Active
1189 N Tamiami TRL
NORTH FORT MYERS FL, 33903
$1,850,000
Active
Commercial
Built in 1942
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.
224034568
MLSⓇ ID
April 12, 2024
Listed
May 10, 2024
Updated
Map
1189 N Tamiami TRL
NORTH FORT MYERS FL, 33903
Interior Features
Total Stories
1
Fireplace
No
Cooling
Yes
Heating
No
Exterior/Building Features
Lot Size
0.31 Acres
Sewer
Septic Tank
Other Property Details
Area Name
FN06 - North Fort Myers Area
Taxes
$6,568
Tax Frequency
Annually
Days on Market
25
Garage
No
View
No
County
Lee
Pool
No
Buyer Agency Compensation
0%
Listed by Asha Stalnaker, EXP Realty LLC
Listing Contact: 239-470-0444
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Adolfo Diaz shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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Data last updated 6:10 PM UTC, 5/10/2024