4-Unit Multifamily
For Sale
$549,900
5519 Seventh Ave, Fort Myers, FL 33907
All four apartments are leased, and residents cover their own water and electric service.
Property Size3,200 SF
Price / SF$171.84
Days on Market8
Property Features for 5519 Seventh Ave
General Information
Standard status
Active
Size
3,200 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Gross Income
$55,740
Utilities to Site
Yes
Building Details
Year Built
1971
Construction
concrete block
Listing Agency:
Florida Signature Realty Inc
Listed By:
Saulius Bruzas · License #258018801
(239) 440-8275
Source:
Naplesareapropertysearch
Added: Oct 6
Changed: Oct 11
Last Checked: Oct 12 at 8:17PM
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 Florida Signature Realty Inc
Investment Insights
Based on property information with market context.
This 3,200-square-foot multifamily property in Fort Myers contains four two-bedroom, one-bathroom apartments. Built in 1971 with concrete block construction, the building is served by central water and sewer. All units are leased, and tenants pay their own water and electric costs.
One apartment has been updated with white shaker kitchen cabinetry, large-format porcelain tile, a refreshed bathroom and new paint. The property occupies a single parcel.
One apartment has been updated with white shaker kitchen cabinetry, large-format porcelain tile, a refreshed bathroom and new paint. The property occupies a single parcel.
Key Highlights
- Four 2‑bedroom/1‑bath units; all are leased
- 3,200 square feet on one parcel
- Concrete block construction; built in 1971
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,252
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$785,040
$785.0K
Cap Rate 7%
$560,743
$560.7K
Cap Rate 9%
$436,133
$436.1K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$74.5K $23.28/SF
− Vacancy
−$3.1K −$0.98/SF
EGI
$71.4K $22.30/SF
− OpEx
−$32.1K −$10.04/SF
NOI
$39.3K $12.27/SF
Area
Lee County, 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 Rate 5%
$785,040
Cap Rate 7%
$560,743
Cap Rate 9%
$436,133
Alternative Uses
Best Use
Apartment 5plus
$560.7K
$490.7K – $654.2K
NOI $39,252 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$881.3K – $1.18M
NOI $70,502 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 33907, FL
24,980
Population
14,125
Households
1.8
Avg Household Size
43
Median Age
26%
College-Educated
89%
High-School Grad
7.3 sq mi
ZIP Area
3,422
Density / Sq Mi
$49,826
Median Household Income
$33,442
Median Earnings
$1,502
Median Rent
$236,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - All four apartments are leased, and residents cover their own water and electric service.
Where is this multifamily property located?
The property is located at 5519 Seventh Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Four 2‑bedroom/1‑bath units; all are leased; 3,200 square feet on one parcel; Concrete block construction; built in 1971
