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4 Duplex Home BFR Investment Portfolio Cape Coral FL

Listing was updated at: 05/10/2019

Property Overview

Price/Rent PSF $ 1,396,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 10,040
Date Available 05/10/2019
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Description

Location
Cape Coral sits on Florida’s stunning Gulf Coast with a regional population of 1.2 million people. Beautifully decorated 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. The City is within 10 miles of Interstate 75 connecting to the north and south-east 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.

In the fall of 2018, the city of Cape Coral began improving neighborhoods through the utility infrastructure program, The Utilities Extension Project. This project establishes and maintains reliable utility service to the customer by installing new potable (drinking) water lines, irrigation lines, and sewer lines.

As of 2017, the city of Cape Coral has been named by Forbes as the #1 Fastest Growing city in the US, #1 Metropolitan area for Job Growth, #1 Future Job Growth, and as #10 Housing Investments Cities. In addition, WalletHub and Business Insider both named Cape Coral as one of the Top 10 Best Cities to start a business.


Sale
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This Build for Rent (BFR) investment portfolio allows a buyer to purchase eight duplex homes (four buildings) in Cape Coral, Florida. Four of the homes are completed and ready for tenants. The remaining four homes are at the permitting stage and can be completed in a short time. The builder is accustomed to operating at a production/ institutional level and can complete homes as scheduled. The builder is also able to quickly scale production in Cape Coral and multiple other areas in Florida and beyond. They have a catalog of floorplans that includes attached and detached homes and are willing to create new floorplans for a programmatic buyer.

Cape Coral had a population of approximately 173,679 in 2017*, a 14% increase since 2010. This has made the area one of the fastest growing metro-areas in the country. The average age in the area is 45.9, reflecting Cape Coral’s transformation from a retirement centric area to one with expanding job growth. Forbes named Cape Coral the #1 area for job growth and the #1 area for future job growth. The median household income in 2017 was estimated to be $53,653.*

This investment portfolio is comprised of eight homes. All of the homes are 1,255 square foot single-level, 3-bedroom, 2-bathroom homes. The first four homes have been completed but there is an opportunity to select finishes on the remaining four homes. Standard features include concrete masonry construction, granite countertops in the kitchen, window blinds, double vanities in the master bath, and kitchen appliances (stainless steel dishwasher, electric range, and microwave). The first four homes are finished and the owner is starting to work with a very reputable property manager to lease the homes. A buyer could continue to work with the property manager on the remaining four homes or take over management themselves.

*U.S. Census Bureau, American Community Survey.

Location

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