SOUGHT AFTER CLASS “C” 161 unit apartment complex with value add of making it into a 400 unit complex with LIVE LOCAL ACT OVER 6 acres Minutes from Downtown 85% Occupancy 13 of 14 roofs new 40% renovated units Owner purchased existing buildings * zoning analysis: 1. The current zoning is RM-12 and the future land use is Traditional Community. The parcel size is around 6.8 acres, so under RM-12 it allows 12 dwelling units per acre, therefore 81.5 dwelling units are allowed on the parcel. As it applies to multifamily dwelling units, under the City of Fort Myers code, a studio unit or a one-bedroom unit with 750 square feet of less counts as 0.5 dwelling units, a two-bedroom unit with 1,200 square feet or less counts as 0.75 dwelling units, and all other unit types would count as 1 dwelling unit. Rezoning Alternatives 1. If you went rezone the parcel to Planned Unit Development, you would be eligible to get bonus density of up to 35 dwelling units per acre under traditional community. 2. If you rezone the property to neighborhood commercial, you would then be able to go through the Live Local process and be eligible for up to 70 dwelling units per acre. An exceptional value-add opportunity with even more strategic potential.