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Unlock the potential of this .34-acre property in the heart of Cape Coral, featuring a well-maintained duplex with city-approved plans to build an additional three-unit multifamily building. Each existing unit offers 2 bedrooms, 2 bathrooms, updated flooring, and separate entrances to each bedroom, making it easy to maximize rental income by splitting the units into 4 separate 1 bedroom rentals. Recent upgrades include a new roof, hot water heater, and air conditioning units, all replaced within the last two years. The property boasts ample driveway parking, a detached common laundry area with storage, and screened-in patios with stunning southern-facing sunset views. Negotiable furniture gives you the flexibility to rent immediately or start fresh with your own design. Located just minutes from downtown Cape Coral, this property is within walking distance of shopping, dining, and entertainment. Enjoy the vibrant local scene with events like farmers markets, Bike Nights, and art walks. The upcoming Cape Coral Yacht Club & Beach are a short drive, while Fort Myers Beach and Sanibel Island are only 20 and 30 minutes away, respectively. Future developments, including the $100 million Bimini Square Project, Yacht Club renovation, Deep Lagoon waterfront restaurant, retail shops, luxury apartments, and Lee Health Medical facility, make this an even more attractive investment opportunity. Whether you're looking to live in one unit and rent the others or take advantage of the approved expansion, this property offers unmatched potential in a rapidly growing area. Don't miss out—schedule your private tour today to explore this unique investment opportunity!

PROPERTY FEATURES

Pets Allowed : Yes
Water Source : Assessment Paid
Exterior Features: Storage Patio And Porch Features : Patio Roof : Shingle
Architectural Style : Duplex Structure Type : Duplex R3-D
Cooling: Ceiling Fan(s), Central Electric Heating : Central Electric
Construction Materials: Concrete Block, Stucco Foundation Details: Concrete Block
Building Description : Duplex Flooring : Laminate, Vinyl
Other Structures: Storage

PROPERTY DETAILS

Street Address: 4616 5th AVE
City: Cape Coral
State: Florida
Postal Code: 33904
County: Lee
MLS Number: 224065373
Year Built: 1964
Courtesy of EXP Realty, LLC

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