10 - Condominium Portfolio
Multi-Family
for Sale
| Catylist Listing ID: |
30823448 |
| Property Subtypes: |
Low-Rise/Garden
|
| Number of Units: |
10 Units |
| Building Size (RSF): |
6,770 SF |
| Gross Building Area: |
25,050 SF |
| Gross Land Area: |
0.98 Acres
|
| Sale Price: |
$1,200,000 |
| Unit Price: |
$120,000 Per Unit |
| Property Use Type: |
Investment |
| Building Name: |
Banyan Tree Condo |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
8.6% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
5/15/2023 |
Overview / Comments
Incredible investment opportunity in the heart of Fort Myers, FL. Ten condominium units are included in this package; all are two bedrooms with one full bath. All units are currently occupied with annual leases in place. Partial remodel in eight out of ten units. Rents are near market value, generating a very healthy NOI.
***Also available is a separate 3 - Condo Portfolio, creating a 13 Condo Portfolio giving an investor majority ownership.***
|
Financials
| Finance Data Year |
2022 |
| Real Estate Taxes - Annual($) |
$10,752 (Annual) |
| Gross Operating Income |
$134,550 (Annual) |
| Net Operating Income |
$105,947 (Annual) |
| Actual or Proforma Year |
Actual |
Additional Details
| Nearest MSA: |
Cape Coral-Fort Myers |
| County: |
Lee |
| Submarket Type: |
Suburban |
| Taxing Authority: |
City/County |
| Tax ID/APN: |
084425P40200000CE |
| Zoning: |
RS-7 |
| Percent Occupied: |
100% |
| Highway Access: |
Off Palm Beach Blvd. (SR-80). Approximately 3 miles to I-75. |
| Airports: |
SW Florida International Airport (RSW) |
| Site Description: |
Three separate buildings make up Banyan Tree Condo. Our ten units are throughout—parking space for 40 vehicles. |
| Total Number of Buildings: |
3 |
| Property Condition: |
Average |
| Number of Stories: |
2 |
| Year Built: |
1985 |
| Roof Type: |
Gable |
| Construction/Siding: |
Stucco, Wood Frame |
| Parking Type: |
Surface |
| Total Parking Spaces: |
40 |
| Laundry: |
In Each Unit |
| Sprinklers: |
Wet |
| Heat Type: |
Electricity, Space Heaters |
| Heat Source: |
Wall Units |
| Fuel: |
Electric |
| Air Conditioning: |
Other |
| Zoning Description: |
RS-7 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Easements: |
Electric Lines |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
10,942 |
49,081 |
105,071 |
| Median Age: |
29.88 |
40.61 |
42.81 |
| Households: |
3,442 |
18,662 |
43,768 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither Southwest Florida Commercial Alliance nor
Moody's assume any liability for errors or omissions.
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