3655, Hibiscus Avenue, Naples, Florida, 34104
SOLD! $379,990
Additional Details
- Important Details: --> Unit A & B rented @ $800/mo Month to month --> Permit #PRAR20220209418:AC unit replaced 2022 --> Land use: RMF-6 zoning
- Features: RARE, PRIME LOCATION for a Duplex in NAPLES!! This 4 bedroom, 2 bathroom features 1,450 of living sqft, a big yard, and sits on a large corner lot. Both units are two bedroom/one bath and approximately 725 sqft. Each unit has its own electric meter, a stove, refrigerator, microwave, living area, and bathroom. Being offered at an impossible to find price. Close to downtown Naples, shopping, and the beaches. In a two mile radius, there isn't one Multi-Family active UNDER $624,000. Don't miss out on this rare opportunity!
- Potential ARV: $525,000-$575,000
- Rehab Description: For a flip or to maximize rent, on the outside the roof appears to be in good condition, but the age is unknown. The ac unit was replaced in 2022. Modernize the interior by updating the flooring, kitchen, baths, and fixtures/trim. Apply interior/exterior fresh paint and deep clean. Finish off with some landscaping to boost curb appeal.
- Estimated Rehab: $60,000-$70,000
- Comparable Rent: $2100-$2200/mo
- Ideal Investment Strategy: Rental/Flip
- Construction: CBS
- Comp 1: 2147 Washington Ave, Naples, FL 34112 Duplex + cottage in the back (3-1/1s nonconforming) 1781 SQFT 1959 Build PENDING @ 699,000 (Rented for a total of $4350/mo) (Slightly bigger/One more unit/some updates)
- Comp 2: 1082/1084 San Remo AVE, Naples, FL 34104 Duplex (2-2/2s) 1694 SQFT 1972 Build SOLD @ $610,000 04/16/24 (8 days on the market) (Rented for a total of $4000/mo) (Slightly bigger/fully renovated)
- Comp 3: 987 San Remo AVE, Naples, FL 34104 Duplex (2-2/1s) 1690 SQFT 1973 Build SOLD @ $550,000 08/17/23 (Rented for a total of $1600/mo)-Under rented (Slightly bigger/dated)
- Rental Comp 1: 3577 Hibiscus AVE, Naples, FL 34104 2/1 900 SQFT 1978 Build Duplex unit rented at $2200/mo 05/08/24
- Rental Comp 2: 3367 Estey AVE Unit# 4, Naples, FL 34104 1/1 600 SQFT 1972 Build Duplex unit rented @ $2,000/mo 07/08/24
- Rental Comp 3: 3367 Estey AVE Unit# 1, Naples, FL 34104 1/1 600 SQFT 1972 Build Duplex unit rented @ $2,000/mo 06/01/24
- Hard Money: Pre-Approved by OPS Loans for up to 75% LTV – See OPS Loans Tab