Description

Coastal Quadplex Near Sanibel Beaches with an impressive 7.1% Cap Rate. Appraised at $750,000, serious offers only! Embrace the laid-back Florida lifestyle with this beautifully updated quadplex, ideally located just minutes from Sanibel Island and the area’s pristine beaches and shelling. Featuring four well-appointed units, each offering 2 bedrooms and 1 bathroom, and is fully occupied with long-term renters, providing immediate and reliable income. This property is NOT in an HOA! Thoughtful renovations on the lower two units completed in 2022. These units showcase coastal-inspired tile plank flooring, fresh drywall and insulation, updated electrical, updated baseboards, and light, airy interior paint. Kitchens on the lower level have been refreshed with modern appliances, updated cabinetry, granite countertops, and sleek fixtures—perfect for relaxed beachside living. Additionally, the upper left unit underwent a complete remodel in 2021, including a fully updated bathroom, new kitchen cabinets with granite countertops, new range, microwave, and refrigerator, kitchen LVP flooring, new carpet, updated electrical, modern fixtures, and fresh paint throughout. Upper right also has significant improvements providing confidence for years to come, including a new roof installed in 2023 and all HVAC replacements in 2021, 2023, and 2024. The front and rear lanais were fully rebuilt in 2023 with new framing and screens, creating inviting outdoor spaces to enjoy the Florida breeze. Adding to the property’s appeal is a spacious, fenced-in backyard complete with owners shed—an inviting outdoor retreat ideal for relaxing evenings, tenant enjoyment, and enhancing rental desirability. With its desirable location near Sanibel’s beaches, extensive updates, and an impressive 7.1% cap rate, this quadplex offers a rare opportunity to combine strong cash flow with the charm of coastal living.

Provided by Coastal Brokerage LLC