Duplex Project - Fort Myers, FL - 7 Duplexes - 3411 Broadway

[Troy Maleyko]

Hi - I am looking for ground up financing on a property I own in Fort Myers on 1.91 acres.  I currently have a site plan, rough drawings & have architects, contractors & planners working through this process.  We are ready finalize the plans & start permitting.  The plans / zoning allows for 7 duplexes without any variances from Lee County.  We have a full scope of work proposal with budget numbers put together & the team is ready to start.  We currently own the property & is being used as a mobile home park with a single family house.  I plan on demolishing & doing ground up construction, with common areas including garden beds, light workout area & gathering space .  The property will be rented out a mix of short, mid & long term rentals.  The proximity to hospitals , downtown fort myers & military presence makes it the ideal location.  Our long term exit strategy will be to eventually sell some of the units as the market recovers .  Each duplex is on its own plat (7 total).  We are looking for $3.6million which would take out the existing mortgage on the property of $535k.