Cape Coral Fourplex Investment
For Sale
Contact for pricing
Pending
624 SE 46th Street, Cape Coral, FL 33904
Remodeled fourplex near downtown Cape Coral with vacation rental licenses.
Property Size3,616 SF
Days on Market215
Property Features for 624 SE 46th Street
General Information
Standard status
Pending
Size
3,616 SF
Property subtype
Multifamily
Zoning
R3-D
Building Details
Year Built
1979
Units
4
Listing Agency:
MAKS Realty Inc
Listed By:
Manny Gonzalez · License #FL
(239) 707-7967
Source:
Crexi
Added: Mar 9
Changed: Aug 8
Last Checked: Aug 8 at 6:30AM
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 MAKS Realty Inc
Investment Insights
Based on property information with market context.
This Cape Coral fourplex presents a great investment opportunity, situated close to downtown, shops, and restaurants. The property features a newer roof installed in 2018 and all new windows. It operates as a vacation rental, with all four units furnished and equipped with laundry facilities. Each unit has been completely remodeled, featuring new bathrooms, kitchens, granite countertops, and tile floors. The units are equipped with kitchen utensils, pots and pans, linen, and towels. The property includes a new heated swimming pool and a pergola with a TV in the backyard. Each unit has its own BBQ. A private fence surrounds the property, with private access via a lock with a code. All units are equipped with smart locks. The owner has superhost status on AirBnb and many 5-star reviews. All Florida State and County vacation rental licenses are in place. The property size is 3616 square feet.
Key Highlights
- Turnkey Vacation Rental: Fully furnished units with licenses and established Airbnb superhost status.
- Remodeled Units: Completely renovated with new bathrooms, kitchens, granite countertops, and tile floors.
- New Heated Swimming Pool: Enhances the property's appeal and rental potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,862
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$957,240
$957.2K
Cap Rate 7%
$683,743
$683.7K
Cap Rate 9%
$531,800
$531.8K
Market Conditions
NOI Build-Up for 3,616 SF
Gross rent
$71.6K $19.80/SF
− Vacancy
−$3.2K −$0.89/SF
EGI
$68.4K $18.91/SF
− OpEx
−$20.5K −$5.67/SF
NOI
$47.9K $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 Rate 5%
$957,240
Cap Rate 7%
$683,743
Cap Rate 9%
$531,800
Alternative Uses
Best Use
Multifamily LT 5
$683.7K
$598.3K – $797.7K
NOI $47,862 @ 7.0% cap · market cap 4.91%
Second Best
Apartment 5plus
$633.6K
$554.4K – $739.3K
NOI $44,355 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$938.3K
$821.0K – $1.09M
NOI $65,678 @ 7.0% cap · market cap 6.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,871
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
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?
Quadplex - Remodeled fourplex near downtown Cape Coral with vacation rental licenses.
Where is this quadplex located?
The property is located at 624 SE 46th Street Cape Coral, FL.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Turnkey Vacation Rental: Fully furnished units with licenses and established Airbnb superhost status.; Remodeled Units: Completely renovated with new bathrooms, kitchens, granite countertops, and tile floors.; New Heated Swimming Pool: Enhances the property's appeal and rental potential.
