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.
Contingent financing
Price cut: $30K (7/1)
$790,000
229 Fairweather Ln, Fort Myers Beach, FL 33931
4beds
1,840sqft
Est.:
Quadruplex, Multi Family
Built in 1965
-- sqft lot
$-- Zestimate®
$429/sqft
$-- HOA
What's special
- 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#: 224051861
Originating 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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