4613 Skyline BlvdCape Coral, FL 33914

Property Details for 4613 Skyline Blvd

Year built

1985

Lot size

0.46 AC

Property size (Sq ft)

6,572 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This 8-unit apartment building, known as Skyline Lofts, presents a compelling value-add investment opportunity in Cape Coral, Florida. Located at 4613 Skyline Blvd, this 1985-built, two-story building sits on a 0.46-acre lot and offers a total of 6,572 square feet of net rentable space. The property boasts a mix of four one-bedroom/one-bathroom and four two-bedroom/one-bathroom units, currently operating at 100% occupancy. The asking price is $1,450,000, representing $181,250 per unit and a price per square foot of $220.63. The property features a current Net Operating Income (NOI) of $76,157, translating to a 5.25% capitalization rate. However, a pro-forma NOI of $99,799 projects a significantly higher 6.88% capitalization rate, indicating substantial upside potential through rent increases. The building benefits from a brand new roof installed in 2022 and central air conditioning throughout. Its prime location offers convenient access to major thoroughfares like Cape Coral Parkway West, connecting to the Cape Coral Bridge, and is close to various amenities, including Sun Splash Family Waterpark, Tarpon Point Marina, Cape Coral Historical Museum, Gulf Coast Town Center, and major employers like Lee Health Cape Coral Hospital and Publix Super Markets. Attractive seller financing options are available. This fee-simple ownership opportunity allows for immediate control and potential for significant returns. The property's strong location and value-add potential make it an attractive investment for discerning buyers.

Location Insight

City

Cape Coral

County

Lee

State

Florida

Latitude

26.5658

Longitude

-81.9906

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