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Contingent financing
  • Price cut: $30K (7/1)
    $790,000

    229 Fairweather Ln, Fort Myers Beach, FL 33931

    4beds
    1,840sqft
    : 
    Quadruplex, Multi Family
    Built in 1965
    -- sqft lot
    $-- Zestimate®
    $429/sqft
    $-- HOA

    What's special

    This quadraplex has a productive history as a vacation rental and also as a long term rental investment. It is located in a weekly rental zone enhancing the investment opportunities. It has 4 recently renovated one-bedroom, one-bath units each with a full kitchen and a living and dining area. Recent renovations include 4 totally new bathrooms, 2 new kitchens and a new roof in 2017. The roof was unaffected by Ian as it was built with additional anchors at every foot to keep the structure secure. The hot water heaters are new and the first floor units have new wiring and plumbing. Floors throughout the 4 units are attractive ceramic tile. There is one parking space assigned for each apartment. The building also offers a common washer and dryer and a peaceful patio in a tropical backyard setting. The location is ideal! It is a short leisurely walk to the beach. A beach access point is conveniently located approximately one block from the property. Access to Fort Myers Beach is open year-round from sunrise until past sunset. Guests will enjoy walking to Times Square and visiting a variety of shops and restaurants and a fishing pier. This property has a steady history of guests who have enjoyed fishing from the nearby pier or boating along the Gulf and stopping to dine at all the popular seafood restaurants. There are also parks in close proximity and many opportunities to travel to Sanibel and Captiva or take the jet powered catamarans from Fort Myers Beach to beautiful Key West. As a vacation rental the gross rent was $90,000 to $100,000 per year minus expenses for tourist tax and cleaning. The current income is from long term rentals with stable leases of $1600 monthly for each of the 4 units. There is a $76,800 per year long term rental income. All 4 tenants would like to stay. If you are an investor looking for a steady income either as a long term or vacation rental asset this is the place for you. If you love the beach and all it has to offer, consider using one of the units for yourself and renting out the others for a steady and reliable profit. The first floor unit on the right will be available for initial tours. Once there is continued interest the others will be available. The two first floor units sustained some drywall damage from Milton. The affected drywall was removed the next day and has been replaced.
    415 days
    on Zillow
    |
    208
    |
    12
    |

    Zillow last checked: 7 hours ago

    Listing updated: August 01, 2025 at 04:00pm

    Listed by:

    Carol Hilleary 239-464-1944,

    Sellstate Priority Realty

    Source: Florida Gulf Coast MLS,MLS#: 224051861MLS LogoOriginating MLS: Florida Gulf Coast
    Travel times

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 4
    • Bathrooms: 4
    • Full bathrooms: 4
    Heating
    • None
    Cooling
    • Ceiling Fan(s), Window Unit(s), Wall Unit(s)
    Appliances
    • Laundry: Common Area
    Features
    • Flooring: Tile
    • Windows: Single Hung
    Interior area
    • Total structure area: 1,840
    • Total interior livable area: 1,840 sqft

    Property

    Features
    • Levels: Two
    • Stories: 2
    • Patio & porch: Patio
    • Exterior features: Patio
    • Waterfront features: None
    Lot
    • Size: 4,443.12 Square Feet
    • Dimensions: 50 x 96 x 50 x 96
    • Features: Rectangular Lot
    Details
    • Parcel number: 194624W30110C.0200
    • Lease amount: $0
    • Zoning description: RM-2

    Construction

    Type & style
    • Home type: MultiFamily
    • Architectural style: Two Story
    • Property subtype: Quadruplex, Multi Family
    Materials
    • Stucco, Wood Frame
    • Roof: Built-Up,Flat
    Condition
    • Resale
    • Year built: 1965

    Utilities & green energy

    • Sewer: Assessment Paid, Public Sewer
    • Water: Assessment Paid, Public
    • Utilities for property: Cable Available

    Community & HOA

    Community
    • Features: Boat Facilities, Non-Gated
    • Subdivision: BEACH ESTATES
    HOA
    • Has HOA: Yes
    • Amenities included: Laundry
    • Membership fee: $0
    Location
    • Region: Fort Myers Beach

    Financial & listing details

    • Price per square foot: $429/sqft
    • Tax assessed value: $507,308
    • Annual tax amount: $7,051
    • Date on market: 6/19/2024
    • Listing terms: All Financing Considered,Cash
    • Tenant pays: Application Fee, Credit Check, Cable TV, Electricity, Internet
    • Road surface type: Paved
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