229 FAIRWEATHER LN FORT MYERS BEACH, FL 33931

Features

• Lot Size: 4450 sq. ft.
• Total Units: 2
• Total Rooms: 8
• Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
• Stories: 100
• Roof Type: FLAT
• Heating: 4
• Exterior Walls: Stucco

Facts

• Year Built: 01/01/1965
• Property ID: 892691552
• MLS Number: 224051861
• Parcel Number: 19-46-24-W3-0110C.0200
• Property Type: Multi-family (5 or more units)
• County: LEE
• Legal Description: BEACH ESTATES BLK C PB 6 PG 68 LOT 20 LESS ELY 11 FT OR 227 PG 410
• Zoning: RM-2
• Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. Price Improvement! This quadraplex has a productive history as a vacation rental and also as a long term rental investment. It is located in a weekly rental zone enhancing the investment opportunities. It has 4 recently renovated one-bedroom, one-bath units each with a full kitchen and a living and dining area. Recent renovations include 4 totally new bathrooms, 2 new kitchens and a new roof in 2017. The roof was unaffected by Ian as it was built with additional anchors at every foot to keep the structure secure. The hot water heaters are new and the first floor units have new wiring and plumbing. Floors throughout the 4 units are attractive ceramic tile. There is one parking space assigned for each apartment. The building also offers a common washer and dryer and a peaceful patio in a tropical backyard setting. nThe location is ideal! It is a short leisurely walk to the beach. A beach access point is conveniently located approximately one block from the property. Access to Fort Myers Beach is open year-round from sunrise until past sunset. Guests will enjoy walking to Times Square and visiting a variety of shops and restaurants and a fishing pier. This property has a steady history of guests who have enjoyed fishing from the nearby pier or boating along the Gulf and stopping to dine at all the popular seafood restaurants. There are also parks in close proximity and many opportunities to travel to Sanibel and Captiva or take the jet powered catamarans from Fort Myers Beach to beautiful Key West. As a vacation rental the gross rent was $90,000 to $100,000 per year minus expenses for tourist tax and cleaning. The current income is from long term rentals with stable leases of $1600 monthly for each of three units and $1000 per month for the fourth tenant. There is $70,000 - $76,000 per year long term rental income. All 4 tenants would like to stay. If you are an investor looking for a steady income either as a long term or vacation rental asset this is the place for you. If you love the beach and all it has to offer, consider using one of the units for yourself and renting out the others for a steady and reliable profit.