Spacious Condo with Lanai
4122 Residence Drive 120, Fort Myers, FL 33901
Centrally located condo with lanai, close to amenities.
Type:Condo/Townhome
Property size:
697 SFLot size:
0.19 AcresPrice / SF:
$218/SF- Added:
- Nov 1, 2024
- Days on Market:
- 577
- Last Refresh:
- May 19 at 10:47 pm
Property Features for 4122 Residence Drive 120
General Information
- Standard status
- Active
- Size
- 697 SF
- Lot size
- 0.19 Acres
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 2005
Listing agent Natalia San Filippo License #249521425 (239) 699-5458
Listing office Premiere Plus Realty Company (239) 699-5458
Listing date Nov 1, 2024
Source Exitrealty
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 Premiere Plus Realty Company
HighLights
- Central location within walking distance to malls, restaurants, coffee shops, and shopping.
- Close proximity to the River District and historic downtown Fort Myers with art galleries, antique shops, restaurants, convention center, and marina.
- Spacious 1‑bedroom condo with a large bathroom.
- Big lanai with a view over a green backyard.
- Convenient access to public transportation (bus station) for reaching local towns and beaches.
- Investment opportunity with potential for residual income from annual rental.
Overview
This spacious condo features one bedroom and a large bathroom. The open-concept design is complemented by high ceilings and a screened lanai that overlooks a green backyard. The property is conveniently located within walking distance of a mall, restaurants, coffee shops, and other retail establishments. A bus station nearby provides access to local towns and beaches. The River District and historic downtown Fort Myers, with its art galleries and antique shops, are also close. Numerous dining options are available downtown. The property is near the Convention Center, the Marina in the River District, and a park. McGregor Street, known as the longest street in Southwest Florida, features historic homes and museums, including the Thomas Edison and Ford Herrison historic homes. The waterfront Pinchers Restaurant, with its marina and river views, is also nearby. This unit is currently rented annually, offering residual income potential for investors.
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 | $16.2k | $23.28 |
| − Vacancy | −$681 | −$0.98 |
| EGI | $15.5k | $22.30 |
| − OpEx | −$7.0k | −$10.04 |
| NOI | $8.5k | $12.27 |
697 SF · lease $23.28/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$122.1K
$106.9K – $142.5K
NOI $8,550 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$219.4K
$192.0K – $255.9K
NOI $15,356 @ 7.0% cap · market cap 10.10%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Residential income properties
Location Insight
- Map
- Local Demand
- City
- Fort Myers
- County
- Lee
- State
- Florida
- Longitude
- -81.8639136
- Latitude
- 26.6017728
Nearby Similar for Sale
FAQs
What type of property is this?
Residential income property - Centrally located condo with lanai, close to amenities.
Where is this residential income property located?
The property is located at 4122 Residence Drive 120 Fort Myers, FL.
What is the asking price?
The asking price for this property is $152,000.
What are key features of this property?
This property features: Central location within walking distance to malls, restaurants, coffee shops, and shopping.; Close proximity to the River District and historic downtown Fort Myers with art galleries, antique shops, restaurants, convention center, and marina.; Spacious 1‑bedroom condo with a large bathroom.
