14 Del Prado Blvd N 2797 # 101, Cape Coral, FL 33909, United States

Listing was updated at: 05/31/2020
Property Overview
Price/Rent PSF $ 8,601,040.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 84,871
Date Available 11/30/2018
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Cape Coral sits on Florida’s stunning Gulf Coast with a regional population of 1.2 million people. Naturally amenitized by the Caloosahatchee River and more than 400 miles of sprawling canals makes Cape Coral one of the most navigable cities by waterways in the world. Cape Coral is the largest city in Southwest Florida, strategically located between Tampa and Miami. The City is within 10 miles of Interstate 75 connecting to the north and southeast parts of the State. Cape Coral is #1 of the top 25 growth cities in the country given their incredible 2016 job growth(3.93%), wage growth(7.08%), population growth(3.93%), home price appreciation (10.66%), and all accompanied by Florida’s pro-business environment. Cape Coral is one of the largest master-planned communities in the nation with modern infrastructure systems in place. Cape Coral is well-served with the essential utilities, roads and telecommunications resources that are necessary to support growth. Traffic flows smoothly on our established roadways and extensive broadband and fiber optics provide an easy global reach.

Port Charlotte is an unincorporated community in Charlotte County, which is a mainly agricultural and residential area, with the towns of Punta Gorda and Port Charlotte located at the head of Charlotte Bay along Florida’s Gulf Coast. Both towns are quiet and residential with a substantial percentage of retirees and winter residents. Port Charlotte was named to Forbes' list of "25 Best Places to Retire in 2015," and the terrain is level with residential areas close to water and agriculture mixed with cypress forests and swampland farther inland. The zone on the Gulf of Mexico from Venice to Port Charlotte is world famous for its fishing, beaches and beautiful climate. Now it is also one of the best places in the US to find profitable land and waterfront property investment opportunities.

This 46 Home SFR investment portfolio opportunity located primarily in Cape Coral, Florida offers an investor immediate cash flow in the growing Southwest Florida submarket. Subject to price changes, a few homes are currently under contract and being sold to retail consumers. An investor will have the opportunity to acquire either the whole portfolio if those few homes do not transact or still a 46+ home portfolio in one of the fast-growing markets in the country. The average vintage of homes in this portfolio is 1996 and offers spacious floor plans throughout.

Rental rates throughout the portfolio are roughly 11% below market rates, which are continuing to climb in this submarket and will continue bringing increased cash flow to investors bottom line over the next few years. Southwest Florida is an exploding market located in the greater Cape Coral / Fort Myers MSA, with reaping benefits of the economic growth rate. Cape Coral is the largest city in southwest Florida and nearly 75% of Florida’s population is within 160 miles of Cape Coral. The state of Florida is already well known for its business-friendly environment, offering low corporate income tax rates and no personal income tax, ranking Florida continuously as one of the top states to do business in.

The Cape Coral-Fort Myers metropolitan area is the No. 1 fastest-growing region in the nation for job and population growth, according to Moody’s 2017 Analytics, with recent 2016 numbers showing 3.39% increase in population & 3.93% job growth. This makes investing in the SW Florida rental market a no-brainer. With increasing population and limited rental opportunities, home price appreciation and rent growth makes the Cape Coral marketplace a perfect opportunity for SFR Portfolio Investors.