23 Unit Portfolio - Ft Myers 2 Multifamily Properties Offered at $4,499,900 in Fort Myers, FL

1947 Ricardo Ave — Fort Myers, FL 33901
Strategically located in the heart of Fort Myers’ 33901 historic urban core, 1947 Ricardo Ave is a well-situated multifamily investment with strong rental fundamentals and centralized access to amenities. This property is part of a vibrant rental market proximate to Downtown Fort Myers, the River District, retail, dining, transit corridors and community services. The walkable neighborhood supports stable long-term occupancy and appeal to working professionals, students, and local workforce renters.
Key Investment Highlights:
Multifamily configuration comprising units configured predominantly as two-bedroom/one-bath residences with tile flooring and efficient layouts.
Established rental income stream with most units currently leased; rents consistent with market comparables in the 33901 submarket.
Upside opportunity through lease-up of remaining available units and market adjustment to current Fort Myers rental rates.
Central Fort Myers location within easy reach of SW Florida College, Edison & Ford Winter Estates, employment nodes and major transportation routes.
Convenient walkability, supporting tenant retention and reducing turnover costs in a neighborhood with restaurants, services and retail amenities at close proximity.
1947 Ricardo Ave presents an investor with a core plus multifamily asset in a stable rental corridor, enhanced by ongoing rent roll optimization potential and proximity to employment and lifestyle assets.
1940 and 1942 Passaic Ave — Fort Myers, FL 33901
This 13-unit multifamily asset at 1940–1942 Passaic Ave is a solid income-producing opportunity in the Broadway Circle neighborhood of Fort Myers. Historically well-maintained and fully occupied, the property offers a diversified unit mix and a strong foundational rent roll, with potential for rent growth through lease re-pricing and interior enhancements.
Key Investment Highlights:
13 total units with a mix of one- and two-bedroom apartments, most fully renovated with updated kitchens, bath plumbing, tile flooring and functional layouts.
Stable occupancy history, with historically strong tenant retention and long-term residents in place.
Improved building systems, including newer windows, updated electrical panels, coated parking surfaces and recent roof work on select structures.
Significant rental upside, as rent levels adjust to prevailing market rates and unleased units are filled.
Adjacent commercial and transit services, including retail, bus stops, grocery and medical facilities within walking distance.
Community planning tailwinds: Fort Myers redevelopment initiatives along the Cleveland Avenue corridor are projected to enhance neighborhood amenity access and pedestrian character, benefiting long-term demand.
This Passaic Ave property is an attractive multifamily investment with proven occupancy, recent capital improvements and re-positioning potential in an established Lee County rental node.
Together, these two assets constitute a 23-unit multifamily portfolio in Fort Myers’ 33901 rental submarket, delivering current cash flow with tangible growth avenues. The combined offering delivers:
Diversified unit inventory across two proximate properties in walkable urban districts.
Income optimization potential through lease-ups, targeted interior upgrades and market rent alignment.
Strategic location benefits, including proximity to employment, education providers and lifestyle amenities drawing stable rental demand.
Market resilience in Fort Myers, which continues to attract long-term residents seeking central, amenitized housing options.
This portfolio is positioned to appeal to investors seeking a mix of immediate NOI and rental growth in a core Florida multifamily market.
If you would like more information please reach out to Jimmy Brylinke info below-