Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1983
Sq.Footage
N/A
Prospect & Wood is a stabilized, income-producing 46-unit multifamily property comprising 23 duplexes, each configured as 2 Bedroom / 1 Bath. Built in 1983 and maintained under long-term ownership, the asset offers a current annual gross rental projection of $565,800. At the offered price of $6,420,000, the investment delivers a 5.29% capitalization rate (based on a 40% expense ratio) and $139,565 per door — a competitive entry point in the Fort Myers multifamily market. The property presents compelling rent upside potential of approximately $516,672 in additional annual income should rents reach the Lee County SHIP 2-Bedroom Fair Market Rent (FMR) benchmark of $1,961/month. Applying the FMR with a 38% operating expense ratio and 5% vacancy, the pro forma cap rate recasts to 9.93%. Prospect & Wood is offered as a standalone asset, ideally positioned for yield-focused investors, regional multifamily operators, and 1031 exchange buyers seeking stabilized income with significant upside in the Greater Fort Myers submarket.
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
NO
-
Cooling
None
-
Fireplace YN
NO
-
Heating YN
NO
-
Heating
None
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Pool
No
-
Waterfront YN
NO
Area & Lot
-
Lot Size(acres)
3.66
-
Property Type
Commercial Sale
Price
-
Sales Price
$6,420,000
-
Tax Amount
$42,779
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
1
-
Senior Community YN
NO
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Location
County
Lee
Elementary School
Middle School
High School
Listing Courtesy of Jacob Mossholder , Premier Agent Network
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Agent | Realtor®
Julia McCabe
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