A CONDO apartment is a type of housing UNIT that is owned by an individual or family. It is similar to an apartment in that it is usually part of a larger building, but it is owned rather than rented. The term 'CONDO' is derived from the word 'condominium, ' which is a form of ownership where multiple units are owned by different people. CONDO apartments typically have amenities such as swimming pools, fitness centers, and other shared facilities.