$855,000

About This Property

BUYER FINANCING COMMITMENT WAS REVOKED ON CLOSING DAY. Their opportunity lost is your gain! 8-Plex Income Property on Large Lot with Strong Cap Rate. 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, and new front windows. 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.