Four-Unit Residential
For Sale
$639,000
Pending
1017 SE 39th TER, Cape Coral, FL 33904
Corner-lot residential income property with separate driveways and four individually configured apartments.
Property Size3,394 SF
Days on Market53
Property Features for 1017 SE 39th TER
General Information
Standard status
Pending
Size
3,394 SF
Property subtype
Quadruplex
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,075
Building Details
Building Size
3,394 SF
Year Built
1979
Listing Agency:
EXP Realty LLC
Listed By:
Joe Petno · License #772003642
(615) 566-4663
Source:
Kwelevate
Added: Sep 12
Changed: Oct 31
Last Checked: Nov 1 at 2:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty LLC
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Investment Insights
Based on property information with market context.
This quadplex contains four separate two-bedroom, two-bath units, each with tile flooring and ceiling fans. The property was built in 1979 and occupies a corner lot with two driveways. Unit A and Unit B include spacious kitchen and living-dining areas, screened lanais, and full bathrooms. Unit C has an updated kitchen equipped with a stove, microwave, and refrigerator, along with a living-dining area and two bedrooms. The fourth unit is also configured as a two-bedroom, two-bath residence.
Located at 1017 SE 39th Ter in Cape Coral, the property records a walk score of 28 and a bike score of 43, described as Car-Dependent and Somewhat Bikeable, respectively.
Located at 1017 SE 39th Ter in Cape Coral, the property records a walk score of 28 and a bike score of 43, described as Car-Dependent and Somewhat Bikeable, respectively.
Key Highlights
- Four separate 2‑bedroom, 2‑bath units
- Corner‑lot property with two driveways
- Tile flooring and ceiling fans in all four units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,924
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$898,480
$898.5K
Cap Rate 7%
$641,771
$641.8K
Cap Rate 9%
$499,156
$499.2K
Market Conditions
NOI Build-Up for 3,394 SF
Gross rent
$67.2K $19.80/SF
− Vacancy
−$3.0K −$0.89/SF
EGI
$64.2K $18.91/SF
− OpEx
−$19.3K −$5.67/SF
NOI
$44.9K $13.24/SF
Area
Cape Coral, FL
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$898,480
Cap Rate 7%
$641,771
Cap Rate 9%
$499,156
Alternative Uses
Best Use
Multifamily LT 5
$641.8K
$561.6K – $748.7K
NOI $44,924 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$594.7K
$520.4K – $693.9K
NOI $41,632 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$880.7K
$770.6K – $1.03M
NOI $61,646 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
728
Businesses Nearby
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Business Placement
Demographics for 33904, FL
32,029
Population
20,401
Households
1.6
Avg Household Size
56
Median Age
29%
College-Educated
95%
High-School Grad
9.7 sq mi
ZIP Area
3,302
Density / Sq Mi
$66,933
Median Household Income
$43,829
Median Earnings
$1,665
Median Rent
$347,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Corner-lot residential income property with separate driveways and four individually configured apartments.
Where is this quadplex located?
The property is located at 1017 SE 39th TER Cape Coral, FL.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Four separate 2‑bedroom, 2‑bath units; Corner‑lot property with two driveways; Tile flooring and ceiling fans in all four units
