Duplex with Three-Bedroom
For Sale
$415,000
1904/1906 French St, Fort Myers, FL 33916
RM-12 zoning and a fenced corner parcel distinguish this Fort Myers multifamily property.
Property Size2,340 SF
Price / SF$177.35
Days on Market70
Property Features for 1904/1906 French St
General Information
Standard status
Active
Size
2,340 SF
Property subtype
Residential Income
Zoning
RM-12
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,828
Building Details
Building Size
2,340 SF
Year Built
2023
Buildings
1
Units
2
Construction
block
Listing Agency:
Fast Action Realty Inc
(239) 431-5522
Listed By:
Yanely Fernandez · License #3072637
(239) 253-2286
Source:
Fastactionrealtyinc
Added: Aug 18
Changed: Oct 25
Last Checked: Oct 23 at 4:57PM
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 Fast Action Realty Inc
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Investment Insights
Based on property information with market context.
Built in 2023, this Fort Myers duplex contains two residential units with 2,340 square feet of combined heated and cooled living area. Each unit has three bedrooms and two bathrooms. The building features block construction with stucco finishes, and an additional A/C unit was installed in 2023.
The property occupies a fenced corner lot in the Fairdale subdivision and is zoned RM-12. Downtown Fort Myers, shopping, dining, and major roadways are accessible from the location.
The property occupies a fenced corner lot in the Fairdale subdivision and is zoned RM-12. Downtown Fort Myers, shopping, dining, and major roadways are accessible from the location.
Key Highlights
- Two units, each with 3 bedrooms and 2 bathrooms
- 2,340 square feet of combined heated and cooled living area
- Built in 2023 with block construction and stucco exterior
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,973
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$619,460
$619.5K
Cap Rate 7%
$442,471
$442.5K
Cap Rate 9%
$344,144
$344.1K
Market Conditions
NOI Build-Up for 2,340 SF
Gross rent
$46.3K $19.80/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$44.2K $18.91/SF
− OpEx
−$13.3K −$5.67/SF
NOI
$31.0K $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%
$619,460
Cap Rate 7%
$442,471
Cap Rate 9%
$344,144
Alternative Uses
Best Use
Multifamily LT 5
$442.5K
$387.2K – $516.2K
NOI $30,973 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$410.0K
$358.8K – $478.4K
NOI $28,703 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$736.5K
$644.4K – $859.3K
NOI $51,555 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
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 - RM-12 zoning and a fenced corner parcel distinguish this Fort Myers multifamily property.
Where is this duplex located?
The property is located at 1904/1906 French St Fort Myers, FL.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 2 bathrooms; 2,340 square feet of combined heated and cooled living area; Built in 2023 with block construction and stucco exterior
