315 SE 24Th Ave Cape Coral, FL 33990
- Residential income homes
- 2,850 SF
Current Use by Public Records
- Residential income homes
Property Details for 315 SE 24Th Ave
- Year built
- 1981
- Property size
- 2,850 SF
- Property type
- Residential income homes
- APN
- 17 44 24 C2 01364 0540
Description
This Cape Coral duplex presents a compelling investment opportunity. Completely remodeled in 2022 and 2023, this property features two units, each with four bedrooms and four bathrooms, totaling 2,850 square feet on a 10,500 square foot lot. The renovation included new roofs, tile floors, kitchens, bathrooms, and appliances. Each unit boasts a two-car garage (four total parking spaces), central air conditioning, and a large, divided backyard. Upgrades also encompass new kitchen cabinets, stainless steel appliances, quartz and granite countertops, and updated bathrooms. Each unit has its own oversized laundry room and Florida room. Separate electric and water meters ensure tenants pay all utilities, excluding sewer service. Currently 100% occupied (as of August 31, 2023) with qualified tenants, this stabilized investment boasts a 7.77% cap rate and a $37,224 net operating income (NOI), projected to increase to $39,700. The property is zoned R3-D and was built in 1981. Annual rent increases are in place, minimizing future capital expenditures. This turnkey investment offers exceptional passive income potential with minimal management requirements. The asking price is $515,000, or $257,500 per unit. The property address is 315 SE 24th Ave, Cape Coral, FL 33990. Lee County APN: 17 44 24 C2 01364 0540.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cape Coral
- County
- Lee
- State
- Florida
- Longitude
- -81.9237507
- Latitude
- 26.6464515
