Renovated Two-Unit
For Sale
$279,900
5637 Seventh Ave, Fort Myers, FL 33907
Concrete block construction and a recent roof complement updated interiors with central air conditioning.
Property Size1,602 SF
Price / SF$174.72
Days on Market26
Property Features for 5637 Seventh Ave
General Information
Standard status
Active
Size
1,602 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1974
Buildings
1
Construction
concrete block
Listing Agency:
Florida Signature Realty Inc
Listed By:
Saulius Bruzas · License #258018801
(239) 440-8275
Source:
Naplesareahomesearch
Added: Sep 26
Changed: Oct 21
Last Checked: Oct 21 at 2:23AM
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
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Investment Insights
Based on property information with market context.
This 1,602-square-foot duplex contains two 2-bedroom, 1-bathroom units. Both have remodeled kitchens with white shaker cabinetry and stainless steel ranges, updated bathrooms, ceramic tile flooring, fresh paint, and central A/C. The concrete block building has a 2022 roof and dates to 1974.
The property is in Fort Myers, near shopping, dining, and major roads. Central water and sewer serve the building, and a large concrete driveway provides on-site parking. The parcel is in flood zone X500. One unit is leased at $1,295 per month.
The property is in Fort Myers, near shopping, dining, and major roads. Central water and sewer serve the building, and a large concrete driveway provides on-site parking. The parcel is in flood zone X500. One unit is leased at $1,295 per month.
Key Highlights
- Two 2‑bedroom, 1‑bathroom units
- 1,602 square feet; concrete block construction
- 2022 roof and central A/C
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,205
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,100
$424.1K
Cap Rate 7%
$302,929
$302.9K
Cap Rate 9%
$235,611
$235.6K
Market Conditions
NOI Build-Up for 1,602 SF
Gross rent
$31.7K $19.80/SF
− Vacancy
−$1.4K −$0.89/SF
EGI
$30.3K $18.91/SF
− OpEx
−$9.1K −$5.67/SF
NOI
$21.2K $13.24/SF
Area
Lee County, 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 Rate 5%
$424,100
Cap Rate 7%
$302,929
Cap Rate 9%
$235,611
Alternative Uses
Best Use
Multifamily LT 5
$302.9K
$265.1K – $353.4K
NOI $21,205 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$280.7K
$245.6K – $327.5K
NOI $19,651 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$504.2K
$441.2K – $588.3K
NOI $35,295 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,110
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Concrete block construction and a recent roof complement updated interiors with central air conditioning.
Where is this duplex located?
The property is located at 5637 Seventh Ave Fort Myers, FL.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bathroom units; 1,602 square feet; concrete block construction; 2022 roof and central A/C
