7,326 Sqft Lot
7,326 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2025014645
Style Low Rise
Construction Status Resale
HOA Y/N No
Year Built 2006
Annual Tax Amount $2,436
Tax Year 2024
Lot Size 7,326 Sqft
Acres 0.1682
Property Sub-Type Multi Family
Property Description
13-Unit Multifamily Portfolio with Strong Income, Flexible Exit Options & Professional Management
Villas at Venezia presents a rare opportunity to acquire a stabilized, cash-flowing multifamily portfolio in the heart of Fort Myers—one of Southwest Florida's fastest-growing rental markets. Built in 2006, this well-maintained 13-unit complex consists of six (3 Bed / 2 Bath) and seven (2 Bed / 2 Bath) condominium-style residences averaging just over 1,000 square feet each. The property maintains 96% occupancy with a multi-year track record of minimal vacancy, reflecting tenant stability and sustained rental demand within the submarket.
A distinguishing feature of this investment is that each unit has its own Property Identification Number (PID), providing investors the flexibility to sell units individually or in bundled packages—allowing for adaptable exit strategies uncommon among small- to mid-size multifamily assets.
At the current average rent of approximately $1,290 per month ($1.26 per SF), the property generates an annual gross income of roughly $201,000 (2024 actuals), with a pro forma potential of about $215,000 as rents move toward market averages of $1,400–$1,500 per unit.
Operating expenses are well managed at approximately $55,000 annually (˜28% of Effective Gross Income), resulting in an in-place Net Operating Income (NOI) of $139,000 and a pro forma NOI near $155,000.
Based on the new asking price of $2,150,000 ($165,385 per unit | $161 per SF), the investment delivers a current cap rate of approximately 6.5% and a pro forma cap rate approaching 7.2%, supported by consistent performance and professional management.
Ownership stability is enhanced by SWFL CAM, Inc., which recently assumed association management—achieving notable cost efficiencies—alongside a local professional property manager who oversees day-to-day operations, making this a truly turnkey, passive investment. As the seller notes:
“My ownership experience has been simple and seamless—I collect a nice check every month.”
Located minutes from downtown Fort Myers, major employers, and key retail corridors, Villas at Venezia benefits from exceptional accessibility and strong regional fundamentals. Fort Myers continues to experience robust population and job growth, with 50,000+ new residents and 24,000+ new households projected over the next five years—driving sustained demand for quality rental housing and long-term appreciation potential.
All financial information is based on 2024 actuals and subject to change. Updated rent rolls, income statements, and association budgets will be provided upon request, LOI, or Offer to Purchase. Buyers are encouraged to verify all financial data and perform their own due diligence prior to purchase.
Location
State FL
County Lee
Area Fm04 - Fort Myers Area
Rooms
Bedroom Description NaN
Interior
Furnishings Furnished
Fireplace No
Exterior
Fence Yard Fenced
Utilities Available Electricity Available, Water Available
Waterfront Description None
Present Use Multi-Family
Garage No
Building
Story 2
Architectural Style Low Rise
Construction Status Resale
Others
Senior Community No
Tax ID 31-44-25-P4-02622.0104
Security Features Fire Sprinkler System
If you have been thinking about selling your home, or are looking to buy your dream home, Dina Marie Realty welcomes the opportunity to meet you!! Feel free to reach out to me so we can discuss your real estate needs.