Waterfront - Seller Financing
Address
1189 N Tamiami Trail, North Fort Myers, FL
Price
$ 1,850,000
Property Attributes
- MLS#224034568
- TypeCommercial
- CountyLEE
- CityNorth Fort Myers
- AreaFN06 - North Fort Myers Area
- Zip33903
- StyleMulti Family
- Year Built1942
- Taxes$ 6568
- Price$ 1,850,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.313 Acres
Data Source:
Florida Gulf Coast MLS (SWFLMLS)
Property Description
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.
| Price History | |
|---|---|
| 4/15/2024 | Listed $1,850,000 |
General Features
| Sewer | Septic Tank |
|---|---|
| Utilities | Electricity Available,Septic Available,Trash Collection,Water Available |
| Year Built | 1942 |
| Property SubType | Multi Family |
| Tax Year | 2023 |
| Waterfront Features | None |
| County | Lee |
| Property Type | Commercial Sale |
| Status | Active |
| City | NORTH FORT MYERS |
| Buyer Agent Compensation | 0% |
| Zoning Description | C-2 |
| MLS Area | FN06 - North Fort Myers Area |
| Street Name | Tamiami |
| Tax Annual Amount | 6568.37 |
| Property Condition | Resale |
| Days on Market | 25 |
| Standard Status | Active |
| PostalCity | NORTH FORT MYERS |
| Legal Description | CABANA CITY BLK.R PB 8 PG 61 LOTS 1 THRU 23 INC. |
Interior Features
| Total Stories | 1 |
|---|---|
| Air Conditioning Y/N | Yes |
| Street Suffix | Trail |
Exterior Features
| Lot Size Area | 0.313 |
|---|---|
| Canal Width | None |
| Lot Size Acres | 0.313 |
| Lot Size Units | Acres |
| Lot Size Source | Appraiser |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 33903
Price
Taxes
Visits
Year Built
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Updated on May 11, 2024 5:39 PM UTC
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© 2024 Florida Gulf Coast MLS (FGCMLS) Information deemed reliable, but not guaranteed. The IDX data relating to real estate for sale on this web site comes in part from the Florida Gulf Coast Multiple Listing Service. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
