229 Fairweather Lane
Fort Myers Beach, FL 33931
$900,000
Price
4
Beds
4
Baths
1,840 Sq. Ft.
$489 / Sq. Ft.
1,840
Sq. Ft.
$489
per Sq. Ft.
Description
Price Improvement! This quadraplex has a productive history as a vacation rental and also as a long term rental investment. It is located in a weekly rental zone enhancing the investment opportunities. It has 4 recently renovated one-bedroom, one-bath units each with a full kitchen and a living and dining area. Recent renovations include 4 totally new bathrooms, 2 new kitchens and a new roof in 2017. The roof was unaffected by Ian as it was built with additional anchors at every foot to keep the...Price Improvement! This quadraplex has a productive history as a vacation rental and also as a long term rental investment. It is located in a weekly rental zone enhancing the investment opportunities. It has 4 recently renovated one-bedroom, one-bath units each with a full kitchen and a living and dining area. Recent renovations include 4 totally new bathrooms, 2 new kitchens and a new roof in 2017. The roof was unaffected by Ian as it was built with additional anchors at every foot to keep the structure secure. Due to Hurricane Milton, the first floor drywall has been removed and has not yet been replaced. The hot water heaters are new and the first floor units have new wiring and plumbing. Floors throughout the 4 units are attractive ceramic tile. There is one parking space assigned for each apartment. The building also offers a common washer and dryer and a peaceful patio in a tropical backyard setting. The location is ideal! It is a short leisurely walk to the beach. A beach access point is conveniently located approximately one block from the property. Access to Fort Myers Beach is open year-round from sunrise until past sunset. Guests will enjoy walking to Times Square and visiting a variety of shops and restaurants and a fishing pier. This property has a steady history of guests who have enjoyed fishing from the nearby pier or boating along the Gulf and stopping to dine at all the popular seafood restaurants. There are also parks in close proximity and many opportunities to travel to Sanibel and Captiva or take the jet powered catamarans from Fort Myers Beach to beautiful Key West. As a vacation rental the gross rent was $90,000 to $100,000 per year minus expenses for tourist tax and cleaning. The current income is from long term rentals with stable leases of $1600 monthly for each of three units and $1000 per month for the fourth tenant. There is $70,000 - $76,000 per year long term rental income. All 4 tenants would like to stay. If you are an investor looking for a steady income either as a long term or vacation rental asset this is the place for you. If you love the beach and all it has to offer, consider using one of the units for yourself and renting out the others for a steady and reliable profit. The first floor unit on the right will be available for initial tours. Once there is continued interest the others will be available. The two first floor units sustained some drywall damage from Milton. The affected drywall was removed the next day and all was dried out and ready for drywall replacement.
- Listed by Carol Hilleary • Sellstate Priority Realty
Property Details for 229 Fairweather Lane
Development
BEACH ESTATES
Building DesignQuadraplex
Community TypeBoating, Non-Gated
WaterfrontNo
Waterfront DescNone
Waterfront DescNone
ViewNone/Other
LISTING UPDATED: 11/18/2024 10:49 PM
Property Details for 229 Fairweather Lane
| Status | Active |
|---|---|
| MLS # | 224051861 |
| Days on Market | 120 |
| Taxes | $6,373 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1965 |
| Lot Size | 0.10 AC / 4,443 SF |
| County | Lee County |
Building Information for 229 Fairweather Lane
Stories2Residences4Year Built1965Building Size-Lot Size0.10 AC / 4,443 SF
Property Information for 229 Fairweather Lane
Summary
Location and General Information
- City: Fort Myers Beach
- Directions: From Fort Myers on San Carlos Blvd. turn left on Estero Blvd. to left on Fairweather Lane to 229 on the left.
- Human Modified: Yes
- Latitude: 26.45
- Longitude: -81.95
- MLS Area Major: FB02 - Crescent Street to Gulf B
- Pets: No Approval Needed
- Postal Code: 33931
- Road Responsibility: Public Maintained Road
- Road Surface Type: Paved
- Street Name: Fairweather
- Street Number: 229
- Street Suffix: LN
- Block: C
- Full Address: 229 Fairweather LN
Parking
- Covered Spaces: .00
Taxes and HOA Information
- Amenity Rec Fee: $.00
- Application Fee: $.00
- Association Fee Total Frequency: Annually
- Association Fee 2: $.00
- Tax Annual Amount: $6,373.39
- Tax Year: 2023
- Transfer Fee: $.00
- Association Fee 3: $.00
Property
Lot Information
- Development Name: BEACH ESTATES
- Number Of Buildings: 1
- Parcel Number: 19-46-24-W3-0110C.0200
- Property Type: Residential Income
- Section: 19
- Lot Unit: 20
- Source of Measure Lot Dimensions: Appraiser
- Lot Desc: Rectangular Lot
- Acres: 0.102
- Lot Size Area: 0.102
- Lot Size Dimensions: 50 x 96 x 50 x 96
- Source of Measurements: Appraiser
- Lot Size Units: Acres
- Legal Desc: BEACH ESTATES BLK C PB 6 PG 68 LOT 20 LESS ELY 11 FT OR 227 PG 410
Property and Assessments
- Total Area: 1840.0
- Possession: Close Of Escrow
- Property Condition: Resale
- Property Sub Type: Quadruplex
