4110 Castilla Cir Fort Myers, FL 33916

Located in Fort Myers, Florida, Villas at Venezia presents an investment opportunity to acquire a stabilized, cash-flowing multifamily portfolio. Constructed in 2006, this well-maintained complex consists of 13 units: six 3-bedroom, 2-bath residences and seven 2-bedroom, 2-bath condominium-style residences, each averaging just over 1,000 square feet. The property maintains 96% occupancy with a multi-year track record of minimal vacancy. Each unit has its own Property Identification Number (PID), providing investors the flexibility to sell units individually or in bundled packages. The property generates an annual gross income of roughly $201,000 (2024 actuals), with a pro forma potential of about $215,000. Operating expenses are approximately $55,000 annually (28% of Effective Gross Income), resulting in an in-place Net Operating Income (NOI) of $139,000 and a pro forma NOI near $155,000. The investment delivers a current cap rate of approximately 6.5% and a pro forma cap rate approaching 7.2%. Ownership stability is enhanced by SWFL CAM, Inc., which recently assumed association management, alongside a local professional property manager who oversees day-to-day operations. Located minutes from downtown Fort Myers, major employers, and key retail corridors, Villas at Venezia benefits from exceptional accessibility and strong regional fundamentals. Fort Myers continues to experience robust population and job growth, with 50,000+ new residents and 24,000+ new households projected over the next five years.