Four-Unit Residential Income
For Sale
$380,000
4902 Victoria Dr Unit 1, Cape Coral, FL 33904
Quadplex with three occupied units, ample parking, and covered screen patios, with one unit being repainted.
Property Size1,788 SF
Price / SF$212.53
Days on Market106
Property Features for 4902 Victoria Dr Unit 1
General Information
Standard status
Active
Size
1,788 SF
Property subtype
Multi-Family
Occupancy
75%
Additional Details
Multifamily Units
4
Building Details
Year Built
1961
Tenancy
Multi
Listing Agency:
EXP Realty LLC
Listed By:
Joe Petno · License #772003642
(615) 799-9929
Source:
Naplesareahomesearch
Added: May 23
Changed: Sep 4
Last Checked: Sep 5 at 8:56AM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property (quadplex) offers a practical, low-maintenance layout for long-term tenants. Three of the four units are currently occupied, and the seller notes good cash flow. Units feature tile flooring and covered, screened patios, and the property also provides lots of parking for residents and visitors. Unit C is in the process of being repainted and includes some minor repairs as it comes back to market.
The asset is described as being in the heart of Cape Coral, within walking distance to 47th. It is also positioned street-over from Cape Coral Parkway, which can support day-to-day accessibility for renters.
For buyers seeking a small multifamily with existing occupancy, this quadplex presents a straightforward lineup: three active units plus one unit undergoing light renovations. The covered patios and parking availability are tangible considerations for residential tenants, while the repainting and minor repairs underway for Unit C may help streamline readiness for the next occupant. Please contact us for additional information and details on the current unit status.
The asset is described as being in the heart of Cape Coral, within walking distance to 47th. It is also positioned street-over from Cape Coral Parkway, which can support day-to-day accessibility for renters.
For buyers seeking a small multifamily with existing occupancy, this quadplex presents a straightforward lineup: three active units plus one unit undergoing light renovations. The covered patios and parking availability are tangible considerations for residential tenants, while the repainting and minor repairs underway for Unit C may help streamline readiness for the next occupant. Please contact us for additional information and details on the current unit status.
Key Highlights
- Quadplex built in 1961 with three of the four units currently occupied
- One unit (Unit C) is being repainted with minor repairs in progress
- Tile flooring and covered screen patios in the units
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
$23,667
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
6.23%
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%
$473,340
$473.3K
Cap Rate 7%
$338,100
$338.1K
Cap Rate 9%
$262,967
$263.0K
Market Conditions
NOI Build-Up for 1,788 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
$35.4K $19.80/SF
− Vacancy
−$1.6K −$0.89/SF
EGI
$33.8K $18.91/SF
− OpEx
−$10.1K −$5.67/SF
NOI
$23.7K $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%
$473,340
Cap Rate 7%
$338,100
Cap Rate 9%
$262,967
Alternative Uses
Best Use
Multifamily LT 5
$338.1K
$295.8K – $394.5K
NOI $23,667 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$313.3K
$274.2K – $365.5K
NOI $21,932 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$463.9K
$406.0K – $541.3K
NOI $32,476 @ 7.0% cap · market cap 8.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,280
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?
Quadplex - Quadplex with three occupied units, ample parking, and covered screen patios, with one unit being repainted.
Where is this quadplex located?
The property is located at 4902 Victoria Dr Unit 1 Cape Coral, FL.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Quadplex built in 1961 with three of the four units currently occupied; One unit (Unit C) is being repainted with minor repairs in progress; Tile flooring and covered screen patios in the units
