Waterfront Multifamily Property with Development Potential

4520 SE 5th Pl, Cape Coral, FL 33904

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For Sale

$1,900,000

Waterfront 3-unit property with development potential in downtown Cape Coral.

Type:Investment

Property size:

3,440 SF

Lot size:

0.43 Acres

Price / SF:

$552/SF

HighLights

Waterfront property with 130' seawall and dock on a Gulf‑access canal.
Three‑unit multifamily property with future development potential for up to four additional units.
Located in the heart of downtown Cape Coral, with walkable access to restaurants and shopping.
Two of the three units are currently vacant, offering immediate rental flexibility.
Spacious 1,100 SF units.
Strong population growth and rental demand in Cape Coral.

We can help!

Listing Contact

Andres G Sanchez

Learn more

For Sale

$1,900,000

Waterfront 3-unit property with development potential in downtown Cape Coral.

Type:Investment

Property size:

3,440 SF

Lot size:

0.43 Acres

Price / SF:

$552/SF

Added:: Apr 24, 2026
Days on Market:: 55
Last Refresh:: Apr 24 at 3:22 pm

Property Features for 4520 SE 5th Pl

General Information

Standard status: Active
Size: 3,440 SF
Lot size: 0.43 Acres
Property subtype: Investment

Building Details

Year Built: 1979

We can help!

Listing Contact

Andres G Sanchez

Listing agent Andres G Sanchez

Listing office Local Real Estate LLC

Listing date Apr 24, 2026

Source Elliman

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 Local Real Estate LLC

HighLights

Waterfront property with 130' seawall and dock on a Gulf‑access canal.
Three‑unit multifamily property with future development potential for up to four additional units.
Located in the heart of downtown Cape Coral, with walkable access to restaurants and shopping.
Two of the three units are currently vacant, offering immediate rental flexibility.
Spacious 1,100 SF units.
Strong population growth and rental demand in Cape Coral.

Overview

This waterfront multifamily property presents a unique opportunity in the heart of downtown Cape Coral. The property includes a 3-unit building totaling 3,440 square feet on a 0.43-acre lot. Each unit offers a spacious 1,100 square feet. The property features ample parking and a 130-foot seawall with a dock on a 200-foot wide Gulf-access canal. Two of the units are currently vacant, providing flexibility for various rental strategies, including longer-term, seasonal, or short-term rentals. The site also offers the potential to add up to four additional units. The location provides walkable access to restaurants and shopping. Supported by Cape Coral's strong population growth and rental demand, this asset offers both stable cash flow and value-add upside. The property has a bike score of 49, indicating it is somewhat bikeable, and a walk score of 46, indicating it is car-dependent.

Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Location Insight

Map
Local Demand

City: Cape Coral
County: Lee
State: Florida
Longitude: -81.9616264
Latitude: 26.5696114

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For sale
Triplexes
FL
Cape Coral
33904
4520 SE 5th Pl

What type of property is this?

Triplex - Waterfront 3-unit property with development potential in downtown Cape Coral.

Where is this triplex located?

The property is located at 4520 SE 5th Pl Cape Coral, FL.

What is the asking price?

The asking price for this property is $1,900,000.

What are key features of this property?

This property features: Waterfront property with 130' seawall and dock on a Gulf‑access canal.; Three‑unit multifamily property with future development potential for up to four additional units.; Located in the heart of downtown Cape Coral, with walkable access to restaurants and shopping.