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0.67 Acres Lot
0.67 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Multi-Family: 5+ Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 225046592
Year Built 1972
Annual Tax Amount $6,680
Tax Year 2024
Lot Size 0.674 Acres
Acres 0.674
Property Sub-Type Multi-Family: 5+ Units
Source Florida Gulf Coast
Property Description
This concrete block 8-plex in North Fort Myers delivers steady income and minimal upkeep. The building includes 5 two-bedroom units and 3 one-bedroom units, totaling 13 bedrooms and 8 bathrooms, with each unit averaging around 700 sq ft.
Gross rental income in 2024 was $93,795, and with professional management included in expenses, the property yields a 7.61% cap rate. Tenant history is strong, with several long-term residents, and all current leases are month-to-month, offering flexibility for future adjustments.
The property sits on a .67-acre lot with plenty of room, featuring paved parking and a grassy overflow area for additional vehicles. Recent upgrades include a 2023 ROOF, new septic system (per property manager), fresh exterior paint, new front windows, and new paved parking. All units but one have been updated, and three units are currently vacant, offering immediate income potential in a high-demand rental market.
Conveniently located near Walmart, Home Depot, restaurants, schools, and public transportation via US-41 and nearby bus stops.
Owner pays garbage, water, and mowing. Tenants pay everything else.
Please do not disturb tenants.
Location
State FL
County Lee
Area Fn06 - North Fort Myers Area
Zoning C-1
Direction Head north on N Tamiami Trail Take a left on W Mariana Ave Property on the right
Interior
Cooling Central Air
Inclusions Building And Land
Exterior
Utilities Available Electricity Available, Trash Removal, Water Available
Waterfront Description None
Total Parking Spaces 12
Private Pool No
Building
Faces Head north on N Tamiami Trail Take a left on W Mariana Ave Property on the right
Sewer Septic Tank
New Construction No
Others
Tax ID 02-44-24-04-00006.0030