Investment Overview

Marcus & Millichap, as exclusive listing agent, is pleased to present Cactus Flower Apartments (the “Property”), a 10-unit multifamily investment opportunity ideally located in the vibrant core of Downtown Fort Myers, Florida. Located at 1761 Fowler Street, Cactus Flower Apartments was constructed in 1972 using durable concrete block construction. The two-story building sits on a 0.61-acre lot and offers approximately 7,056 square feet of rentable living space. The Property features ten (10) two-bedroom / one-bathroom apartments, catering to strong demand from the local renter demographic. The Property is situated on three total lots, totaling approximately 25,571 square feet, which presents significant development potential. Based on the current zoning and lot configuration, there is an opportunity to construct an additional sister building, enhancing the long-term value and utility of the site. Situated just off US-41 (S Cleveland Avenue), the Property enjoys excellent visibility and accessibility along Fowler Street, one of the primary corridors into Downtown Fort Myers. Residents benefit from walkable proximity to the Fort Myers River District, Edison & Ford Winter Estates, IMAG History & Science Center, and a broad selection of restaurants, retail, and entertainment venues. This dynamic urban location continues to attract both residents and investors as revitalization efforts further enhance the downtown area. The Property is also strategically positioned near major employment centers, including Lee Health, Lee County Government Offices, and the Lee County School District, contributing to strong tenant demand and long-term occupancy stability. Ongoing downtown redevelopment and infrastructure investment further strengthen the Property’s outlook for appreciation and income growth. Cactus Flower Apartments presents a compelling value-add opportunity. Current rents are well below market, providing new ownership the ability to significantly improve income through hands on property management, operational efficiencies, and cosmetic interior upgrades. The market is characterized by limited competition for similar vintage product in this desirable location, creating a clear path for rental growth. This offering represents an outstanding opportunity to acquire a well-located asset with current cash flow and future development upside in one of Southwest Florida’s most dynamic and evolving submarkets.