Golden Palms Waterfront Resort 3226 Stringfellow Rd 8 Unit Apartment Building $1,750,000 ($218,750/Unit) 8.81% Cap Rate Saint James City, FL 33956

Introducing a rare investment gem on picturesque Pine Island — an 8-unit multifamily waterfront property ideally positioned for income, cash flow and lifestyle appeal. Located at 3226 Stringfellow Road, this well-situated asset offers a turnkey opportunity with a unique mix of short-term and long-term revenue potential, ready for an investor seeking both stability and upside.
The building comprises eight units—each with one bedroom and one bath—nestled on a prime 0.44-acre lot (19,201 sq ft) with direct gulf-access canal frontage and a full dock for boating.
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Water lovers and vacationers alike will be drawn to the canal access and seaside setting, giving this property standout appeal. Six of the units have been recently renovated with updated kitchens, bathrooms, flooring and finishes, while the remaining two units offer opportunity for further value creation.
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The location supports a flexible leasing model: a portion of the units are stabilized with annual leases providing dependable cash flow, while others generate higher yield through vacation-style short-term rentals (e.g., Airbnb). This blended strategy brings both income certainty and seasonal upside.
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Infrastructure highlights include a complete metal roof installed in 2025, new mini-split air-conditioning systems in each unit, coin-operated laundry on the premises, ample parking and a pet-friendly fenced yard.
Realty.com
The expansive waterfront deck is a major amenity, offering outdoor entertainment space and commanding views over the canal—boosting guest satisfaction and tenant retention.

Further value-add potential exists: the generous lawn area provides a possible pool site, and additional refinements in unit finishes or rental rate optimization could elevate returns even more.
Located in one of Lee County’s most desirable island sub-markets, the asset benefits from limited multi-unit supply, strong vacation demand and bay-to-gulf access, reinforcing its appeal for investor-owners and 1031 buyers alike.
In summary, this is not just a multifamily investment—it’s a coastal lifestyle hospitality hybrid with long-term hold potential. The combination of waterfront presence, recent capital improvements, mixed-term lease structure and upside makes 3226 Stringfellow Road a highly compelling offer in today’s market. Serious investors will recognize the rarity of an 8-unit asset of this caliber on Pine Island. Don’t miss the chance to acquire this distinct property with both cash-flow strength and layered value-creation opportunities.