3531 Plantation Way, Naples, Naples, FL 34112

THE ASSET: Naples 701 comprises eight (8) two-story residential buildings consisting of one-hundred-eighty-eight (188), 1-Bedroom/1-Bathroom units. The Property features 86,856 square feet of leasable space on a large and park-like 11.81-acres of land.

PROPERTY & UNIT AMENITIES: Naples 701’s units are direct entry and feature attractive floor plans, abundant windows, ample closet space, and individually controlled central air conditioning and heating. The community features a private and serene, park-like setting with ample on-site parking for residents, two swimming pools with grills and seating, a covered picnic pavilion, a fitness center, a tennis court, green space, a bark park, a pond with a fountain, and an on-site laundry facility. The well-maintained Property is professionally managed and has a 24-hour emergency maintenance staff.

SIGNIFICANT UPSIDE POTENTIAL: Naples 701 is ideal for a potential buyer looking for income growth and strong investment returns. In-place rents are below market rates, providing significant potential for upside by achieving market rents through programmatic upgrades to the unrenovated units. The Naples outlook is bright as rental demand kicks into high gear with decreasing vacancies. The submarket continues to accelerate, and rents are expected to rise over the coming years, as Naples maintains its status as one of the highest barriers-to-entry submarkets in Southwest Florida.

DESIRABLE LOCATION: Naples 701 is well positioned in the East Naples neighborhood of Naples. The Property is in between Tamiami Trail E (US Route 41) and Naples Bay in a residential neighborhood that offers a quiet rural setting, while still being near area shopping centers with a plethora of retail and dining opportunities. The Property is situated just off Bayshore Drive and is seconds from Tamiami Trail E (US Route 41), the area’s primary commercial and commuter corridors. Naples 701 is also close to downtown Naples, 4-miles from the historic Naples Pier, and 6-miles from Interstate 75.

ACCESS TO AREA AMENITIES: The Property is situated three (3) miles southeast of downtown Naples, close to the intersection of Bayshore Drive and Tamiami Trail (US Route 41) and 1.5-miles from Davis Boulevard (SR 84). The location offers convenient access to an array of amenities including numerous bus routes served by Collier Area Transit, local schools, grocery stores, national restaurants and retailers, as well as local businesses and services. Additionally, the area is home to the Naples Airport, the Gulf of Mexico, famed white-sand beaches, world-class recreation areas, and countless golf courses.

STRONG HIGHER EDUCATION PRESENCE: The Property enjoys convenient access to several colleges and universities including Florida Southwestern State College, Nova Southeastern University (Fort Myers Campus), Florida Gulf Coast University, and Keiser University (Naples Campus).

DEMOGRAPHICS: Approximately 50,200 people live within 3-miles of the Property with an average household income of $138,259. More than 100,100 people live within 5-miles of the Property with an average household income of $146,867. The area anticipates population growth at a rate of 1.4% per year for the next 5 years.