Highlights:  This property is a perfect representation of a core plus asset.  This property is located in a quiet, upscale neighborhood within the Fort Myers/Naples MSA.    Built-in 2010 the complex consists of 18 garden units and is situated on a 2.5-acre parcel that is located on a Gulf Access canal with a private boat ramp.  The property is also within walking distance to a historic downtown area that provides an attractive blend of small shops, cafes, and restaurants.  Within a five-minute car ride residents have access to a variety of chain stores and restaurants as well as nearby golf and tennis facilities. These factors have allowed current management to maintain a 95% occupancy rate since acquiring the property in 2014. The property is coming to market as part of an estate settlement.

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Repositioning:  The property target acquisition price will be $3,005,000 and we will plan to invest an additional $30,000 into property improvements to include improved signage, updated landscaping and limited exterior paint.  These improvements will restore the complex to its first and best status and provide the opportunity to maintain the current tenant base that will provide excellent continual cash flow.

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