Unique opportunity for â€śbuy & holdâ€ť or immediate redevelopment investment in the heart of the olde naples district, bordering aqualane shores. Large 100'x151â€™ lot with existing rental income producing condominium association in an unrivaled location between 5th ave. And 3rd st. And within walking distance to everything downtown naples has to offer! A large parcel with 15,100 sq ft that can be redeveloped into 1 or 2 large single family homes, 3 townhomes or 4 condos! This parcel is zoned r3t-12, which allows unique transient rental opportunities for downtown naples. It can be sold in bulk (100'x151â€™); or, be re-plat into two separate parcels (50â€™x151â€™ each) and sold separately. Current owners have worked with the city of naples, various architects and contractors in town on all building possibilities. Sample plans, as well as estimated building costs from local top contractors in hand and can be shown to potential serious buyers. Presently all rentals units are generating almost $72k gross yearly. Real average value on market:$2,880,300.
The vacancy rate of homes in 34102 is
37.65% with 46.07% of homes being owner-occupied. The median household income in 34102 is $79199 per year with those between 45 and 64 having the highest median income at $90901.