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Waterfront Apartments 3817 Del Prado Blvd S 16 Unit Apartment Building $2,850,000 ($178,125/Unit) Cape Coral, FL 33904
Investment Highlights
- Situated directly on the Rainbow Canal
- 5 rentable boat slips providing additional income potential
- Waterfront Tiki hut and barbecue area
- Less than five minutes by boat to the Caloosahatchee River
- On-site laundry facility providing an additional revenue source
- Landscaped courtyard and resident sitting area
Executive Summary
LQ Commercial Group is pleased to offer for for sale a well-maintained 16-unit multifamily investment property situated directly on the Rainbow Canal in Cape Coral, Florida. Offering a combination of strong existing occupancy, waterfront amenities and additional income sources, the property provides investors with an established rental asset along one of Cape Coral’s most traveled commercial corridors.
The 7,632 SF apartment property is currently 90% occupied and features five rentable boat slips, providing an additional revenue stream beyond the residential units. Residents enjoy direct waterfront access with the Caloosahatchee River less than five minutes away by boat, making the property especially attractive to tenants seeking the Southwest Florida waterfront lifestyle.
Originally constructed in 1974, the property has benefited from recent improvements, including a new roof in 2024 and new windows and doors in select units. Additional amenities include an on-site laundry facility, landscaped courtyard and sitting area, plus a large waterfront Tiki hut and barbecue area overlooking the Rainbow Canal.
Located at 3817 Del Prado Boulevard S, the property benefits from excellent visibility and convenient access along one of Cape Coral’s primary northsouth corridors while ffering residents a quiet canal-front setting.
• Situated directly on the Rainbow Canal
• Less than five minutes by boat to the Caloosahatchee River
• 5 rentable boat slips providing additional income potential
• On-site laundry facility providing an additional revenue source
• Waterfront Tiki hut and barbecue area
• Landscaped courtyard and resident sitting area
• Highly visible Del Prado Boulevard location
• Convenient access to shopping, dining, employment and Cape Coral amenities
The 7,632 SF apartment property is currently 90% occupied and features five rentable boat slips, providing an additional revenue stream beyond the residential units. Residents enjoy direct waterfront access with the Caloosahatchee River less than five minutes away by boat, making the property especially attractive to tenants seeking the Southwest Florida waterfront lifestyle.
Originally constructed in 1974, the property has benefited from recent improvements, including a new roof in 2024 and new windows and doors in select units. Additional amenities include an on-site laundry facility, landscaped courtyard and sitting area, plus a large waterfront Tiki hut and barbecue area overlooking the Rainbow Canal.
Located at 3817 Del Prado Boulevard S, the property benefits from excellent visibility and convenient access along one of Cape Coral’s primary northsouth corridors while ffering residents a quiet canal-front setting.
• Situated directly on the Rainbow Canal
• Less than five minutes by boat to the Caloosahatchee River
• 5 rentable boat slips providing additional income potential
• On-site laundry facility providing an additional revenue source
• Waterfront Tiki hut and barbecue area
• Landscaped courtyard and resident sitting area
• Highly visible Del Prado Boulevard location
• Convenient access to shopping, dining, employment and Cape Coral amenities
Property Facts
| Price | $2,850,000 | Building Class | C |
| Price Per Unit | $178,125 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 8,852 SF |
| No. Units | 16 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1973/2024 |
| Apartment Style | Low-Rise | Parking Ratio | 2.91/1,000 SF |
| Zoning | R3-W - 03 - Multi-Family 10 or More | ||
| Price | $2,850,000 |
| Price Per Unit | $178,125 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 8,852 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2024 |
| Parking Ratio | 2.91/1,000 SF |
| Zoning | R3-W - 03 - Multi-Family 10 or More |
Amenities
Site Amenities
- Courtyard
- Laundry Facilities
- Waterfront
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 06-45-24-C3-00542.0210 | Improvements Assessment | $1,144,604 |
| Land Assessment | $425,123 | Total Assessment | $1,569,727 |
Property Taxes
Parcel Number
06-45-24-C3-00542.0210
Land Assessment
$425,123
Improvements Assessment
$1,144,604
Total Assessment
$1,569,727
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Waterfront Apartments | 3817 Del Prado Blvd S