Property ID : 19598661
Sold $349,900.00 - Commercial, Condominium, Multi unit, Residential
2450 Katherine Street Fort Myers is a 2 story 8 unit multi family building that is 100% occupied and has been recently updated!
All units at 2450 Katherine Street Fort Myers are 2 bedroom, 1 bath and tile throughout. A new roof was installed in October 2015. Property management is also in place. Each unit also has a washer/dryer hookup in the kitchen closet.
Roof Replaced – $10,000 Unit Four water heater replaced – $1,159 Underground water leak detected and repaired – $1,740 Units 6,7, and 8 painted inside. Complete including walls, trim, and ceilings Building exterior pressure washed All building trim painted. This includes window sills, all exterior doors, and rails. Electrical room repaired. (wood panels replaced) Three exterior doors replaced includes two storage doors and door at electrical room A/C system for unit three being repaired. Coils being replaced.
Located in midtown area of Fort Myers, close to City of Palms Park area. Approx 1 block east of Fowler on Katherine Street. This area is growing and the close by surrounding areas will be improved as per the City of Fort Myers.
Eman represented the Buyer in this transaction. Purchase price of $325K. Rehab costs were approx $75K. Net Operating Income for this property is approx $45K a year. This is an 11% ROI.