3750 LORA STREET

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SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire 3750 Lora Street Apartments. The property is a 12-unit, three building opportunity located in Fort Myers, FL. The property is located minutes from the vastly growing Fort Myers commercial business district and the midtown redevelopment that will reshape the entire Fort Myers downtown area. This property was built in 1979 and consists of all two-bedroom units. 3750 Lora Street offers investors the potential to increase rents 56% after interior and exterior renovations, and the potential to achieve cash-on-cash returns north of 10% upon stabilization within the first 12-15 months.

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

12
UNITS

9,000
SQFT

1979
YEAR BUILT

PRICED AT
MARKET BID

VITAL PROPERTY DATA

  • Property Addresses: 3750 Lora Street, Ft. Myers, FL 33916

  • NUMBER OF UNITS: 12 Units

  • RENTABLE SQUARE FOOT: 9,000 SF

  • AVERAGE UNIT SIZE: 750 SF

  • NUMBER OF BUILDINGS: (3) Residential

  • LOT SIZE: 0.45 Acres +/-

  • FINANCING: Free and Clear

ASSET WITHIN A GROWING MARKET

  • Bite Size Value-Add Multifamily Asset in one of Florida’s Hottest Markets

  • Highly Desirable Concrete Block Construction Built in 1979 Consisting of all 2x1 Units

  • Potential to Increase Rents by 56% After Completing Interior and Exterior Renovation Plan

  • Potential to Achieve Cash-On-Cash Returns North of 10% After Stabilization

  • Property is Centrally Located to Many of the Major Employers in the Lee County Area (Lee County Government Headquarters, Lee Memorial Hospital, Lee County School District; Containing an Employment Base of 23,000+ Employees)

CENTRALIZED LOCATION TO AREA ATTRACTIONS & EMPLOYERS

  • 3-Minutes to Terry Park Sports Complex

  • 5-Minutes to Dean Park Historic District

  • 9-Minutes to Lee County Local Government Headquarters (9,000+ Employees)

  • 9-Minutes to Fort Myers Downtown Commercial District

  • 13-Minutes to Lee Memorial Hospital (1,100+ Employees)

  • 12-Minutes to LeeSar/Cooperative Services of Florida (500+ Employees)

  • 12-Minutes to Lee County School District Headquarters (13,500+ Employees)

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

  • 15-Minutes to Chico’s Fas Headquarters (1,100+ Employees)

  • 21-Minutes to Gartner Inc. (1,200+ Employees)

FT. MYERS/CAPE CORAL: AN EXPANDING ECONOMY

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

  • #3 Fastest Growing Places 2021-2022 (US News & World Reporting)

  • #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)

  • #16 Overall Real Estate Prospects 2021 (PWC/ULI “Emerging Trends)

  • 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