541 Prospect Ave Fort Myers, FL 33905

Building Details

Year Built

1983

Listing office Premier Agent Network, Inc. j***@gmail.com Show Phone

Listing date Mar 31, 2026

Source Elliman

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Investment Insights

Based on property information with market context.

This stabilized, income-producing multifamily property features 46 units, consisting of 23 duplexes. Each unit is configured with 2 bedrooms and 1 bath. Constructed in 1983 and maintained under long-term ownership, the property offers a current annual gross rental projection of $565,800. The investment delivers a 5.29% capitalization rate (based on a 40% expense ratio). The property presents compelling rent upside potential of approximately $516,672 in additional annual income should rents reach the Lee County SHIP 2-Bedroom Fair Market Rent (FMR) benchmark of $1,961/month. Applying the FMR with a 38% operating expense ratio and 5% vacancy, the pro forma cap rate recasts to 9.93%. This property is ideally positioned for yield-focused investors, regional multifamily operators, and 1031 exchange buyers seeking stabilized income with significant upside in the Greater Fort Myers submarket. The bike score is 47, indicating it is somewhat bikeable, and the walk score is 39, indicating car-dependent.

Key Highlights

• Stabilized, income‑producing 46‑unit multifamily property.
• Significant rent upside potential of approximately $516,672 in additional annual income.
• Competitive entry point at $139,565 per door in the Fort Myers multifamily market.

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FAQs

What type of property is this?

Duplex - Income-producing 46-unit multifamily property with significant upside potential.

Where is this duplex located?

The property is located at 541 Prospect Ave Fort Myers, FL.

What is the asking price?

The asking price for this property is $6,420,000.

What are key features of this property?

This property features: Stabilized, income‑producing 46‑unit multifamily property.; Significant rent upside potential of approximately $516,672 in additional annual income.; Competitive entry point at $139,565 per door in the Fort Myers multifamily market.