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1189 N Tamiami Trail

North Fort Myers, FL 33903
  • $1,850,000
  • STATUS: Active
  • ON SITE: 91 Days
  • MLS #: 224034568
UPDATED: 67 min ago
$1,850,000
  • 0
    BEDS
  • 0.31
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Commercial
Built:
1942
County:
Lee

School Ratings & Info

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: 11-44-24-01-00200.0020The 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.

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© 2024 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from FGCMLS. Data deemed reliable but not guaranteed.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. Information is deemed reliable but is not guaranteed accurate by the MLS or Clausen Properties, Inc.. Data last updated 2024-07-20T15:24:59.163.
www.clausenproperties.com/homes/149485024
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1189 N Tamiami Trail North Fort Myers, FL 33903

  • Price: $1,850,000
  • Status: Active
  • On Site: 91 Days
  • Updated: 67 min ago
  • MLS #: 224034568
0
Beds
0
Baths
0
½ Baths
0.31
Acres
1942
Built
Neighborhood:
Fn06 - North Fort Myers Area
County:
Lee
Area:
Fn06 - North Fort Myers Area
Property 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: 11-44-24-01-00200.0020The 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.
Exterior Features

Covered Spaces 0 Waterfront Features None Waterfront YN No

Property Features

Association Fee 0 Association Fee2 0 Association Fee3 0 Development Name Gulf Access YN 0 Land Lease Amount 0 Lease Considered YN No Potential Short Sale YN Property Condition Resale Property Sub Type Multi Family Restrictions Sewer Septic Tank Tax Annual Amount 6568.37 Tax Year 2023 Utilities Electricity AvailableSeptic AvailableTrash CollectionWater Available Zoning Description C-2

Listing courtesy of EXP Realty LLC.


© 2024 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from FGCMLS. Data deemed reliable but not guaranteed.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. Information is deemed reliable but is not guaranteed accurate by the MLS or Clausen Properties, Inc.. Data last updated 2024-07-20T15:24:59.163.
 
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