1321 SE 8th Ave - Apartments FOR SALE


Cape Coral, FL 33990
$1,250,000 USD
954-245-3584
1321 SE 8th Ave, Cape Coral, FL for Sale
$1,250,000 USD
Apartments - FOR SALE
1/9
null | 6.85% Cap Rate

1321 SE 8th Ave
Cape Coral, FL 33990


HIGHLIGHTS

  • Rare Opportunity to Acquire a 2004 Construction Apartment Building in the Heart of Cape Coral
  • Well-Stabilized and Cash-Flowing Property
  • Both Buildings were Constructed with Concrete Block and Central Air Conditioning
  • All Units Comprise of Large 2 Bedroom / 2 Bathroom Floorplans

OVERVIEW

Marcus & Millichap, as the exclusive listing agent, is pleased to offer for sale The Flats at Cape Coral (the "Property"), a 6-unit multifamily offering consisting of two properties, located within Cape Coral, Florida. The Flats at Cape Coral, located at 1321 SE 8th Avenue, Cape Coral, FL 33990, was built in 2004 with CBS construction. It consists of two one-story buildings on a 0.38 acre-lot, totaling 6,098 square feet of rentable living space. The property is comprised of (6) large two-bedroom / two-bathroom units, and each unit includes it's own hurricane shutters. The Flats at Cape Coral is located in Cape Coral, often referred to as "The Cape," a family-oriented city known as the "Waterfront Wonderland" for its 400 miles of picturesque canals. Nestled along the scenic Gulf Coast, the property benefits from its location, being less than one mile from the Cape Coral Police Department and Cape Coral Fire Station. Nearby points of interest include Sun Splash Family Waterpark, Tarpon Point Marina, Cape Coral Historical Museum, and Gulf Coast Town Center. Additionally, the Flats at Cape Coral is conveniently close to several major employers in the Lee County area, Including Lee Health Cape Coral Hospital, a prominent healthcare provider, Publix Super Markets, a significant retail employer, and the Lee County School district. The Flats at Cape Coral presents investors with a unique opportunity to increase current rents to market rates in a stabilized, cash-flowing property. Its location within walking distance of the United States Post Office, Cape Coral Police Department, and Cape Coral Fire Station provides tenants with peace of mind.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$206 USD /SF

# OF UNITS

6

PRICE/UNIT

$208,333

CAP RATE

6.85%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Flats At Cape Coral

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,553 SF

ZONING

Commercial

APN/PARCEL ID

24-44-23-C3-00808.0550

ASK ABOUT THIS PROPERTY

Daniel CunninghamMarcus & MillichapMore Info
954-245-3584

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

Daniel CunninghamMarcus & MillichapMore Info
954-245-3584

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