Here's a rare opportunity to acquire a waterfront 3-unit multifamily property with future development potential on the heart of downtown Cape Coral. The Property features 3,440 SF on .43 acres, with spacious 1,100 SF units, ample parking, and a 130' seawall with dock on a 200' wide Gulf-access canal. Two of the units are currently vacant, creating immediate flexibility for longer, seasonal, or short-term strategies, while the site offers the availability to add up to four additional units. With walkable access to restaurants and shopping and supported by Cape Coral's strong population growth and rental demand, this asset offers both stable cash flow and value-add upside.
| MLS Number: | 226000602 |
|---|---|
| List Price: | 1750000 |
| Property Type: | Residential Income |
| Building Design: | Triplex |
| Status: | Active |
| Baths Full: | 6 |
| Taxes: | 9415.42 |
| Acres: | 0.426 |
| Waterfront?: | Yes |
| City: | Cape Coral |
| County Or Parish: | Lee |
| Development: | Cape Coral |
| Postal Code: | 33904 |
| Year Built: | 1979 |
| Unit Count: | 3 |
| Amenities: | None |
| Baths Total: | 6.00 |
| Beds Total: | 6 |
| Block: | 287 |
| Boat Access: | Boat Dock Private |
| Building Desc: | Other |
| Building Design: | Triplex |
| Cable Available?: | Yes |
| Canal Width: | Canal Width 151-200 |
| City: | CAPE CORAL |
| Community Type: | Non-Gated |
| Construction: | Concrete Block |
| Contact Seller For Showing: | No |
| Cooling: | Central Electric |
| County Or Parish: | Lee |
| Current Price: | $1,750,000 |
| Development: | CAPE CORAL |
| Development Name: | CAPE CORAL |
| Elevator: | None |
| Exterior Features: | None |
| Exterior Finish: | Stone |
| Flooring: | Tile |
| Full Address: | 4520 5th PL |
| Gulf Access Type: | Bridge(s)/Water Indirect |
| Gulf Access?: | Yes |
| Heat: | Central Electric |
| Irrigation: | Other |
| Legal Desc: | CAPE CORAL UNIT 9 BLK 287 PB 13 PG 16 LOTS 52 THRU 54 |
| Legal Unit: | 0 |
| Limited Service?: | No |
| Lot Back: | 0 |
| Lot Desc: | See Remarks |
| Lot Frontage: | 0 |
| Lot Left: | 0 |
| Lot Right: | 0 |
| Lot Unit: | 52 |
| MLS Area Major: | Cc12 - Cape Coral Unit 7-15 |
| Original List Price: | $2,100,000 |
| Parcel Number: | 12-45-23-C3-00287.0520 |
| Pets: | No Approval Needed |
| Possession: | At Closing |
| Postal Code: | 33904 |
| Post Contract Serv?: | No |
| Potential Short Sale?: | No |
| Present Nego Cont?: | Yes |
| Private Pool?: | No |
| Private Spa?: | No |
| Range: | 23E |
| Roof: | Shingle |
| Section: | 12 |
| Sewer: | Central |
| Source of Measure Lot Dimensions: | Property Appraiser Office |
| Source of Measure Lot Size: | Property Appraiser Office |
| State Or Province: | FL |
| State Or Province: | FL |
| Status Type: | Resale Property |
| Sub Condo Name: | CAPE CORAL |
| Subdivision Number: | C3 |
| Tax Desc: | County Only |
| Tax District Type: | Not Applicable |
| Tax Year: | 2024 |
| Tenant Pays: | Other/See Remarks |
| Terms: | Buyer Finance/Cash |
| Township: | 45 |
| Units in Building: | 3 |
| Water: | Central |
| Waterfront Desc: | Canal |
| Windows: | Other |
| Zoning Code: | RML |
| Flood Ins Yn: | No |
| Ownint: | Listing Agent has No Interest |
Listing Courtesy of: Local Real Estate LLC
Listing Agent: Andres G Sanchez
(719) 330-1346
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Based on information from the Multiple Listing Service of Bonita Springs-Estero, these properties were not all listed or sold by Alyssa Hammel and were listed or sold by various MLS Participating Offices. These properties may not be all the listed properties in the target area.
Multiple Listing Service of Bonita Springs-Estero data last updated on October 08, 2026 05:23 PM - ET.
Property Last Updated: October 08, 2026 05:23 PM - ET
