11900-11971 Palm Bay Ct - Apartments FOR SALE


Bonita Springs, FL 34135
$9,500,000 USD
239-489-4066
11900-11971 Palm Bay Ct, Bonita Springs, FL for Sale
$9,500,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

11900-11971 Palm Bay Ct
Bonita Springs, FL 34135


HIGHLIGHTS

  • Stabilized asset with average rents of $2.20 PSF, supported by strong occupancy and consistent demand.
  • Roughly $1,000,000 in renovations completed in 2024 and 2025, enhancing both unit interiors and overall property appeal.
  • Strategically positioned between Estero, Fort Myers, and Naples, offering convenient access to major employment and lifestyle hubs.
  • Close proximity to premier amenities, including Downtown Bonita Springs, local beaches, and numerous shopping, dining, and entertainment destinations.

OVERVIEW

Lynx at Preserve is an opportunity to acquire a stabilized, income-producing multifamily asset in the Bonita Springs submarket of Southwest Florida. The property comprises 36 multifamily units across nine separate two- story concrete block construction buildings, built between 2006 and 2008. Each unit features a two-bedroom, two-bath layout averaging 940 square feet. The property has two access points from East Terry Street and Southern Pines Drive. 2024-2025 IMPROVEMENTS: The seller has completed approximately $1,000,000 in improvements since 2024, significantly enhancing both the interior and exterior condition of the property. Key upgrades include: • New kitchen cabinets and countertops • New appliances and appliance installations • New roofs • Drywall, baseboard, and paint updates • New flooring and bathroom cabinets • Lighting and fan installations throughout • Updated plumbing fixtures and AC units * Detailed list of improvements available upon request. INCOME HIGHLIGHTS: • Current Occupancy: 89% • Average Rents: $2.20 per square foot • 2024-2025 Upgrades: Roughly $1,000,000 in renovations • Roof Ages: All new 2024 * Inquire for full list of income and expenses

FOR SALE DETAILS

PRICE

$9,500,000 USD

PRICE/SF

$281 USD /SF

# OF UNITS

36

PRICE/UNIT

$263,889

CAP RATE

Request Cap Rate

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lynx At Preserve

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2006

PARKING SPACES

-

LAND DETAILS

LAND ACRES

4.81 AC

LAND SF

209,717 SF

ZONING

RPD

APN/PARCEL ID

25-47-25-B3-00004.0060

ASK ABOUT THIS PROPERTY

Justin ThibautLSI Companies, Inc.More Info
239-489-4066

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Justin ThibautLSI Companies, Inc.More Info
239-489-4066

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