- Township: 46
- Range: 24E
- Special Assessment: 0.00
- Sub Condo Name: BEACH ESTATES
- Year Built Numeric: 1965
- Property Sub Type Additional: Quadruplex
- Zoning Code: RM-2
Lease Information
- Land Lease Fee: $.00
- Lease Amount Per Area Unit: Dollars Per Square Foot
- One Time Land Lease Fee: $.00
- One Time Mandatory Club Fee: $.00
- One Time Othe Fee: $.00
- One Time Special Assessment Fee: $.00
Utilities
- Sewer: Assessment Paid, Central
- Utilities: Cable Available
- Water Source: Assessment Paid, Public
- Water: Assessment Paid, Central
Multi Family
Multi-Family Information
- Gross Rental Income: $76,800.00
- Golf Type: No Golf Available
- Annual Net Operating Income: $72,960.00
- Annual Food And Beverage Minimum: 0.00
- Number Of Units Total: 4
- Annual Expenses: $3,840.00
- Other Fee: $.00
- Stories: 2.0
- Units in Building: 4
Unit 1 Information
- Monthly Gross Income: $1,000.00
- Unit Type Baths Total: 1
- Unit Type Beds Total: 1
- Unit Type Description: Laundry Common,Open Lanai/Porch,Cable Available,Dishwasher,Dryer,Range,Refrigerator,Smoke Detector,Washer
- Furnished: Unfurnished
- Unit Type Garage Spaces: .00
- Unit Type Pro Forma: 1000
- Unit Type Type: One Bedroom
- Unit Type Num Full Baths: 1
- Unit Type Num Half Baths: 0
- Living Area: 460.0
Unit 2 Information
- Monthly Gross Income: $1,600.00
- Unit Type Baths Total: 1
- Unit Type Beds Total: 1
- Unit Type Description: Laundry Common,Open Lanai/Porch,Cable Available,Ceiling Fan(s),Dishwasher,Dryer,Range,Refrigerator,Smoke Detector,Washer
- Furnished: Unfurnished
- Unit Type Garage Spaces: .00
- Unit Type Pro Forma: 1600
- Unit Type Type: One Bedroom
- Unit Type Num Full Baths: 1
- Unit Type Num Half Baths: 0
- Living Area: 460.0
Unit 3 Information
- Monthly Gross Income: $1,600.00
- Unit Type Baths Total: 1
- Unit Type Beds Total: 1
- Unit Type Description: Laundry Common,Open Lanai/Porch,Cable Available,Ceiling Fan(s),Dishwasher,Dryer,Range,Refrigerator,Smoke Detector,Washer
- Furnished: Unfurnished
- Unit Type Garage Spaces: .00
- Unit Type Pro Forma: 1600
- Unit Type Type: One Bedroom
- Unit Type Num Full Baths: 1
- Unit Type Num Half Baths: 0
- Living Area: 460.0
Unit 4 Information
- Monthly Gross Income: $1,600.00
- Unit Type Baths Total: 1
- Unit Type Beds Total: 1
- Unit Type Description: Laundry Common,Open Lanai/Porch,Cable Available,Ceiling Fan(s),Dishwasher,Dryer,Range,Refrigerator,Smoke Detector,Washer
- Furnished: Unfurnished
- Unit Type Garage Spaces: .00
- Unit Type Pro Forma: 1600
- Unit Type Type: One Bedroom
- Unit Type Num Full Baths: 1
- Unit Type Num Half Baths: 0
- Living Area: 460.0
Interior and Exterior Features
Exterior Features
- Architectural Style: Two Story
- Association Amenities: Laundry
- Canal Width: None
- Community Features: Boat Facilities, Non Gated
- Construction: Wood Frame
- Exterior Features: Patio
- Exterior Features: Patio
- Irrigation Source: None
- Patio And Porch Features: Patio
- Private Pool: No
- Roof: Built Up, Flat
- Structure Type: Quadruplex
- Gulf Access: No
- Spa: No
Interior Features
- Baths Full: 4
- Bathrooms Half: 0
- Bathrooms Total Integer: 4.0
- Beds Total: 4
- Cooling: Ceiling Fans, Window Units, Wall Units
- Cooling: Yes
- Elevator Text Details: None
- Flooring: Tile
- Heating: None
- Heating: No
- Laundry Features: Common Area
- Levels: Two
- Window Features: Single Hung
Rental
Rental Information
- One Time Rec Lease Fee: $.00
Property History for 229 Fairweather Lane
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 229 Fairweather Lane
Taxable ValueLand$289,372Additions$128,635Total$418,007
Tax Record2023$6,373 ($531 / month)
Home Facts
Beds4Total Finished SqFt230 SqFtAbove Grade Finished SqFt230 SqFtStories1Lot Size4,450 SqFtStyleSingle Family ResidenceYear Built1965Year Renovated1987ZoningRM-2CountyLEEAPN19-46-24-W3-0110C.0200
Schools near 229 Fairweather Lane
This home is within Lee.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 6 to 8 | |||
| Public - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
Fort Myers Beach Elementary School PublicPK to 5 | ||
Cypress Lake Middle School Public6 to 8 | ||
Three Oaks Middle School Public6 to 8 | ||
Bonita Springs Middle Center For The Arts Public6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Sellstate Priority Realty, Carol Hilleary
The information is being provided in part by Southwest Florida Multiple Listing Service, Broker Reciprocity Program ("BR Program") of M.L.S. of Naples, Inc. ("Naples MLS"), under License No. NCOMPN2, and MarcoMls. Information deemed reliable but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2024 Southwest Florida Multiple Listing Service and MarcoMls. All Rights Reserved. The data relating to real estate for sale displayed on this website comes in part from the Broker Reciprocity Program ("BR Program") of M.L.S. of Naples, Inc. ("Naples MLS"), under License No. NCOMPN2 and MarcoMls. Properties listed with brokerage firms other than Compass are marked with the "BR House" logo. Detailed information about such properties includes the name of the brokerage firm with which the seller has listed the property. The properties displayed may not be all the properties listed with brokerage firms participating in the Naples MLS BR Program, or contained in the database compilation of Naples MLS.
