403 Hancock Bridge Parkway Cape Coral, FL 33990
MULTI_FAMILY - Other - Cape Coral, FL
- Added:
- Jul 27, 2024
- Days on Market:
- 714
- Last Refresh:
- Jul 10 at 10:06 pm
Property Features for 403 Hancock Bridge Parkway
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- APN
- 13-44-23-C1-01095.0410
- Lot size
- 0.36 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Description
- CAPE CORAL UNIT 23 BLK 1095 PB 14 PG 50 LOTS 41 THRU 43
- Tax Annual Amount
- 7677
Building Details
- Year built
- 1982
- Floors in Building
- 1
- Architectural style
- Other
Listing agent David Piper License #281520418 (239) 919-7444
Listing office Real Broker, LLC 122 W Pine St, Ste 300, Championsgate, FL (407) 279-0038
Listing date Jul 27, 2024
Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. 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.
The building is located at 403 Hancock Bridge Parkway in Cape Coral, Florida, and is positioned for convenience to shopping and dining. The property is described as about one-half mile from Santa Barbara Pkwy and Pine Island Rd.
For tenants and operators, the consistent unit layout can simplify leasing and maintenance, and the metering setup supports direct utility payments by residents. Three units are currently occupied with long-term, good-standing tenants. The seller notes there is room for improvement, which may be considered by buyers evaluating the property as a value-add or stabilization-oriented acquisition. Please do not walk the property or disturb tenants; showings must be scheduled in advance.
Key Highlights
- Multi‑family 5‑plex with 10 bedrooms and 5 baths, offering a substantial investment opportunity.
- New 2023 dimensional shingle roof for maximized efficiency.
- Each unit has 2 bedrooms and 1 bath with private backyard spaces.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.1k | $23.28 |
| − Vacancy | −$4.2k | −$0.98 |
| EGI | $95.9k | $22.30 |
| − OpEx | −$43.2k | −$10.04 |
| NOI | $52.7k | $12.27 |
