1002 12Th TerCape Coral, FL 33990

This 7-unit apartment building in Cape Coral, Florida presents a compelling value-add investment opportunity. The property, built in 1980, boasts 7,022 square feet of rentable space situated on a 0.46-acre lot. The building comprises a mix of unit configurations: two 2-bedroom/1-bathroom units, four 2-bedroom/2-bathroom units, and one 3-bedroom/2-bathroom unit. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $80,683, with a pro-forma NOI projected at $98,455, representing a 5.76% current cap rate and a 7.03% pro-forma cap rate. The asking price is $1,400,000, or $200,000 per unit. Located just off Country Club Boulevard, this single-story building benefits from its proximity to essential services, including the Cape Coral Police Department and Fire Station, as well as numerous amenities such as Sun Splash Family Waterpark, Tarpon Point Marina, and the Cape Coral Historical Museum. The property's strategic location near major employers like Lee Health Cape Coral Hospital and Publix Super Markets, along with its potential for rental increases, makes it an attractive investment prospect. The property is offered fee simple. Seller financing options are available. This is a rare chance to acquire a multifamily property in the desirable "Waterfront Wonderland" of Cape Coral.