One or more photo(s) has been virtually staged. Coldwell Banker Realty is pleased to present The Riverside Retreat, a newly refurbished river’s edge Quadruplex with 2 existing boat docks sitting directly on the Caloosahatchee River which winds past Tarpon Bay opening into the Gulf of Mexico. All four units are in 1 rock-solid masonry building with a second building available for additional income. The property has undergone 100% complete refurbishment in recent years including a brand new full roof system in 2016 which resolutely withstood Hurricane Ian despite being right at the water’s edge, a brand new 45 ft concrete seawall in 2018, a brand new septic tank, the upstairs units were fully refurbished in ’21 and the downstairs units in ’23 with new bathrooms, new kitchens and new flooring. The resort-type location of this quad is perfect for AirBnb and seasonal visitors and the riverside location and boat docks with pilings further increase the value-add opportunities for this property.
Income –
Current rents are at $1499 whereas Market Rent for the area is $1850 ( $351 increase).
Private boat docks with pilings rent for $100-$500 per month – with added lifts/power/water will command more.
Laundry charges – laundry facilities can be installed in the storage building, monthly charge of c.$50 per tenant per month or can be charged per cycle.
Watersports Hire from the property can be charged – fishing, boating, jet-skis, paddle boards, kayaks etc.
Subject to planning permission storage building can be converted/extended to additional accommodation – zoning is RM-2 (1-10 units)
Property Brochure available in attachments. Offering Memorandum and Property Financials available.