For Sale
$2,250,000

4616 Golden Gate PkwyNaples, FL 34116

8-Unit Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 8-unit apartment building in Naples, Florida, presents a compelling investment opportunity. Located at 4616 Golden Gate Pkwy, 34116, this property boasts a total net rentable area of 7,168 square feet across two one-story buildings on a 0.76-acre lot. Built in 1984, the property features a favorable unit mix of eight two-bedroom, two-bathroom units, each equipped with a washer and dryer. Five of the eight units have undergone complete renovations, showcasing vinyl plank flooring, stainless steel appliances, new cabinets, light fixtures, windows, countertops, and sinks. Significant recent capital improvements exceeding $100,000 have been made, including a roof replacement in 2020, new windows, parking lot maintenance, and updated siding. The property is zoned RMF-12-GGD and offers a current NOI of $132,751, resulting in a 5.90% cap rate. Pro-forma NOI is projected at $164,674, yielding a 7.25% cap rate. The asking price is $2,250,000, or $281,250 per unit. The property benefits from a strong location, with an average household income within a two-mile radius exceeding $95,894. Detailed financial information is available upon request. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a desirable location. APN: 35980160006, 35980200005.

Highlights

  • 8-unit multifamily property in Naples, FL.
  • Eight two-bedroom, two-bathroom units.
  • Roof replaced in 2020.
  • Over $100,000 in recent capital improvements including new windows, parking lot maintenance, and updated siding.
  • Five units fully renovated with vinyl plank flooring, stainless steel appliances, and new fixtures.
  • Each unit includes in-unit washer and dryer.

Property Details for 4616 Golden Gate Pkwy

Property type
Apartment buildings
Year Built
1984
Buildings
2
Stories
1
Lot Size (sq. ft)
33,106 SF
Units
8

Location Insight

City
Naples
County
Collier
State
Florida
Latitude
26.183981604008
Longitude
-81.700527303911
4616 Golden Gate Pkwy, Naples, Florida

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4616 Golden Gate Pkwy
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