2315 Bayside St Naples, FL 34112

Property Details for 2315 Bayside St

Lot size

0.60 lot acres

Property type

Commercial real estate

Description

This exceptional 8-unit apartment building presents a compelling investment opportunity in Naples, Florida's desirable East Naples neighborhood. The property, comprised of four single-story duplex buildings, boasts 5,200 square feet of rentable space situated on a 0.6-acre lot. Each of the eight units features two bedrooms and one bathroom, recently renovated with condo-quality finishes including vinyl plank flooring, updated fixtures, stainless steel appliances, granite countertops, and hardwood cabinets. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $119,120, representing a 6.11% capitalization rate. The asking price is $1,950,000, or $243,750 per unit. Conveniently located near Tamiami Trail (US Route 41), this prime location offers easy access to shopping, dining, and major transportation routes, including proximity to downtown Naples, Naples Airport, and Interstate 75. The surrounding area features a strong population base with high average household incomes and projected population growth, ensuring a stable and potentially appreciating asset. Built in 1973 and 1974, this property offers a blend of established income and renovation-driven value. The property's location also benefits from its proximity to several colleges and universities, further enhancing its long-term investment potential. This fee-simple ownership opportunity provides a strong return on investment in a thriving Florida market.