2580 Wild Pines Ln Naples, FL 34112

Property Details for 2580 Wild Pines Ln

Lot size

5.37 lot acres

Property size

137,361 SF

Property type

Apartment buildings

Description

This exceptional 200-unit apartment complex presents a compelling value-add investment opportunity in the heart of Naples, Florida. The property boasts desirable two-story concrete block construction with pitched roofs, ensuring durability and timeless appeal. Comprising two phases, Phase I features 96 units (80 built in 1986 and 16 rebuilt in 2018/2024), while Phase II includes 104 affordable units constructed in 2001 with restrictions expiring in 2031. Once these restrictions lift, significant value will be unlocked through market-rate conversions. Located in an affluent submarket with an average household income exceeding $156,576 within a 3-mile radius, the property benefits from minimal workforce housing inventory, further enhancing its investment potential. A substantial mark-to-market opportunity exists, with submarket comparables indicating a rental upside of approximately $200+ per unit. The property also includes a small parcel of land, allowing for expansion by 6-12 units or enhancement of existing amenities such as grilling areas, a soccer field, and a pet park. Conveniently situated just 6 minutes from Downtown Naples and 10 minutes from Naples Beach and Third Street South, this property offers an unparalleled location in a highly sought-after market. The property encompasses 137,361 square feet on a 5.37-acre lot and includes amenities such as two sparkling pools, two laundry rooms, a leasing office and business center, a gym, 23 garages, and picnic areas. An assumable loan with a 3.44% fixed, interest-only rate for six additional years is available.