229 Fairweather LN Pending Save Request In-Person Tour Request Virtual Tour
Fort Myers Beach,FL 33931
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Pending
Purchase Type For Sale
Square Footage 1,840 sqft
Price per Sqft $489
Subdivision Beach Estates
MLS Listing ID 224051861
Style Two Story
Bedrooms 4
Full Baths 4
Construction Status Resale
HOA Y/N No
Year Built 1965
Annual Tax Amount $6,373
Tax Year 2023
Lot Size 4,443 Sqft
Acres 0.102
Lot Dimensions Appraiser
Property Description
Price Improvement! This quadraplex has a productive history as a vacation rental and also as a long term rental investment. It is located in a weekly rental zone enhancing the investment opportunities. It has 4 recently renovated one-bedroom, one-bath units each with a full kitchen and a living and dining area. Recent renovations include 4 totally new bathrooms, 2 new kitchens and a new roof in 2017. The roof was unaffected by Ian as it was built with additional anchors at every foot to keep the structure secure. Due to Hurricane Milton, the first floor drywall has been removed and has not yet been replaced. The hot water heaters are new and the first floor units have new wiring and plumbing. Floors throughout the 4 units are attractive ceramic tile. There is one parking space assigned for each apartment. The building also offers a common washer and dryer and a peaceful patio in a tropical backyard setting.
The location is ideal! It is a short leisurely walk to the beach. A beach access point is conveniently located approximately one block from the property. Access to Fort Myers Beach is open year-round from sunrise until past sunset. Guests will enjoy walking to Times Square and visiting a variety of shops and restaurants and a fishing pier. This property has a steady history of guests who have enjoyed fishing from the nearby pier or boating along the Gulf and stopping to dine at all the popular seafood restaurants. There are also parks in close proximity and many opportunities to travel to Sanibel and Captiva or take the jet powered catamarans from Fort Myers Beach to beautiful Key West. As a vacation rental the gross rent was $90,000 to $100,000 per year minus expenses for tourist tax and cleaning. The current income is from long term rentals with stable leases of $1600 monthly for each of three units and $1000 per month for the fourth tenant. There is $70,000 - $76,000 per year long term rental income. All 4 tenants would like to stay. If you are an investor looking for a steady income either as a long term or vacation rental asset this is the place for you. If you love the beach and all it has to offer, consider using one of the units for yourself and renting out the others for a steady and reliable profit. The first floor unit on the right will be available for initial tours. Once there is continued interest the others will be available. The two first floor units sustained some drywall damage from Milton. The affected drywall was removed the next day and all was dried out and ready for drywall replacement.
Location
State FL
County Lee
Community Beach Estates
Area Fb02 - Crescent Street To Gulf B
Rooms
Bedroom Description NaN
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Heating None
Cooling Ceiling Fan(s), Window Unit(s), Wall Unit(s)
Flooring Tile
Fireplace No
Window Features Single Hung
Laundry Common Area
Exterior
Exterior Feature Patio
Community Features Boat Facilities, Non- Gated
Utilities Available Cable Available
Amenities Available Laundry
Waterfront No
Waterfront Description None
Water Access Desc Assessment Paid,Public
Roof Type Built- Up, Flat
Porch Patio
Garage No
Private Pool No
Building
Lot Description Rectangular Lot
Dwelling Type Quadruplex
Entry Level Two
Sewer Assessment Paid, Public Sewer
Water Assessment Paid, Public
Architectural Style Two Story
Level or Stories Two
Structure Type Stucco,Wood Frame
Construction Status Resale
Others
Pets Allowed Yes
Senior Community No
Tax ID 19-46-24-W3-0110C.0200
Acceptable Financing All Financing Considered,Cash
Listing Terms All Financing Considered,Cash
Pets Description Yes