Property Overview
Price/Rent PSF $ 19,110,000.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 131,544
Date Available 11/25/2019
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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. 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 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.


Sale
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This Build for Rent (BFR) investment opportunity allows a buyer the opportunity to acquire 84+ homes in Cape Coral, Florida. The homes will be constructed by an experienced builder with an extensive lot inventory in the area allowing a buyer the opportunity to expand the portfolio through time. The seller can complete approximately 10 homes per month once started. The lots are currently going through permitting and will be ready to build on quickly.

Cape Coral has a population of approximately 179,804 in 2016, 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 44, reflecting Cape Coral’s transformation from a retirement only 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 seller is currently planning on two home floor plans and is designing a third. The two current plans are a 1,462 square foot, 3-bedroom, 2-bathroom home and a 1,670 square foot home, also 3-bedroom, 2-bath. Both will have attached 2-car garages and be constructed to high standards. A buyer has the opportunity to select finish level.

Location