1606 ANDALUSIA BLVD

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SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire the 1606 Andalusia Blvd, which consists of 7-units. The property is located in north Cape Coral, on the Northwest corner of Diplomat Pkwy E and Andalusia Blvd. The Property has recently undergone light renovations in order to achieve higher rents. Moving forward, an investor has the ability to continue the progress the Seller has made, by further renovating unit interiors, and adding washer/dryer appliances to laundry facility. Through these renovations an investor can continue to capitalize on the 12% pro-forma in market rent and additional income that the laundry facility will bring to the property. 

Property tours are by appointment only. Please contact one of the listing brokers below to schedule tours.

7
UNITS

5,500
SQFT

1988
YEAR BUILT

PRICED AT
MARKET BID

VITAL PROPERTY DATA

  • Property Addresses: 1606 Andalusia Blvd, Cape Coral, FL

  • NUMBER OF UNITS: 7 Units

  • RENTABLE SQUARE FOOT: 5,500 SF

  • AVERAGE UNIT SIZE: 786 SF

  • NUMBER OF BUILDINGS: (1) Residential

  • LOT SIZE: 0.55 Acres +/-

  • FINANCING: Free and Clear

ASSET WITHIN A GROWING MARKET

  • Located Within the “Number Six Emerging Housing Markets for 2022” – WSJ/Realtor.com

  • Property is Centrally Located to Many Major Employers in Lee County (VA Clinic Cape Coral, Cape Coral Hospital, Fort Myers Medical Center

  • Units Sub metered for Water and Electric

  • Potential Income through Installation of W/D in On-Site Laundry Facility

CENTRALIZED LOCATION TO AREA ATTRACTIONS & EMPLOYERS

  • 5-Minutes to Cape Coral Technical College

  • 5-Minutes to Del Prado Blvd N and Pine Island Rd Retail Corridor (Publix, Lowe’s Home Improvement, Target, PetSmart, ALDI, Chick-fil-a, Starbucks)

  • 6-Minutes to Lee County VA Clinic (200+ Employees)

  • 7-Minutes to Santa Barbara Blvd N and Pine Island Rd Retail Corridor (Sam’s Club, Kohl’s, Walmart Neighborhood Market, Walgreens, Publix Supermarket)

  • 8-Minutes to Mariner High School

  • 9-Minutes to North Nicholas High School

  • 10-Minutes to Fort Myers Medical Center

  • 10-Minutes to Cape Coral Hospital (1,200+ Employees)

  • 17-Minutes to Downtown Fort Myers

FT. MYERS/CAPE CORAL: AN EXPANDING ECONOMY

  • #2 Most Up-And-Coming Cities in America

  • #6 Emerging Housing Markets Index 2022 (WSJ/Realtor.com)

  • #8 Fastest Growing Cities in the US 2021 (Rocket Mortgage)

  • #10 Downtown Fort Myers – America’s Hottest Neighborhoods of 2022 (Redfin)

  • 27% Population Growth (2010-2020)

  • 30% Employment Growth (2010-2020)

  • Ft. Myers/Cape Coral MSA Population of 790,767

DEAL TEAM CONTACTS

Alec Neu
Investment Associate
O. (407) 557-3860
Alec.Neu@marcusmillichap.com

Benjamin Skinner
Associate Director | Senior Investment Associate
O. (407) 557-3889
Benjamin.Skinner@marcusmillichap.com

Matthew Prozzillo
Associate Director | Senior Investment Associate
O. (407) 557-3888
Matthew.Prozzillo@marcusmillichap.com

Contact an Agent Listed Above to Schedule Property Tours