3100 Areca Ave

    Naples, FL 34112
    • $1,299,999
    • STATUS: Active
    • ON SITE: 153 days
    • MLS #: 218012570
    UPDATED: 158 min ago
    $1,299,999
    • 24
      BEDS
    • 0.78
      ACRES
    • 12
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1957
    County:

    School Ratings & Info

    Description

    HIGHLY DESIRABLE LOCATION & EXCELLENT INVESTMENT OPPORTUNITY! SANRI APARTMENTS was originally built in 1957 with much of the original character. These beautiful apartments are not on the soft story list; they are sitting on a large piece of land on four parcels with three concrete block dwellings. Total of 12 units consisting of 2bed/1bath, kitchen, laundry room, comfortable enclosed porch and nice size backyard. 2 assigned parking stall per unit and assigned guest parking as well. Conveniently located off Bayshore Drive, only 3 minutes from downtown Naples and 5 minutes driving distance to the beach. This property has a true value right now and is priced to sell at a very high 8% cap rate.These apartments are a money-making machine, zero vacancy rate for the last 5 years, low expenses and excellent income opportunity. There is $142,620 annual gross rental income right now, 9 out of the 12 units are rented to a private organization for the last 9 years.The apartment community has tenancies, which upon turnover, may be rented at full market rents with cosmetic improvements to maximize rental return. Also, as the tenancies turn over, the increased return will also be substantial

    Monthly Payment Calculator



    The data relating to real estate for sale on this limited electronic display come in part from the Broker Reciprocity Program (BR Program) of M.L.S. of Naples, Inc. Properties listed with brokerage firms other than Palm Paradise Real Estate are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Data last updated 2018-07-20T00:26:08.3. Some properties that appear for sale on this website may no longer be available. For the most current information, contact Palm Paradise Real Estate, 239-349-2487, bouncedemail@boomtownroi.com. Licensed in the State of Florida.
    www.palmparadiserealestate.com/homes/80844486

    3100 Areca Ave Naples, FL 34112

    • Price: $1,299,999
    • Status: Active
    • Updated: 158 min ago
    • MLS #: 218012570
    24
    Beds
    12
    Baths
    0
    ½ Baths
    0.78
    Acres
    1957
    Built
    Neighborhood:
    Sabal Shores
    County:
    Collier
    Area:
    NA09 - South Naples Area
    Property Description
    HIGHLY DESIRABLE LOCATION & EXCELLENT INVESTMENT OPPORTUNITY! SANRI APARTMENTS was originally built in 1957 with much of the original character. These beautiful apartments are not on the soft story list; they are sitting on a large piece of land on four parcels with three concrete block dwellings. Total of 12 units consisting of 2bed/1bath, kitchen, laundry room, comfortable enclosed porch and nice size backyard. 2 assigned parking stall per unit and assigned guest parking as well. Conveniently located off Bayshore Drive, only 3 minutes from downtown Naples and 5 minutes driving distance to the beach. This property has a true value right now and is priced to sell at a very high 8% cap rate.These apartments are a money-making machine, zero vacancy rate for the last 5 years, low expenses and excellent income opportunity. There is $142,620 annual gross rental income right now, 9 out of the 12 units are rented to a private organization for the last 9 years.The apartment community has tenancies, which upon turnover, may be rented at full market rents with cosmetic improvements to maximize rental return. Also, as the tenancies turn over, the increased return will also be substantial
    Exterior Features

    Boat Access None Building Design Quadraplex Canal Width None Construction Concrete Block Exterior Features Fence Exterior Finish Stucco Gulf Access YN No Irrigation Central Lot Back 0 Lot Desc Regular Lot Frontage 0 Lot Left 0 Lot Right 0 Private Pool YN No Private Spa YN No Roof See Remarks Waterfront Desc None Waterfront YN No

    Interior Features

    Baths Total 12.00 Cooling Central Electric Elevator None Flooring Tile Heat Central Electric Windows Sliding

    Property Features

    Amenities None Cable Available YN Yes Community Type Non-Gated Foreclosed Reo YN No Gross Rental Income 142620.00 Information Available Leases Legal Unit 0 Lot Unit 1 MLS Naples Pets With Approval Possession At Closing Potential Short Sale YN No Sewer Central Source Of Measure Lot Dimensions See Remarks Source Of Measure Lot Size See Remarks Status Type Resale Property Subdivision Or Condo Name Sabal Shores Tax Desc City And CountyCounty Only Tax District Type Not Applicable Tax Year 2017 Taxes 2978.00 Tenant Pays See Remarks Terms Buyer Finance/Cash Transfer Fee 0.00 Unit Count 1 Units In Building 12 Water Central Zoning Code Rmf-6

    Listing courtesy of Xclusive Homes Llc.
    The source of this real property information is the copyrighted and proprietary database compilation of the M.L.S. of Naples, Inc. Copyright 2018 M.L.S. of Naples, Inc. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it


    The data relating to real estate for sale on this limited electronic display come in part from the Broker Reciprocity Program (BR Program) of M.L.S. of Naples, Inc. Properties listed with brokerage firms other than Palm Paradise Real Estate are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Data last updated 2018-07-20T00:26:08.3. Some properties that appear for sale on this website may no longer be available. For the most current information, contact Palm Paradise Real Estate, 239-349-2487, bouncedemail@boomtownroi.com. Licensed in the State of Florida.
     
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    Fort Myers FL, 33919