5-Unit Apartment
For Sale
$950,000
4015 SE 19TH Avenue, Cape Coral, FL 33904
Residential Income, CAPE CORAL, FL
Property Size4,240 SF
Lot Size0.36 Acres
Price / SF$224.06
Days on Market106
Property Features for 4015 SE 19TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
RML
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Laundry Room, Bedroom 1, Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 7, Bedroom 2, Bedroom 9, Bathroom 4, Bathroom 2, Bathroom 5, Bedroom 4, Bedroom 8, Bedroom 6, Bathroom 3
Exterior features
Courtyard
Subdivision
CAPE CORAL
View
City
Directions
From Veterans Memorial Pkwy head south on Del Prado Blvd, turn left onto SE 40th St, then right onto SE 19th Ave. Property will be on the right.
Standard status
Active
APN
08-45-24-C1-00385.0160
Size
4,240 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
CAPE CORAL UNIT 7 BLK 385 PB 12 PG 112 LOTS 16 THRU 18
Tax Annual Amount
8612
Legal Description
CAPE CORAL UNIT 7 BLK 385 PB 12 PG 112 LOTS 16 THRU 18
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1978
Building materials
Stucco
Roof type
Shingle, Membrane
Listing Agency:
EPIQUE REALTY, INC.
(888) 893-3537
Listed By:
Ralph Nudi · License #090072009
(262) 308-8939
Added: May 12
Changed: Aug 20
Last Checked: Aug 25 at 5:06AM
MLS# A4693375
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 5-unit apartment property contains one 1-bedroom residence and four 2-bedroom residences within 4,240 square feet. Select units have received interior updates, and the property includes a courtyard, laundry room, central air, electric heating, stucco construction, and a combination shingle and membrane roof. The layout provides functional residential spaces along with on-site parking.
Built in 1978, the property sits on 0.36 acres in Southeast Cape Coral and is within walking distance of the renovated Jaycee Park. The established residential setting offers access to shopping, dining, and major roadways. Public water and public sewer serve the property, while zoning is designated RML.
Built in 1978, the property sits on 0.36 acres in Southeast Cape Coral and is within walking distance of the renovated Jaycee Park. The established residential setting offers access to shopping, dining, and major roadways. Public water and public sewer serve the property, while zoning is designated RML.
Key Highlights
- 5‑unit property with one 1‑bedroom unit and four 2‑bedroom units
- 4,240 square feet on 0.36 acres
- RML zoning in Southeast Cape Coral
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
$52,009
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
5.47%
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%
$1,040,180
$1.0M
Cap Rate 7%
$742,986
$743.0K
Cap Rate 9%
$577,878
$577.9K
Market Conditions
NOI Build-Up for 4,240 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
$98.7K $23.28/SF
− Vacancy
−$4.1K −$0.98/SF
EGI
$94.6K $22.30/SF
− OpEx
−$42.6K −$10.04/SF
NOI
$52.0K $12.27/SF
Area
Cape Coral, FL
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,040,180
Cap Rate 7%
$742,986
Cap Rate 9%
$577,878
Alternative Uses
Best Use
Apartment 5plus
$743.0K
$650.1K – $866.8K
NOI $52,009 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$962.7K – $1.28M
NOI $77,012 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Explore this area
Business Placement
Demographics for 33904, FL
32,029
Population
20,401
Households
1.6
Avg Household Size
56
Median Age
29%
College-Educated
95%
High-School Grad
9.7 sq mi
ZIP Area
3,302
Density / Sq Mi
$66,933
Median Household Income
$43,829
Median Earnings
$1,665
Median Rent
$347,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five residential units offer a mix of one- and two-bedroom layouts with courtyard space and updated interiors in select units.
Where is this apartment building located?
The property is located at 4015 SE 19TH Avenue Cape Coral, FL.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 5‑unit property with one 1‑bedroom unit and four 2‑bedroom units; 4,240 square feet on 0.36 acres; RML zoning in Southeast Cape Coral
