12305 1st St, Fort Myers, FL 33905

Great Cash flow property, tenant pays all utilities except trash. Within the last 10 years owner has replaced, roof, 2 kitchens, 2 bathrooms, all windows and doors, and tiled all units throughout. There is an added plus with 3 separate storage/laundry rooms for each tenant. Current rents are low, owner has and likes long term tenants and does not raise rents often to achieve this goal, rents should be $800/unit. At $800/month GRI = $28,800, GRM = 7.4, NOI = $24,600 with an 11.5% Cape rate.