Two-Unit Stilt
For Sale
$439,000
1480/1482 Lura AVE, Fort Myers, FL 33916
Each residence has its own electric and water meter, with city-sewer service to the property.
Property Size1,760 SF
Price / SF$249.43
Days on Market90
Property Features for 1480/1482 Lura AVE
General Information
Standard status
Active
Size
1,760 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Individually Metered Utilities
electricity, water
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,413
Amenities
shared deck
separate laundry rooms
Building Details
Building Size
1,760 SF
Year Built
1981
Buildings
2
Listing Agency:
Side
Listed By:
MDM Naples Real Estate
(239) 776-4483
Source:
Mdmnaplesrealestate
Added: Aug 3
Changed: Oct 29
Last Checked: Oct 29 at 2:41PM
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 Side
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Investment Insights
Based on property information with market context.
Built in 1981, the duplex comprises two detached stilt residences, each measuring 880 square feet and configured with 2 bedrooms and 1 bathroom. The homes share a deck, and each has a laundry area beneath the living space. Separate electric and water meters serve the units, with city-sewer service to the property.
Improvements include replacement of the stilt beams and impact windows and siding in 2020, one new HVAC system in 2021, and a permitted reroof in 2022 followed by additional storm-related roof work in 2023. The front unit received a bathroom update in 2021. More recent work includes vinyl plank flooring, a kitchen renovation in 2026, and reconfigured storage and laundry areas.
Improvements include replacement of the stilt beams and impact windows and siding in 2020, one new HVAC system in 2021, and a permitted reroof in 2022 followed by additional storm-related roof work in 2023. The front unit received a bathroom update in 2021. More recent work includes vinyl plank flooring, a kitchen renovation in 2026, and reconfigured storage and laundry areas.
Key Highlights
- Two detached residences of 880 square feet each; 1,760 square feet total
- Both units have 2 bedrooms and 1 bathroom
- Separate electric and water meters; city‑sewer service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,296
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$465,920
$465.9K
Cap Rate 7%
$332,800
$332.8K
Cap Rate 9%
$258,844
$258.8K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$34.8K $19.80/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$33.3K $18.91/SF
− OpEx
−$10.0K −$5.67/SF
NOI
$23.3K $13.24/SF
Area
Lee County, 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%
$465,920
Cap Rate 7%
$332,800
Cap Rate 9%
$258,844
Alternative Uses
Best Use
Multifamily LT 5
$332.8K
$291.2K – $388.3K
NOI $23,296 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$308.4K
$269.9K – $359.8K
NOI $21,589 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$553.9K
$484.7K – $646.3K
NOI $38,776 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
501
Businesses Nearby
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Business Placement
Demographics for 33916, FL
25,940
Population
12,480
Households
2.1
Avg Household Size
34
Median Age
21%
College-Educated
81%
High-School Grad
10.3 sq mi
ZIP Area
2,518
Density / Sq Mi
$49,353
Median Household Income
$32,770
Median Earnings
$1,363
Median Rent
$242,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own electric and water meter, with city-sewer service to the property.
Where is this duplex located?
The property is located at 1480/1482 Lura AVE Fort Myers, FL.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Two detached residences of 880 square feet each; 1,760 square feet total; Both units have 2 bedrooms and 1 bathroom; Separate electric and water meters; city‑sewer service
