418 E Virginia Ave - Apartments FOR SALE


Punta Gorda, FL 33950
$875,000 USD
239-329-7322
418 E Virginia Ave, Punta Gorda, FL for Sale
$875,000 USD
Apartments - FOR SALE
1/6
null | 6.03% Cap Rate

418 E Virginia Ave
Punta Gorda, FL 33950


HIGHLIGHTS

  • Historically Near 100% Occupancy with $986.88 Average Apartment Rent
  • Below Market Rent; Similar Competing Apartments are achieving $150-$250 higher rents
  • Significant Capital Improvements; New Electric and Plumbing, New HVAC’s (3/4 Units), and Significant Interior Upgrades
  • Tenant Paid Electric

OVERVIEW

*CONFIDENTIAL SALE. DO NOT DISTURB TENANTS OR STAFF* Hull Multifamily Advisors is pleased to present the exclusive offering of Virginia Avenue Duplexes in Punta Gorda, Florida. Built in 1969, this well-maintained 8-unit multifamily asset consists of four duplex-style buildings featuring a unit mix of (4) 720 SF two-bedroom/one-bath units and (4) 460 SF one-bedroom/one-bath units. The property has undergone significant recent capital improvements, including new plumbing throughout, updated electrical panels and wiring in 3 of the 4 buildings, and new HVAC systems in 3 of the 4 buildings, helping minimize near-term capital expenditure needs for future ownership. Residents benefit from desirable amenities such as individual unit entrances, ample on-site parking, and a low-density residential layout that enhances tenant appeal. Current ownership pays for trash, water (4/8 units), and electricity (2/8 units), while tenants are responsible the remaining utility expenses. Virginia Avenue Duplexes is being offered as a stabilized, cash-flowing investment with substantial upside potential. Most notably, the property features significantly below-market rents while historically maintaining occupancy levels near 100%. Based on an in-depth rent comparable analysis (located on page 17 on the OM), current rental rates are estimated to be approximately $150–$250 below competing properties in the market. This creates a clear opportunity for investors to increase rents toward market levels, driving additional cash flow and meaningful value appreciation. With its attractive Punta Gorda location, proven occupancy history, and strong value-add potential, this offering represents a compelling investment opportunity. Please contact Hull Multifamily Advisors for additional information before this opportunity is gone.

FOR SALE DETAILS

PRICE

$875,000 USD

PRICE/SF

$185 USD /SF

# OF UNITS

8

PRICE/UNIT

$109,375

CAP RATE

6.03%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Virginia Avenue Duplexes

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1969

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,881 SF

ZONING

NC

APN/PARCEL ID

412306413007

ASK ABOUT THIS PROPERTY

Nick HullHull Multifamily AdvisorsMore Info
239-329-7322

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

Nick HullHull Multifamily AdvisorsMore Info
239-329-7322

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