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Marketing Description
SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Paradise Gardens Apartments. The Property is well located within Cape Coral, FL, is three blocks from Cape Coral Hospital, 14-minutes from the Lee County VA Health Center, and 16-minutes from Lee Memorial Hospital. Furthermore, Paradise Gardens is four blocks from Del Prado Blvd., a major north/south artery that is lined with office buildings and retail centers. The Property was built in 1985 and consists of eight two-bedroom, eight three-bedroom townhome units, with an amenity package featuring a swimming pool and fenced courtyard. Paradise Gardens offers investors the opportunity to acquire an asset with average in-place rents, 30% to 35% below the average rents achieved by all directly comparable properties and located within the 3rd Fastest Growing MSA for 2021-2022, according to US News & World Reporting.
Investment Highlights
- Rare Unit Mix Offering Some of the Only Two-Story Townhome Floorplans in the Cape Coral Market
- Units Already Sub Metered for Water
- In-Unit Laundry Connections and Appliances
- Located Within the second ranked “Most Up-and-Coming Cities in America” (Neighbor)
- Situated Between Three Major Hospitals (3,000+ Employees)
- In-Place Average Effective Rents are 38% and 33% (2BD and 3BD Respectively) Below the Average of All Rent Comparables
- Ability to Increase Net Operating Income by 44.63% Within the First Twelve to Fifteen Months Following Acquisition
- 1-Minute to Cape Coral Hospital (1,200 + Employees)
- 6-Minutes to Sun Splash Family Waterpark
- 8-Minutes to the Pine Island Retail Corridor
- 9-Minutes to Cape Coral Commons Development (50k SF of Retail)
- 14-Minutes to Downtown Cape Coral
- 14-Minutes to Lee County VA Health Center (400+ Employees)
- 15-Minutes to Downtown Ft. Myers (225+ Businesses)
- 16-Minutes to Lee Memorial Hospital (1,400+ Employees)
- 17-Minutes to Page Field Airport (3,328 Employees)
- 18-Minutes to Florida Southwestern State College (526 Full-Time Employees)
Loan History
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Contact Information
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Ownership Information
Zoning
RML ResidentialMulti FamilyResidential Multifamily Low
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View all 115 uses Last updated May 9, 2026 For deeper zoning details, reports are available at Zoneomics
Property Details
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Contacts
Sold on
BY:
Benjamin Skinner PRO
•••.•••.3889
••••••••.•••nner@•••••••••••••••.com
Sold on
BY:
Matthew Prozzillo
•••.•••.3888
•••••••.•••••illo@•••••••••••••••.com
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BY:
Jhamil Moore
•••.•••.2783
••••••.•oore@••••••.com
Sold on
BY:
Alec Neu
•••.•••.2161
alec@••••••••••••••••••.com
Map
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