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$1,100,000
288 Beds ⋅ 144 Baths ⋅ A4619028 MLS ⋅ 2148 BLDG.
Make Money Now: High-Yield, Under-Market Income-Producing Apartment Building Unlock the potential of this 12-unit apartment building, spanning 10,954 sq ft, with each spacious unit offering 913 sq ft of living space. Currently 100% rented M/M at substantially under-market rates, this property presents a rare opportunity for savvy investors looking to maximize their ROI. Management has done little to make this cash cow payoff other than fully rented, They have made since 2021/21 to date replaced 1/2 the windows, 3/4 of the a/c units and it has a 1 yr old roof, outside painted. It is a solid, functioning, occupied, income producer which is highly under performing due to mgmt and updating mainly interior and some exterior. This may be the cheapest updating investment you will find. Going market rent (1B-1B) $1200-$1400-(2B-1B)$1600- $1800 p/m Key Features: Fixer-Upper in Great Condition: Well-maintained structure, needing only minor updates in units and exterior to elevate to market standards. High Cap Rate Potential: Projected cap rate of 9-10%, with the ability to nearly double if not double current income under new management. Significant Value Increase: Post-renovation, the property value could soar to between $2.5 and $3 million, aligning with its replacement value. Prime Location: Situated close to waterways, hospitals, shopping centers, public transportation, parks, and sports stadiums Minutes to Fort myers beach and rt 75 and FW airport. Nestled in a residential community on the edge of urban and commercial establishments, attracting Valued tenants. Investment Highlights: Under-Market Rental Rates: Significant upside potential by bringing rents to market levels (6 Figure est). Cost-Effective Upgrades: Investment in updates can and will drastically increase revenue and property value. Land value is $240K bring the asking price of the building to $1.11M Strong Rental Demand: Location and unit size make this property a magnet for tenants seeking quality housing. This diamond in the rough is a must-have for investors seeking high returns and substantial property appreciation. Don’t miss out on this rare opportunity to add a prime income-producing asset to your portfolio. This Investment easy accomodate ARV income; The 1% rule of return and 50% expense rule Contact us today to schedule a viewing and explore the immense potential of this investment property.

2148 Dora Street, Fort Myers

Listing courtesy of KELLER WILLIAMS ON THE WATER S. 941-803-7522

Selling Office: KELLER WILLIAMS ON THE WATER S.

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program (BR Program) of M.L.S. of Naples, Inc. Properties listed with brokerage firms other than this company are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available through the BR Program. The information provided is for consumers’ personal, non-commercial use and may not be used for any other purpose.