Well-Maintained Four-Unit Apartment
For Sale
$874,900
3753 Santa Barbara Blvd, Cape Coral, FL 33914
Four occupied apartments with updated exterior elements, dedicated parking, and shared green space on an oversized lot.
Property Size3,420 SF
Price / SF$255.82
Days on Market1224
Property Features for 3753 Santa Barbara Blvd
General Information
Standard status
Active
Size
3,420 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$69,300
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,043
Building Details
Year Built
2003
Buildings
1
Listing Agency:
Bartomeo Realty
Listed By:
Adam Bartomeo · License #258023476
(239) 220-0735
Source:
Exprealty
Added: May 7, 2023
Changed: Sep 5
Last Checked: Sep 10 at 2:37PM
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 Bartomeo Realty
Investment Insights
Based on property information with market context.
Built in 2003, this four-unit apartment property contains 3,420 square feet with a consistent unit layout: each residence offers two bedrooms and one bathroom, for a total of 8 bedrooms and 4 bathrooms. The property has a recently replaced roof, new exterior paint, and two newer air-conditioning systems installed in 2020 and 2022. On-site parking and green space serve the occupants, while the oversized lot adds usable outdoor area.
All four units are occupied by long-term tenants. The property is connected to city sewer and water, and all assessments have been paid. Located at 3753 Santa Barbara Blvd in Cape Coral, the asset offers an established multifamily configuration with recent exterior and mechanical updates.
All four units are occupied by long-term tenants. The property is connected to city sewer and water, and all assessments have been paid. Located at 3753 Santa Barbara Blvd in Cape Coral, the asset offers an established multifamily configuration with recent exterior and mechanical updates.
Key Highlights
- Four‑unit property with 8 bedrooms and 4 bathrooms total
- 3,420 square feet on an oversized lot
- Built in 2003 with a recently replaced roof and new exterior paint
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,268
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$905,360
$905.4K
Cap Rate 7%
$646,686
$646.7K
Cap Rate 9%
$502,978
$503.0K
Market Conditions
NOI Build-Up for 3,420 SF
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.
Gross rent
$67.7K $19.80/SF
− Vacancy
−$3.0K −$0.89/SF
EGI
$64.7K $18.91/SF
− OpEx
−$19.4K −$5.67/SF
NOI
$45.3K $13.24/SF
Area
Cape Coral, 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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$905,360
Cap Rate 7%
$646,686
Cap Rate 9%
$502,978
Alternative Uses
Best Use
Multifamily LT 5
$646.7K
$565.9K – $754.5K
NOI $45,268 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$599.3K
$524.4K – $699.2K
NOI $41,951 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$887.4K
$776.5K – $1.04M
NOI $62,118 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
183
Businesses Nearby
Explore this area
Business Placement
Demographics for 33914, FL
42,222
Population
22,936
Households
1.8
Avg Household Size
52
Median Age
28%
College-Educated
95%
High-School Grad
22.4 sq mi
ZIP Area
1,885
Density / Sq Mi
$75,557
Median Household Income
$41,672
Median Earnings
$1,714
Median Rent
$408,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied apartments with updated exterior elements, dedicated parking, and shared green space on an oversized lot.
Where is this quadplex located?
The property is located at 3753 Santa Barbara Blvd Cape Coral, FL.
What is the asking price?
The asking price for this property is $874,900.
What are key features of this property?
This property features: Four‑unit property with 8 bedrooms and 4 bathrooms total; 3,420 square feet on an oversized lot; Built in 2003 with a recently replaced roof and new exterior paint
