937 SE 23rd Pl 1-5, Cape Coral, FL 33990
Five fully occupied 2-bedroom units in a recently updated five-plex with new roof, impact windows, and HVAC replacements.
- Added:
- Jun 23, 2026
- Days on Market:
- 3
- Last Refresh:
- Jun 24 at 3:31 am
Property Features for 937 SE 23rd Pl 1-5
General Information
- Standard status
- Active
- Size
- 4,957 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1979
Listing office LSI Companies (239) 287-8616
Listing date Jun 23, 2026
Source Elliman
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 LSI Companies
HighLights
- Fully occupied five‑plex built in 1979 with five 2‑bedroom/1‑bath units
- 4,957 sq. ft. property with $96,000 annual gross income
- New roof in 2023
- Hurricane‑resistant impact windows installed in 2025
- Bathrooms renovated in 2025
- All A/C units replaced in 2024‑25; parking lot reseal & stripe and full exterior paint completed in 2023
Overview
The building is located in Cape Coral, Florida, and is described as car-dependent based on the provided Walk Score. BikeScore is 50, indicating moderate bikeability. Parking lot condition updates are specifically noted, which can support day-to-day tenant arrival and vehicle access.
For investors seeking a turnkey, income-producing multifamily asset, this five-plex is positioned as a stabilized offering with current unit occupancy and an improvement timeline that addresses several major building components. The combination of updated roofing, impact windows, renovated bathrooms, and replaced A/C units provides a practical foundation for ownership without immediate large-ticket construction tied to those items.
Local Financial Insights For Apartment 5plus
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 | $115.4k | $23.28 |
| − Vacancy | −$4.8k | −$0.98 |
| EGI | $110.6k | $22.30 |
| − OpEx | −$49.7k | −$10.04 |
| NOI | $60.8k | $12.27 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Cape Coral
- County
- Lee
- State
- Florida
- Longitude
- -81.9250627
- Latitude
- 26.634453
