Cobblestone on the Lake_Actifs en vente
Cobblestone on the Lake_Actifs en vente
4400 Cortina Circle, Fort Myers, FL, 33916, US

Cobblestone on the Lake

Description

Jones Lang LaSalle, Inc. (“JLL”) proudly presents Cobblestone on The Lake, a distinctive 248-unit multifamily community in Fort Myers, Florida, complemented by additional shell buildings offering expansion potential. This three- and four-story property, originally constructed as condominiums, stands out as one of the few remaining authentic value-add opportunities in Southwest Florida, featuring entirely original unit interiors. The buyer will acquire a truly unique asset characterized by exceptionally spacious unit interiors, two-car garages, townhome-style units, and 10-foot ceilings. Additionally, the property includes shell buildings that can be developed to potentially increase the total unit count to 290, further enhancing the investment’s upside potential. This rare combination of features and expansion possibilities provides an ideal canvas for implementing a customized value-add strategy, allowing the new owner to significantly enhance the property’s appeal, scale, and financial performance through tailored renovations, upgrades, and strategic development.


Property Common Amenities

  • Heated Swimming Pool
  • Spa
  • 24-Hour Fitness Center
  • Clubhouse
  • Lake Views
  • Playground
  • Pet Play Area
  • Lifestyle Services Provided by Amenify
  • Grilling & Picnic Area
  • Gated Entryway
  • Fully Secured Fenced Surrounding Entire Property
...

Caractéristiques de l'actif

Nombre d'unités
248
Occupation
92,6 %
Année de construction
2008
Surface de l'actif brut
23 597 m²

Média

Points clés d'investissement

  • 1,330 SF average unit size - largest floorplans in the market
  • Concrete block exteriors, interiors, and subfloors
  • 90% two and three-bedroom floorplans
  • 22% three-story townhome units with attached two-car garage
  • 10-foot ceiling and vaulted living and bedrooms on all top floors
  • Every unit has elevator access
  • Potential to add 42 units
  • Significant value-add opportunity - 5.0X+ equity multiple potential


Recent Property Improvements

  • All new roofs completed on all buildings (2024)
  • Recently freshly painted exteriors (2024)
  • Repairs and bringing online of irrigation system (in process)
  • New pool fence surrounding patio
  • Paint & furniture upgrade in the clubhouse
  • New FOB system for pool & fitness center
  • Complete gutter repair & replace
  • New parking lots - milling & new asphalt plus seal & stripe
  • Landscaping improvements
  • Repairs and bringing online of irrigation system
Cobblestone on the Lake 4_Actifs en vente
Cobblestone on the Lake 4_Actifs en vente

Contacter l'équipe

Cobblestone on the Lake (0 actifs)

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Dernière mise à jour
11 févr. 2025