GARDENIA GARDENS

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SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Gardenia Gardens. Gardenia Gardens is located within minutes of Lee County Local Government Headquarters (9,000+ Jobs), Lee Memorial Hospital (1,100 Jobs), and Fort Myers Downtown Commercial District. Gardenia Gardens was built in 1974 and offers residents with 795 SF two-bedroom/one-bathroom units centrally located to three major employment hotspots in the Fort Myers area. This deal provides investors with the opportunity to renovate the units and increase low in-place rents by 37.5%.

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

8
UNITS

6,360
SQFT

1974
YEAR BUILT

PRICED AT
MARKET BID

VITAL PROPERTY DATA

  • Property Addresses: 4331 Glenwood Avenue, Ft. Myers, FL 33905

  • NUMBER OF UNITS: 8 Units

  • RENTABLE SQUARE FOOT: 6,360 SF

  • AVERAGE UNIT SIZE: 795 SF

  • NUMBER OF BUILDINGS: (1) Residential

  • LOT SIZE: 0.32 Acres +/-

  • FINANCING: Free and Clear

ASSET WITHIN A GROWING MARKET

  • Value-Add Opportunity in a Rapidly Growing Market

  • Highly Desirable Concrete Block Construction with Central HVAC

  • Ability to Increase Rents by 49.2% After Completing a Strategic Renovation Plan

  • Ability to Increase the Net Operating Income from Year 0 to Year 1 by 69.33%

  • 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)

CENTRALIZED LOCATION TO AREA ATTRACTIONS & EMPLOYERS

  • 5-Minute to Billy Creek Commerce Center

  • 5-Minutes to Terry Park Sports Complex

  • 6-Minutes to Dean Park Historic District

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

  • 12-Minutes to Fort Myers Downtown Commercial District

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

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

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

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

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

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

FT. MYERS/CAPE CORAL: AN EXPANDING ECONOMY

  • #1 Fastest Growing City in the County 2020 (The Mortgage Report)

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

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

  • #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

  • Located Within the Second Ranked “Most Up-and-Coming Cities in America” (Neighbor)

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