4110 Castilla Circle, Fort Myers, FL 33916

MLS# 2025014645

Description for 4110 Castilla Circle, Fort Myers, FL, 33916

Investment Opportunity – Villas at Venezia Fort Myers, Florida 13-Unit Multifamily Portfolio with Strong Income, Flexible Exit Options & Professional Management Villas at Venezia presents a rare opportunity to acquire a stabilized, cash-flowing multifamily portfolio in the heart of Fort Myers—one of Southwest Florida’s fastest-growing rental markets. Built in 2006, this well-maintained 13-unit complex consists of six (3 Bed / 2 Bath) and seven (2 Bed / 2 Bath) condominium-style residences averaging just over 1,000 square feet each. The property maintains 96% occupancy with a multi-year track record of minimal vacancy, reflecting tenant stability and sustained rental demand within the submarket. A distinguishing feature of this investment is that each unit has its own Property Identification Number (PID), providing investors the flexibility to sell units individually or in bundled packages—allowing for adaptable exit strategies uncommon among small- to mid-size multifamily assets. At the current average rent of approximately $1,290 per month ($1.26 per SF), the property generates an annual gross income of roughly $201,000 (2024 actuals), with a pro forma potential of about $215,000 as rents move toward market averages of $1,400–$1,500 per unit. Operating expenses are well managed at approximately $55,000 annually (˜28% of Effective Gross Income), resulting in an in-place Net Operating Income (NOI) of $139,000 and a pro forma NOI near $155,000. Based on the new asking price of $2,150,000 ($165,385 per unit $161 per SF), the investment delivers a current cap rate of approximately 6.5% and a pro forma cap rate approaching 7.2%, supported by consistent performance and professional management. Ownership stability is enhanced by SWFL CAM, Inc., which recently assumed association management—achieving notable cost efficiencies—alongside a local professional property manager who oversees day-to-day operations, making this a truly turnkey, passive investment. As the seller notes: “My ownership experience has been simple and seamless—I collect a nice check every month.” Located minutes from downtown Fort Myers, major employers, and key retail corridors, Villas at Venezia benefits from exceptional accessibility and strong regional fundamentals. Fort Myers continues to experience robust population and job growth, with 50,000+ new residents and 24,000+ new households projected over the next five years—driving sustained demand for quality rental housing and long-term appreciation potential. All financial information is based on 2024 actuals and subject to change. Updated rent rolls, income statements, and association budgets will be provided upon request, LOI, or Offer to Purchase. Buyers are encouraged to verify all financial data and perform their own due diligence prior to purchase.

Listing Information

Property Type: Commercial, Multi Family, Low Rise

Status: Active

Lot Size: 0.17 Acres

Year Built: 2006

Stories: 2 Story

Current Use: Multi-Family

County: Lee

Days On Market: 51

Construction Status: Resale