4 Plex New Construction Offered At $550,000 Per Door

Multi-Family for Sale
Catylist Listing ID: 30851498
Property Subtypes: Mid-Rise
Number of Units: 4 Units
Building Size (RSF): 5,516 SF
Sale Price: $2,200,000
Unit Price: $550,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 9/8/2023

Overview / Comments

4 Plex New Cost $550,000 Per Door
Four (4) Units New Construction, pad ready, stubbed, pre-planned, and permitted multifamily building in a resort style development. The total complex fully built will have 480 units with many natural amenities. Each cul-de-sac has six quadplexes. Each building has 4 units with each unit sized at 1,380 SF with 3 bedrooms and 2 baths. The building is approximately 5,516 SF. The proforma cap rate is 7.34 % based on daily vacation rentals of $275 per unit. The location is wonderful for Long Term, Seasonal, and Vacation Rentals. The need for housing on Pine Island and Southwest Florida is strong. Nestled on the southern portion of Pine Island, Saint James City offers residents all the charm of a small town paired with the laid-back vibe of an Old Florida beach community. Saint James City’s many nature preserves lend the community an overall unspoiled feel, hidden away from the stresses of modern-day living. The lush surroundings also provide plenty of opportunities for outdoor activities such as fishing, boating, kayaking, hiking, biking, bird-watching, and more. Bring your investment and capitalize on the opportunities while helping others at the same time. Site amenities to be built. Information viewed to be accurate but should be verified in due diligence. Ron Abboud is related to Sellers.

Will Accept Bit Coin, 1031 Exchange, and other creative financing vehicles.

Additional Details

Nearest MSA: Cape Coral-Fort Myers
County: Lee
Tax ID/APN: 04452200000101000
Zoning: RM2

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 1,021 9,110
Median Age: 67.16 51.22
Households: 567 4,013


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