of Senior Vice President Robbie McEwan, Associate Austin Weller, and Associate Michael McEwan and apartment team Vice President Chip Wooten and Senior Associate Jeff Gray are marketing the site. Five acres are also potentially for sale for “investors interested in ground-up development.”
Neither Disney nor CBRE Group were immediately available for comment to Orlando Business Journal.
If you think Disney’s hotels are over priced … these units are/were a gold mine. Disney packed 6 cast members in each 3 bedroom unit and charged them $600 a month when my daughter was a college intern there. That’nearly $1.7 million a month, $20.2 million a year, in rental income from that property.
Sure, but it was a fun time!
Got it free.. used it up and sell for a big profit… sounds legit