Description

Oversized duplex with additional income opportunity in the heart of San Carlos Park. Situated on Albany Road, this ~4,466 SF property offers a rare combination of size, major upgrades, and investment potential that sets it apart from typical duplex inventory. The property is legally a duplex per LEEPA and is currently configured with three income-producing living areas, providing immediate cash flow with future expansion potential (buyer to verify zoning, permits, and use). Originally purchased as a duplex, the owner has thoughtfully enhanced and improved the property over time, creating a unique asset for owner-occupants or investors. Major improvements include a NEW ROOF (2023), solar panels that dramatically reduce electric costs, and newer A/C systems (approx. 2024). A shared screened pool adds strong tenant appeal and is a rare amenity for small multifamily properties in this area. The rear of the property now borders a canal added as part of post-storm drainage improvements (Ian), enhancing stormwater management and long-term resiliency. The property has withstood multiple major storm events, with structural integrity maintained while surrounding features such as fencing and landscaping absorbed impact. Solar energy, updated systems, and recent capital improvements significantly reduce near-term operating risk and capital expenditures. Located in a desirable non-HOA area of Fort Myers with convenient access to shopping, dining, schools, and major roadways. Comparable new-construction duplexes on the same street highlight the replacement-cost advantage offered here. Estimated gross annual rental income of approximately $52,000 with stabilized net operating income of approximately $25,000 (based on current configuration). Additional upside may exist through rent optimization or future unit expansion. Ideal for cash buyers, 1031 exchange investors, or owner-occupants seeking income, this is a compelling opportunity to acquire a large, improved multifamily asset with strong fundamentals and long-term upside.

Provided by Paradise Real Estate & Rentals, LLC