1126 SE 8th St, Cape Coral, FL 33990
SOLD! $1,199,990 - Multifamily
Additional Details
- Ideal Investment Strategy: Rental/Resale
- Potential ARV: $1,400,000-$1,600,000
- Estimated Rehab: $10,000-$90,000
- Comparable Rent: $11,000-$12,000
- Occupancy: Call your Agent
- Important Details: --> Buyer agrees to assume current tenants with a cumulative rent of $7,800/mo. All tenants are on a month to month basis. Security deposits in place. -->Being offered at $200k per door / $179 per sqft --> Seven separate utility meters (one for the pool heater)
- Comp 1: 1631 SW 1st Ave, Cape Coral, FL 33991 - 12/12 5,794 sqft INVESTOR SALE $1,499,625 on 08/24/2022 (2020 Build 6-Plex, $249k per door / $258 per sqft, updated, no garages, no pool, and .46 acre lot)
- Comp 2: 1910 Santa Barbara Blvd 1-6, Cape Coral, FL 33991 - 12/12 5,214 sqft INVESTOR SALE $1,200,000 on 05/23/2023 (2007 build 6-Plex, $200k per door / $230 per sqft, basic rental condition, no garages, no pool, and .34 acre lot & on 6 lane road)
- Comp 3: 429 SW 47th Ter, Cape Coral, FL 33914 - 8/8 3,736 sqft SOLD $1,485,000 on 01/13/2023 (1984 Quadplex, $371k per door / $397 per sqft, clean/dated rental condition, no garages, no pool, on the water, and .23 acre lot)
- Comp 4: 313 Cape Coral Pkwy E #1, Cape Coral, FL 33904 - 10/10 6,184 sqft INVESTOR SALE $2,057,500 on 08/03/2022 (1973 build 6-Plex, $342k per door / $332 per sqft, rental condition, no garages, no pool, and .34 acre lot & on 6 lane road)
- Rehab Description: Dual-threat rental options! Keep the existing tenants in place and upkeep the maintenance on the building. Alternatively, do cosmetic interior rental condition updates to bring in max market rents to each unit for higher returns. Roof is in newer & great condition with permits from 2022. Central A/C is in good working order for each unit and there is permits in 2021. Water heaters are all in newer condition. Optionally, put this right on the market where there is extremely low inventory for this type of property.
- Features: FULLY RENTED 6-PLEX MULTIFAMILY in Cape Coral!!! This 14 bedroom, 12 bathroom multifamily building features 6,700 living sqft, two 3 bedroom / 2 bathroom units, and four 2 bedroom / 2 bathroom units, has an in ground pool, and sits on a .37 acre lot. Located in a great area close to amenities in Cape Coral and short drive across either bridge to Downtown Fort Myers. Being offered fully rented for immediate cash flow or alternatively update the units further and get maximum market rents! This is a RARE deal you absolutely don't want to miss out on with HIGH UPSIDE!
- Hard Money: Pre-Approved by PropertyForce Funding for up to 60% LTV – See PropertyForce Funding Tab