Leased Duplex Income
1520/1522 Gretchen Avenue S Lehigh Acres, FL 33973
For Sale
$504,900
MULTI_FAMILY - Ranch - Lehigh Acres, FL
Property Size3,488 SF
Lot Size0.29 Acres
Price / SF$144.75
Days on Market11
Property Features for 1520/1522 Gretchen Avenue S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Property condition
- Under Construction
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bathroom 1, Bathroom 4, Bedroom 2
- Pets allowed
- Yes
- Appliances
- WaterSoftener
- Standard status
- Active
- APN
- 04-45-26-L2-05009.0060
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LEHIGH ESTATES UNIT 5 BLK 9 PB 15 PG 85 LOT 6
- Tax Annual Amount
- 1536
Utilities
- Sewer type
- Septic Tank
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric, Ceiling Fan(s)
- Water source
- Well
Building Details
- Year built
- 2025
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Tile
- Building materials
- Block, Concrete, Stucco
- Roof type
- Shingle
- Architectural style
- Ranch
Listing Agency:
Marzucco Real Estate
(239) 269-1584
Listed By:
Christian Azpeitia-Gomez · License #258035647
(239) 357-5833
Added: Jul 14
Changed: Jul 18
Last Checked: Jul 24 at 10:06PM
MLS# 2026030246
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This newly constructed duplex includes 2 units, with both sides currently leased through October 1, 2026. Each unit offers 3 bedrooms and 2 full bathrooms in a bright, open-concept layout. The property is identified as a ranch-style duplex and sits on a 0.29-acre lot.
The duplex is located at 1520/1522 Gretchen Avenue S in Lehigh Acres, Florida (Lee County), 33973. The listing remarks indicate a convenient setting near schools, parks, and shopping centers.
For purchasers seeking established rental income, the current in-place leases provide immediate revenue while retaining flexibility to own both sides of the duplex.
The duplex is located at 1520/1522 Gretchen Avenue S in Lehigh Acres, Florida (Lee County), 33973. The listing remarks indicate a convenient setting near schools, parks, and shopping centers.
For purchasers seeking established rental income, the current in-place leases provide immediate revenue while retaining flexibility to own both sides of the duplex.
Key Highlights
- Brand‑new 2025 duplex (under construction) with Ranch architectural style
- Each unit offers 1,744 SF with 3 bedrooms and 2 full bathrooms
- Both units are leased at $2,000/month through October 1, 2026
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.1k | $19.80 |
| − Vacancy | −$3.1k | −$0.89 |
| EGI | $66.0k | $18.91 |
| − OpEx | −$19.8k | −$5.67 |
| NOI | $46.2k | $13.24 |
3,488 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$659.5K
$577.1K – $769.5K
NOI $46,168 @ 7.0% cap · market cap 9.14%
Second Best
Apartment 5plus
$611.2K
$534.8K – $713.1K
NOI $42,785 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$1.10M
$960.6K – $1.28M
NOI $76,848 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with both units leased through October 1, 2026, offering 3-bedroom, 2-bath layouts on each side.
Where is this duplex located?
The property is located at 1520/1522 Gretchen Avenue S Lehigh Acres, FL.
What is the asking price?
The asking price for this property is $504,900.
What are key features of this property?
This property features: Brand‑new 2025 duplex (under construction) with Ranch architectural style; Each unit offers 1,744 SF with 3 bedrooms and 2 full bathrooms; Both units are leased at $2,000/month through October 1, 2026
