610 Donax St
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610 Donax St
3 Unit Apartment Building $2,199,999 ($733,333/Unit) 9.61% Cap Rate Sanibel, FL 33957
Investment Highlights
- Just steps away from the Donax St beach, it has consistently been a priority destination for visiting tourists that love Sanibel.
- This special property is a 100 year land lease with over 50 years remaining and a smart and stable investment.
Executive Summary
This gem is a once in a lifetime opportunity for a buyer looking for an impressive income stream. This quaint three unit Inn is located in the Resort Zone and has always been rented as a daily rental. Just steps away from the Donax St beach, it has consistently been a priority destination for visiting tourists that love Sanibel for its shells, beaches and small town vibe. New Central Air Conditioner, new furniture and enhancements in upper unit. The other 2 units have been rebuilt in totality, ground up. Also new roof, new siding, new landscaping, we have focused on each part of the process with forethought and care to make this again a destination for guests throughout the Country and Internationally. This Inn has been rented on the major online accounts since 2017 and has built up a reputation for consistent bookings. 2024 calendar is already booking out, so a buyer will close with income already in place. In addition, many previous guests book direct and come back year after year. This special property is a 100 year land lease with over 50 years remaining and a smart and stable investment without the volatility of other investment options. With all the working policies and procedures already in place, a new owner can virtually take over an established business, streamlined with proven efficiencies and income.
Property Facts
Price | $2,199,999 | Building Class | B |
Price Per Unit | $733,333 | Lot Size | 3.76 AC |
Sale Type | Investment | Building Size | 2,498 SF |
Cap Rate | 9.61% | No. Stories | 2 |
No. Units | 3 | Year Built | 1976 |
Property Type | Multifamily | Parcel Number | 30-46-23-T2-01600.00CE |
Property Subtype | Apartment |
Price | $2,199,999 |
Price Per Unit | $733,333 |
Sale Type | Investment |
Cap Rate | 9.61% |
No. Units | 3 |
Property Type | Multifamily |
Property Subtype | Apartment |
Building Class | B |
Lot Size | 3.76 AC |
Building Size | 2,498 SF |
No. Stories | 2 |
Year Built | 1976 |
Parcel Number | 30-46-23-T2-01600.00CE |
Unit Amenities
- Air Conditioning
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+1 | 2 | - | - |
1+1 | 1 | - | - |
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Bike Score®
Very Bikeable (79)
zoning
Zoning Code | C |
C |
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610 Donax St
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