The Palms Apartments property is a great investment property with a value add opportunity with continued remodeling and rent increases to market rate. The property consists of 6 buildings located on 1.25 acres and was built in 1967. Each building contains 4 apartments 882 sq ft each for a total of 24 units and are 2 bedrooms 1 bath each. All utilities are sub-metered and there is a laundry facility on site. The property is entirely newly fenced with ample guest parking and 2 parking spots per unit. Current owner has transformed this property with many units remodeled as well as many new tenants to match the new owner's conception of the property's potential. The Fort Myers area has seen a 30% property value increase and has a strong need for class C apartment inventory at affordable rental rates. The Palms has met this need and is 100% occupied with a waiting list for additional tenant prospects. We invite you to come see the new Palms and see it's investment value. The owner is motivated and ready to move on to additional properties.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
