Lakefront Condo with
2885 Citrus Lake Drive N-202 Naples, FL 34109
2885 Citrus Lake Drive N-202, Naples, FL, 34109
$335,000
Pending
For Sale
$335,000
Pending
Turnkey, furnished 2-bedroom condo with lake views and many amenities.
Property Size1,249 SF
Days on Market643
Property Features for 2885 Citrus Lake Drive N-202
General Information
- Standard status
- Pending
- Size
- 1,249 SF
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1992
Listing agency
Downing Frye Realty Inc.
(239) 287-6441
Listed by
David Roy, PA · License #249514723
(239) 287-6441
Source
Exitrealty
Added: Oct 17, 2024 Updated: Jul 10 at 1:05PM Checked: Jul 21 at 6:23AM
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 Downing Frye Realty Inc.
Investment Insights
Based on property information with market context.
This turnkey, furnished 2-bedroom, 2-bath condo is located in Lakeside, a gated community featuring an elevator building. The condo has been upgraded with an open floor plan, manual hurricane shutters, a huge walk-in closet, stainless steel appliances, a new stove, updated lighting and fans, and wood and tile floors throughout. There are no carpets, and a screen door allows for cross breezes. Lakeside is a gated community with a 40-acre lake and offers amenities including two swimming pools, a spa, and a two-story Old Florida clubhouse complete with a sauna, weight room, shower, kitchen facilities, a library, and game rooms. The community also features five clay tennis courts, a pickleball court, a tot playground, shuffleboard, bocce and basketball courts. A 1.5-mile walking path meanders through an award-winning lush landscape including two lighted lake fountains. The property is conveniently located, being 5 minutes from Mercato, 10 minutes from Vanderbilt Beach, and 20 minutes from downtown Naples. The property size is 1249 square feet.
Key Highlights
- Lakefront property with direct lake access.
- Turnkey/Furnished, ready for immediate occupancy.
- Updated 2 Bedroom, 2 Bath condo with open floor plan and modern upgrades including stainless steel appliances, updated lighting & fans.
Local Financial Insights For Apartment 5plus
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 | $32.5k | $26.04 |
| − Vacancy | −$1.7k | −$1.35 |
| EGI | $30.8k | $24.69 |
| − OpEx | −$13.9k | −$11.11 |
| NOI | $17.0k | $13.58 |
1,249 SF · lease $26.04/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$242.3K
$212.0K – $282.6K
NOI $16,958 @ 7.0% cap · market cap 5.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$501.3K
$438.6K – $584.8K
NOI $35,090 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Residential income properties
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - Turnkey, furnished 2-bedroom condo with lake views and many amenities.
Where is this residential income property located?
The property is located at 2885 Citrus Lake Drive N-202 Naples, FL.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Lakefront property with direct lake access.; Turnkey/Furnished, ready for immediate occupancy.; Updated 2 Bedroom, 2 Bath condo with open floor plan and modern upgrades including stainless steel appliances, updated lighting & fans.
