$1,850,000 $9,931 est/mo Sourced by Back At You

1189 N Tamiami Trl,NORTH FORT MYERS, FL 33903

NORTH FORT MYERS FL, 33903

Share with a friend

Description

Just minutes from Downtown Fort Myers, this multifamily gem in North Fort Myers presents a rare investment opportunity for investors. Encompassing two parcels, the expansive property includes a diverse portfolio of 17 units, including a five-plex, a four-bedroom caretaker unit with an attached apartment, a duplex, and five charming cottages. Renovated in 2018, these residences have undergone a comprehensive transformation, featuring new roofs, electrical systems, plumbing, septic systems, impact doors, windows, and stylish interior remodels. Property is being sold as a portfolio with 15-17 Cypress St PID: 11-44-24-01-00200.0020 The property is now yielding a cap rate of 10.2%. Tenants are responsible for electricity, and a single water meter efficiently serves both parcels. Recent septic system installed - saving you peace of mind that all renovations have been made. Adding to the property's appeal, an on-site caretaker oversees day-to-day management. The property is also Section 8 approved! The surrounding area's economic vitality further enriches the investment landscape, with an average household income of $66,472 annually within a 5-mile radius. A projected annual population growth of 3.44% from 2023 to 2028 underscores the area's allure for residents and investors. North Fort Myers, situated on the picturesque Caloosahatchee River, offers a vibrant setting just 12 miles upriver from the Gulf of Mexico. Whether catering to full-time residents, part-timers, or vacationers, the city's unique waterfront ambiance and amenities make it an enticing destination. The broader Southwest Florida region surrounding Fort Myers also boasts natural beauty and diverse opportunities for outdoor activities, creating a compelling narrative for this multifamily offering. Jump at the chance to acquire a desirable multifamily investment in Southwest Florida's coastal landscape. SELLER FINANCING OFFERED: $1,850,000, $450,000 DOWN, 6% INTEREST ONLY, 5 YEAR BALLOON AMORTIZED OVER 30 YEARS.

Details

MLS#224034568
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Year1942
Days On Site30
Listing Provided ByEXP Realty LLC | Asha Stalnaker

Features

Story(s)1
ZoningC-2
Acreage0.31
Water FrontYes

Market Activity 33903

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Naples Area Board of REALTORS.

Request a showing

Request a showing

Loading Form
Listings Checked: 13 minutes ago

Contact

Learn More About This Property

StateFL
CountyLee
CityNORTH FORT MYERS
Zip Code33903
Listing VS Median (in 33903)
Price:
$1,850,000
low | high
Med:
$229,000
100% of Average
On Site:
30
low | high
Med:
23.000000
100% of Average
Sourced by Back At You
Listing Updated: May 10, 2024 at 12:32:18 PM PDT