1940-1942 Passaic Ave - Apartments FOR SALE


Fort Myers, FL 33901- Broadway Circle
$1,999,900 USD
727-688-8744
1940-1942 Passaic Ave, Fort Myers, FL for Sale
$1,999,900 USD
Apartments - FOR SALE
1/12
null | 7.78% Cap Rate

1940-1942 Passaic Ave
Fort Myers, FL 33901
Broadway Circle


HIGHLIGHTS

  • Block Building
  • Metal Roof
  • Large Lot with Parking

OVERVIEW

Passaic Apartments presents an exceptional opportunity to acquire a 13-unit multifamily community in the heart of Fort Myers, Florida. Ideally located minutes from Downtown Fort Myers, Lee Health, US-41, Colonial Boulevard, shopping, dining, and major employment centers, the property benefits from strong rental demand and long-term market fundamentals. The concrete block apartment community has been professionally managed and features renovated interiors, updated kitchens and baths, ongoing capital improvements, and a stable tenant base. The property generated approximately $154,544 in gross operating income and $109,771 in T-12 NOI, providing immediate cash flow with additional upside through continued rental growth

FOR SALE DETAILS

PRICE

$1,999,900 USD

PRICE/SF

$283 USD /SF

# OF UNITS

13

PRICE/UNIT

$153,838

CAP RATE

7.78%

% LEASED

60%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1953

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.49 AC

LAND SF

21,344 SF

ZONING

A-2

APN/PARCEL ID

26-44-24-P3-0140C.0010

ASK ABOUT THIS PROPERTY

Jimmy BrylinkeBrylinke Noseworthy Group Realty ExpertsMore Info
727-688-8744

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Jimmy BrylinkeBrylinke Noseworthy Group Realty ExpertsMore Info
727-688-8744

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