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    Cape Coral Four-Unit Property Title is generated by Realmo AI

    513 SE 24th Ave, Cape Coral, FL 33990

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    For Sale
    $849,000

    MULTI_FAMILY - Other - CAPE CORAL, FL

    Property size:
    4,660 SF
    Lot size:
    0.36 Acres
    Price / SF:
    $182/SF
    Added:
    Apr 16, 2026
    Days on Market:
    78
    Last Refresh:
    Jul 2 at 8:06 am

    Property Features for 513 SE 24th Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RML
    Bedrooms
    8
    Bathrooms
    8
    Rooms
    Bedroom 7, Bathroom 8, Bathroom 6, Bathroom 5, Bathroom 2, Bathroom 7, Bedroom 8, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 4, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 5, Bathroom 1
    Pets allowed
    Yes
    Pool private
    1
    Exterior features
    Storage
    Standard status
    Active
    APN
    17-44-24-C3-01364.0230
    Size
    4,660 SF
    Lot size
    0.36 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    CAPE CORAL UNIT 18 BLK 1364 PB 13 PG 114 LOTS 23 THRU 25
    Tax Annual Amount
    10839

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Electric, Central Air, Ceiling Fan(s)

    Building Details

    Year built
    1978
    Number of units
    4
    Flooring type
    Tile
    Building materials
    Concrete Block, Wood Frame, Stucco
    Roof type
    Metal
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Contact an agent
    Lora Merrill

    Listing agent Lora Merrill License #NAPLES-244521496

    Listing office William Raveis Real Estate 5801 Pelican Bay Boulevard Ste 103, Naples, FL

    Listing date Apr 16, 2026

    MLS# 226015823 Listing URL

    Copyright © 2026 Naples Area Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 4‑unit property built in 1978 with central and electric heating, and central air plus electric cooling
    • In‑ground private pool with fully screened pool enclosure; refurbished (2025) and new pool pump (2023)
    • Roof upgrades in 2025: new metal roofs and gutters on both buildings
    • 2025 exterior improvements include professionally painted exterior and refurbished pool cage/screening
    • Recent unit systems: new HVAC in two units (2023/2024) and new water heaters in two units (2024)
    • Exterior includes storage and tile flooring; construction includes concrete block, wood frame, and stucco

    Overview

    This well-maintained four-unit property presents an investment opportunity with income potential and flexibility for long-term tenants, seasonal rentals, or short-term use. Situated off the Hancock Bridge Parkway on SE 24th Ave in Cape Coral, Florida, the property is in a desirable area with access to major routes and local amenities. The property features a shared outdoor space with a refurbished, fully screened in-ground pool. Each unit includes its own patio area. Recent upgrades include a professionally painted exterior, new metal roofs and gutters on both buildings (all in 2025), refurbished pool cage and screening (2025), new HVAC systems in two units (2023 and 2024), new water heaters in two units (2024), and a new pool pump (2023). The location provides access to the Caloosahatchee River Bridge for commuting to downtown Fort Myers. The property is also minutes from parks, Gulf beaches, shopping centers, restaurants, and other attractions. The property, zoned RML, is situated on a 0.361-acre lot. The property size is 4660 square feet.

    Local Financial Insights For Multifamily LT 5

    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 $92.3k $19.80
    − Vacancy −$4.2k −$0.89
    EGI $88.1k $18.91
    − OpEx −$26.4k −$5.67
    NOI $61.7k $13.24
    4,660 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $881.2K
    $771.0K – $1.03M (±1% cap)
    NOI $61,681 @ 7.0% cap · market cap 7.27%
    Second Best
    Apartment 5plus
    $816.6K
    $714.5K – $952.7K (±1% cap)
    NOI $57,161 @ 7.0% cap · market cap 6.73%
    Theoretical Best
    Office A
    $1.21M
    $1.06M – $1.41M (±1% cap)
    NOI $84,641 @ 7.0% cap · market cap 9.97%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cape Coral
    County
    Lee
    State
    Florida
    Longitude
    -81.9238069
    Latitude
    26.6430032

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    FAQs

    What type of property is this?
    Quadplex - Well-maintained four-unit property with income potential and recent upgrades.
    Where is this quadplex located?
    The property is located at 513 SE 24th Ave Cape Coral, FL.
    What is the asking price?
    The asking price for this property is $849,000.
    What are key features of this property?
    This property features: 4‑unit property built in 1978 with central and electric heating, and central air plus electric cooling; In‑ground private pool with fully screened pool enclosure; refurbished (2025) and new pool pump (2023); Roof upgrades in 2025: new metal roofs and gutters on both buildings
    (239) 290-9151
    We can help!
    Contact an agent
    Lora Merrill
    Real Estate License ID: NAPLES-244521496
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