$1,035,000

About This Property

Located in the desirable southern area of Cape Coral, this rental property comprises 5 units and an impressive 125 linear feet of canal frontage, with Gulf access via the Rubican Canal. Constructed in 1978, the 5-plex features 5,580± rentable sf, with all 5 units functioning as 2-bedroom/2-bath. Currently, 4 of the 5 units are leased on a month-to-month basis, providing the purchaser with an excellent opportunity to increase the rental income by restructuring the current leases or sourcing new tenants after some minor renovations. Zoning and future land use allow for the development of up to 5 units, as the current 5-unit floor plan. • Waterfront rental product with five 2 bed/2 bath units. • Located within the Cape Coral sub-market, a metro area with the fourth highest projected population growth rate in the nation. • Substantial rental income upside, as current rental rates are significantly below market. • Property features 125’ of direct canal frontage • Situated just north of Cape Coral Pkwy, property is a short drive from DT Cape Coral, a 5-minute drive to grocery, retail, dining, & entertainment. • Brand new shingle roof completed in July of 2023.

infoProperty Details

Property Type

Multi-Family: Low Rise (1-3 Floors)

Year Built

1978

Lot Size

0.34 acres

Days on Market

0

Cumulative DOM

41

List Date

Dec 4, 2023

Sold Date

Mar 19, 2024

Annual Taxes

$8K (2023)

yardExterior & Lot

Mortgage calculator

Estimate excludes taxes, insurance, HOA dues, PMI, lender fees, and financial advice.

Listed By

LSI Companies Inc.

239-489-4066