32 Unit Concrete Block apartment building – $449K

32 Unit Concrete Block apartment building in Fort Myers!!!!
excellent cashflow investment located in Fort Myers Florida..



Price: $449K

This building is located in Fort Myers Florida. Building contains 64 bedrooms and 32 bathrooms. Built in 1965 the property features three two-story CBS buildings situated on 1.43 acres of land. All units are 2 bedroom 1 bathroom. Property provides an onsite laundry room and plenty of parking. All roofs were replaced in 2004. Currently there are 11 units occupied paying $500 per month. Of the remaining 21 units about 12 units will need less than 2k in repair and the other 9 will need in the range of 5-6K. All units have seperate water and electric meters!!!! Upon completion you will have a excellent cashflow investment. You are buying at $14,031.25 per unit.

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Florida Recession-Proof Cities For Real Estate in Florida…

When i hear Recession-Proof Cities For Real Estate, it brings great joy. In this real estate market home sale are all over the place, mostly on the low side. Recession-Proof Cities For Real Estate have been brougth to my attention by Forbes.com. Take Fort Myers, Florida, for example. It lands on Forbes list of Recession-Resistant Cities For Real Estate in Florida. Fort Myers has lots to offer like beautiful scenery and constant sunshine; a warm, year-round climate, and fairly low utility costs. It also
has very nice people and wonderful restaurants and more…  However  this area, along with much of South West Florida, relies primarily on tourism. As a result, jobs are mainly servicerelated, and not always very easy to get. When the tourist season ends, companies cut back on hours, and steady work is a challenge to get during the off-season unless you are lucky.

Fort Myers Florida Demographics:

As of the census of 2000, there were 6,561 people, 3,425 households, and 2,048 families residing in the town. The population density was 2,290.9 people per square mile (885.7/km²). There were 8,429 housing units at an average density of 2,943.2/sq mi (1,137.9/km²). The racial makeup of the town was 97.24% White, 0.08% African American, 0.38% Native American, 0.29% Asian, 0.03% Pacific Islander, 0.99% from other races, and 0.99% from two or more races. Hispanic or Latino of any race were 3.46% of the population. Read more

Here are the nation’s 4 out of 10 most recession-proof cities:

Fort Myers, Florida
Median home price: $126,100
Second Quarter 2011 Price Increase: 3.7%
First Quarter 2011 Price Increase: 2.9%
Price Plunge Since Peak: 58.6% decline

Port St. Lucie, Florida
Median home price: $112,600
Second Quarter 2011 Price Increase: 2.5%
First Quarter 2011 Price Increase: 1.1%
Price Plunge Since Peak: 55.7% decline

Sarasota, Florida
Median home price: $143,000
Second Quarter 2011 Price Increase: 6.7%
First Quarter 2011 Price Increase: 3.4%
Price Plunge Since Peak: 22.1% decline

Destin, Florida
Median home price: $159,300
Second Quarter 2011 Price Increase: 5.6%
First Quarter 2011 Price Increase: 0.9%
Price Plunge Since Peak: 37.2% decline

Here are Reports From Forbes.com and Fox news links Below: