Windsor East Flats
3675 Broadway
Fort Myers, FL 33901
Highlights
- Attractive Value-Add Opportunity Executed Renovations
- Opportunity to Employ Rubs
- Common Area Pool Amenity
- +/-2.5 Miles to Downtown Core of Fort Myers
- +/-8.5 Miles to SW Florida International Airport
- +/-12.4 Miles to Fort Myers Beach
- +/-14.6 Miles to Sanibel Island
- 75% of Units are Renovated Per Seller
- 100% A/C Units Replaced Per Seller
- 20% Windows w/Hurricane Impact Windows
- Superb Unit Mix | (38) 2/1.5TH, (40) 2/1, (8) 1/1
Description
The Flats of Windsor East represents a strategic investment opportunity within a burgeoning market characterized by substantial development and expansion. Situated just minutes away from Downtown Fort Myers, Florida, the property boasts a highly coveted unit mix, predominantly featuring two-bedroom apartment units in a variety of townhome-style floorplans.
Enhancing the appeal of this investment are the community amenities, which include a picturesque park-like setting and a well-maintained community pool, complemented by ample laundry facilities. Notably, the Seller reports that 75% of the units have undergone significant renovations, with ongoing installation of new windows as units become available. Originally conceived as a condominium project, The Flats of Windsor East offers larger-than-average units for its class, elevating its appeal within the B Class investment spectrum.
Cap Rates in Southwest Florida stand competitively against those of major metropolitan areas like South Florida, owing to the rapid urban growth witnessed in the city. Moreover, the prevailing trend of new construction primarily catering to Class A Multifamily or larger single-family homes underscores the pressing demand for workforce housing—a niche that The Flats of Windsor East effectively addresses.
Guided by a comprehensive renovation strategy and proactive property management, The Flats of Windsor East is poised to maintain strong performance levels. Market projections for rental income are both realistic and achievable, further bolstered by the ongoing installation of Hurricane Impact Windows, which not only enhance property resilience but also yield substantial discounts in the current insurance market.
In summary, The Flats of Windsor East presents a compelling value-add opportunity within one of the nation's most dynamic real estate markets, promising attractive returns for discerning investors.
Introducing The Flats of Windsor East: a strategically positioned community nestled in Lee County, Southwest Florida's thriving epicenter. With the vibrant locales of Naples to the South and Sarasota to the North, Fort Myers stands at the forefront of rapid expansion within this historically significant Floridian city.
At the heart of Fort Myers lies the bustling Downtown River District, a dynamic hub teeming with an array of entertainment options. From boutique shops and exquisite eateries to captivating galleries and upscale hospitality, this district pulsates with life day and night. Moreover, the presence of both County and Federal Courthouses within walking distance enhances the district's allure, positioning it as a prime locale for business and leisure alike.
The allure of Fort Myers and its surrounding Cape Coral area extends beyond its geographical bounds. Drawing visitors from far and wide, this region embodies a coastal lifestyle synonymous with relaxation and recreation. From the world-renowned seashell haven of Sanibel Island to the newly minted Margaritaville on Fort Myers Beach, tourism thrives, bolstering the local economy.
Fort Myers boasts a diversified economy anchored by key sectors. Tourism and Hospitality stand as pillars, catering to a burgeoning service industry. Meanwhile, Real Estate and Construction command attention, with monumental projects such as Babcock Ranch and the Gateway community reshaping the landscape with sustainable developments and modern retail havens.
Fueling this economic engine are major employers like Hertz Global, Chico's HQ, and Lee Health, which drive the area's workforce forward. Fort Myers emerges as a beacon of growth, poised for decades of prosperity. With its tropical climate and business-friendly environment, investing in this market offers an unparalleled opportunity to partake in the transformation of Southwest Florida's coastline.