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1189 N Tamiami Trail, North Fort Myers, FL 33903

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For Sale
Sale Pending

$1,700,000

0.31 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • 0.3 acres
    Lot size

  • Over 50 Years Old
    Age

Explore this Property

MOTIVATED SELLER WITH CASH OFFER! RECENT APPRAISAL FOR 1.7M! 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.
MLS# 224034568

Courtesy Of EXP Realty LLC

(888) 883-8509

Property Features

  • Age
    Over 50 Years Old
  • Lot Size
    0.31 Acres

Map and Directions

Directions to 1189 N Tamiami Trail, North Fort Myers, FL 33903

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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