937 SE 23rd Pl - Apartments FOR SALE


Cape Coral, FL 33990- Hancock
$825,000 USD
239-489-4066
937 SE 23rd Pl, Cape Coral, FL for Sale
$825,000 USD
Apartments - FOR SALE
1/9
null | Request Cap Rate

937 SE 23rd Pl
Cape Coral, FL 33990
Hancock


HIGHLIGHTS

  • Fully occupied five-plex
  • AGI of $94,200 with average monthly rents of $1,570/unit
  • Long term tenants on staggered 12-month agreements
  • Minimal landlord expenses — all units individually metered with tenants paying utilities
  • Major recent capital improvements completed including new roof, all new A/C units, impact windows, and more
  • 4,957± square feet in total with an average unit size of 991± square feet

OVERVIEW

LSI Companies is pleased to present this fully occupied five-plex, offering investors a turnkey, low-maintenance income stream in one of Southwest Florida’s fastest growing rental markets. The property is comprised of five 2-bedroom/1-bathroom units with an annual gross income of $94,200. Ownership has recently invested significantly in the asset, including a new roof, hurricane-resistant impact windows throughout, fully renovated bathrooms, full exterior paint, parking lot reseal and stripe, and replacement of all A/C units, substantially reducing near-term capital exposure for a new buyer. All units offer a screened-in lanai, individual laundry rooms, and low maintenance tile or LVP floors throughout. With 100% occupancy, low operating costs, and long-term tenants with 12-month lease structures, the property presents a stabilized, hands-off opportunity ideally suited to investors seeking steady cash flow with limited deferred maintenance. KEY PROPERTY HIGHLIGHTS: • Fully occupied five-plex • AGI of $94,200 with average monthly rents of $1,570/unit • Long term tenants on staggered 12-month agreements • Minimal landlord expenses — all units individually metered with tenants paying utilities • Major recent capital improvements completed including new roof, all new A/C units, impact windows, and more • 4,957± square feet in total with an average unit size of 991± square feet • Low-maintenance, tenant-friendly design • Located in a established neighborhood near major commercial hubs • No history of flood damage LOCATION HIGHLIGHTS: ?• 0.1± miles to Viscaya Parkway • 1.1± miles to Del Prado Boulevard • 3.3± miles to Pine Island Road • 3.9± miles to US-41 • 5.7± miles to Downtown Fort Myers • 6.1± miles to Downtown Cape Coral • 10.6± miles to I-75 • 21.5± miles to SWFL International Airport (RSW)

FOR SALE DETAILS

PRICE

$825,000 USD

PRICE/SF

$166 USD /SF

# OF UNITS

5

PRICE/UNIT

$165,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

937 SE 23rd Place

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.39 AC

LAND SF

16,988 SF

ZONING

RML

APN/PARCEL ID

20-44-24-C2-01399.0030

ASK ABOUT THIS PROPERTY

Alec BurkeLSI Companies, Inc.More Info
239-489-4066

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Alec BurkeLSI Companies, Inc.More Info
239-489-4066

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