Available For Sale - Multifamily

87,636 SF

Multifamily Space in Fort Myers for sale

LISTED BY

Steven Paulsen
Open Market CRE, 561-929-4098

AVAILABILITY DETAILS

Size
87,636 SF
Price/SF
N/A - Contact for Info
Listing ID
SA546996
Notes
The Flats of Windsor East represents a strategic investment opportunity within a burgeoning market characterized by substantial development and expansion. Situated just minutes away from Downtown Fort Myers, Florida, the property boasts a highly coveted unit mix, predominantly featuring two-bedroom apartment units in a variety of townhome-style floorplans.



Enhancing the appeal of this investment are the community amenities, which include a picturesque park-like setting and a well-maintained community pool, complemented by ample laundry facilities. Notably, the Seller reports that 75% of the units have undergone significant renovations, with ongoing installation of new windows as units become available. Originally conceived as a condominium project, The Flats of Windsor East offers larger-than-average units for its class, elevating its appeal within the B Class investment spectrum.



Cap Rates in Southwest Florida stand competitively against those of major metropolitan areas like South Florida, owing to the rapid urban growth witnessed in the city. Moreover, the prevailing trend of new construction primarily catering to Class A Multifamily or larger single-family homes underscores the pressing demand for workforce housing—a niche that The Flats of Windsor East effectively addresses.



Guided by a comprehensive renovation strategy and proactive property management, The Flats of Windsor East is poised to maintain strong performance levels. Market projections for rental income are both realistic and achievable, further bolstered by the ongoing installation of Hurricane Impact Windows, which not only enhance property resilience but also yield substantial discounts in the current insurance market.



In summary, The Flats of Windsor East presents a compelling value-add opportunity within one of the nation's most dynamic real estate markets, promising attractive returns for discerning investors.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Steven Paulsen, Open Market CRE
BRE# BK3053136