$825,000
MultiFamily for Sale in Cape Coral, FL, $825,000
937 SE 23rd Place 1-5, Cape Coral, FL, 33990
About this home
Fully occupied five-plex offering investors a turnkey, low-maintenance income stream in one of Southwest Florida's fastest-growing rental markets. The 4,957 sq. ft. property is comprised of five 2-bedroom/1-bathroom units with an annual gross income of $94,200. Ownership has recently invested significantly in the asset, including a new roof, hurricane-resistant impact windows throughout, fully renovated bathrooms, full exterior paint, parking lot reseal and stripe, and replacement of all A/C units, substantially reducing near-term capital exposure for a new buyer. • Hurricane resistant impact windows (2025) • Renovated bathrooms (2025) • All new A/C units (2024-25) • New roof (2023) • Parking lot reseal & stripe (2023) • Full exterior paint (2023)
Property details
- Type
- MultiFamily
- Year built
- 1979
- Interior
- Not specified
- Lot size
- 16,814.16 sqft
- Acreage
- 0.39 acres
- Garage
- None
- Days on market
- 11
- Total association fees
- None
- CDD
- None
- Est. taxes (1.4%)
- $11,550/yr
- Flood zone (area est.)
- No · Low risk (X)
- Storm protection
- None listed
- Exposure
- Not specified
- Waterfront
- No
- Gulf access
- No
- Gulf access type
- N/A
- Pool
- No
- Spa
- No
- Natural gas
- No
- Water
- Not specified
- Sewer
- Not specified
- New construction
- No
- Pets
- Not specified
- County
- Lee
Flood risk shown is an area-level estimate and can differ from a specific unit's actual FEMA designation (which varies by structure and elevation). Look up this address on the FEMA Flood Map and verify with a licensed insurance agent before relying on it.
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Market trends — Cape Coral
Median of closed MLS sales each month over the available window. Months with too few sales are omitted; the range extends automatically as more sales close.
Live area medians from the MLS · see all listings. Indicative, not an appraisal.
Price & status history
Down $50,000 (5.7%) from the original list price.
| Jul 31, 2026 | Price reducedfrom $875,000 | $825,000 |
| Jul 31, 2026 | Back on market | |
| Jun 18, 2026 | Listed | $875,000 |
The good, the trade-offs & the location
- Lower flood risk (zone X)
- Built 1979 — pre-2002 construction may carry older wind codes and higher insurance
- No garage listed
Straight-line distances to major SWFL amenities — approximate; actual drive times vary.
Nearby schools
Get more information on their programs, scores, and extracurriculars on each school's page · browse the full schools directory.
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Listing information is provided in part by the Florida Gulf Coast Multiple Listing Service (MLS) through its Broker Reciprocity / Internet Data Exchange (IDX) program. Properties displayed may be listed by brokerages other than SWFL Relocation Team. Data is deemed reliable but is not guaranteed accurate by the MLS or this brokerage and should be independently verified. Fees, flood zones, taxes, square footage, and school assignments are estimates from the feed and must be confirmed. © 2026 SWFL Relocation Team. All rights reserved.