1001 Polk St - Multi-Family FOR SALE


Fort Myers, FL 33916
$950,000 USD
239-329-7322
1001 Polk St, Fort Myers, FL for Sale
$950,000 USD
Multi-Family - FOR SALE
1/5
null | 7.76% Cap Rate

1001 Polk St
Fort Myers, FL 33916


HIGHLIGHTS

  • Currently and Historically Near 100% Occupancy with $1516.67 Average Apartment Rent
  • Proven Value Add Renovation Plan; Renovated Units Experiencing Significant Rent Premiums
  • Significant Capital Improvements; 2/6 Fully Renovated Units, New HVAC’s (5/6 Units), and Water Heaters (2/6 Units)
  • All Tenant Paid Utilities

OVERVIEW

Hull Multifamily Advisors is pleased to present the exclusive offering of Polk Street Duplexes, a well-maintained six-unit multifamily asset located in Fort Myers, Florida. Built in 1973, the property consists of three single-story buildings featuring (6) 900 SF two-bedroom/one-bath units totaling approximately 5,400 rentable SF. The property is 100% occupied (at the time of listing) and boasts several amenities including individual entrances, ample parking, washer/dryer hookups and individually metered electric and water. Recent capital improvements include 5/6 new HVAC systems (2024–2025), 2 new water heaters, and 2 fully remodeled units, providing a strong foundation for continued ownership. Polk Street Duplexes is being offered as a stabilized, cash-flowing investment with significant value-add potential. After conducting an in depth rent comparable study (located in the OM) Current rents are estimated to be approximately $50–$100 below market, providing a clear opportunity to increase rents and enhance annual cash flow and property value. Current ownership has also implemented a successful renovation strategy, with 2 of the 6 units fully renovated and achieving approximately $50 in additional monthly rent. A new owner can continue renovating the remaining four units to capture similar rent premiums while simultaneously pushing rents toward market. With 100% occupancy, individually metered utilities, significant recent capital improvements, and multiple avenues for increasing revenue, Polk Street Duplexes presents an attractive opportunity for investors seeking immediate cash flow and long-term value creation. Please contact Hull Multifamily Advisors for additional information before this opportunity is gone.

FOR SALE DETAILS

PRICE

$950,000 USD

PRICE/SF

$176 USD /SF

# OF UNITS

6

PRICE/UNIT

$158,333

CAP RATE

7.76%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Polk Street Duplexes

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

08-44-25-P4-04201.015A

ASK ABOUT THIS PROPERTY

Nick HullHull Multifamily AdvisorsMore Info
239-329-7322

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Nick HullHull Multifamily AdvisorsMore Info
239-329-7322

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.