PENDING
$360K PRICE DROP
229 Fairweather Ln Fort Myers Beach, FL 33931
Estimated payment $4,914/month
Total Views
6,388
4
Beds
4
Baths
1,840
Sq Ft
$429
Price per Sq Ft
Highlights
- Boat Dock
- Cooling System Mounted In Outer Wall Opening
- Tile Flooring
- Fort Myers Beach Elementary School Rated A-
- Patio
- Ceiling Fan
About This Home
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.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,051
Year Built
- Built in 1965
Lot Details
- 4,443 Sq Ft Lot
- Lot Dimensions are 50 x 96 x 50 x 96
- Rectangular Lot
Home Design
- Quadruplex
- Wood Frame Construction
- Built-Up Roof
- Stucco
Interior Spaces
- 1,840 Sq Ft Home
- 2-Story Property
- Ceiling Fan
- Single Hung Windows
- Tile Flooring
Bedrooms and Bathrooms
- 4 Bedrooms
- 4 Full Bathrooms
Outdoor Features
- Patio
Utilities
- Cooling System Mounted In Outer Wall Opening
- Window Unit Cooling System
- No Heating
- Sewer Assessments
- Cable TV Available
Listing and Financial Details
- Legal Lot and Block 20 / C
- Assessor Parcel Number 19-46-24-W3-0110C.0200
Community Details
Overview
- 4 Units
- Beach Estates Subdivision
Amenities
- Laundry Facilities
Recreation
- Boat Dock
Pet Policy
- Pets Allowed
Building Details
- Operating Expense $3,840
- Net Operating Income $72,960
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/30/2025 09/30/25 | Pending | -- | -- | -- |
| 07/01/2025 07/01/25 | Price Changed | $790,000 | -3.7% | $429 / Sq Ft |
| 06/20/2025 06/20/25 | For Sale | $820,000 | 0.0% | $446 / Sq Ft |
| 06/19/2025 06/19/25 | Off Market | $820,000 | -- | -- |
| 03/24/2025 03/24/25 | Price Changed | $820,000 | -3.5% | $446 / Sq Ft |
| 01/01/2025 01/01/25 | Price Changed | $850,000 | -5.6% | $462 / Sq Ft |
| 11/20/2024 11/20/24 | Pending | -- | -- | -- |
| 11/19/2024 11/19/24 | For Sale | $900,000 | 0.0% | $489 / Sq Ft |
| 10/25/2024 10/25/24 | Pending | -- | -- | -- |
| 10/19/2024 10/19/24 | Price Changed | $900,000 | 0.0% | $489 / Sq Ft |
| 10/19/2024 10/19/24 | For Sale | $900,000 | -9.1% | $489 / Sq Ft |
| 08/26/2024 08/26/24 | Price Changed | $990,000 | -10.0% | $538 / Sq Ft |
| 07/23/2024 07/23/24 | Price Changed | $1,100,000 | -4.3% | $598 / Sq Ft |
| 06/19/2024 06/19/24 | For Sale | $1,150,000 | +161.4% | $625 / Sq Ft |
| 02/27/2015 02/27/15 | Sold | $440,000 | -8.1% | $240 / Sq Ft |
| 01/28/2015 01/28/15 | Pending | -- | -- | -- |
| 01/21/2015 01/21/15 | For Sale | $479,000 | -- | $261 / Sq Ft |
Source: Florida Gulf Coast Multiple Listing Service
About the Listing Agent
Carol's Other Listings
Source: Florida Gulf Coast Multiple Listing Service
MLS Number: 224051861
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