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$749,000

For Sale - Active
6770 Pelican Bay Blvd Apt 225, Naples, FL 34108
2 Beds
2 Baths
1,436 Square Feet
0.00 Acres Lot
Built in 1991
For Sale - Active
96 Units
Checked: 6 hours ago
Updated: May 30, 2025 at 09:09AM

Investment Summary


Monthly Cash Flow
-$1,823
Cap Rate
3.4%
Cash-on-Cash Return
-12.7%
Debt Coverage Ratio
0.54
Internal Rate of Return (5 years)
-8.3%

Property Description


0.00 Acres Lot
Built in 1991
For Sale - Active
96 Units

THE BEACH IS CALLING! Paradise awaits in this lovely 2-bedroom/2-bath end-unit condominium in Pelican Bay's sought after Interlachen neighborhood. The unique Frank Lloyd Wright architecture makes this subdivision a standout in the community, and its premium location affords easy and convenient access to two tram stations for the beach lovers in the family. Light and bright, this split bedroom, open concept floor plan was thoughtfully designed, and is comprised of nearly 1500SF of air conditioned living area, has a dry-bar for entertaining, generous closet/storage space, enjoys a glass-enclosed lanai, is available turnkey-furnished, and has one assigned car-port space. All of this plus the acclaimed world-class amenities of Pelican Bay: two private beach clubs with attendants, dining and cocktails, fitness center, multiple racquet pavilions (pickleball coming soon!), kayaks, canoes, miles of biking/jogging/walking paths, spa and wellness center, and centrally located to all Naples has to offer! WELCOME HOME!

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Location


Property Details


Parking

  • Description: 1 Assigned, Covered, Guest
  • Details: Assigned, Covered, Detached Carport
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 6
  • # of Stories: 1

Exterior Features

  • Roof Material: Built-Up, Flat

HOA

  • Has HOA: Yes
  • HOA Fee: $2,675/annually
  • Additional HOA Fee: $1,742/quarterly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 51707000200
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Other, Mid Rise
  • Year Built: 1991

Tax Information

  • Annual Tax: $7,395

Utilities

  • Water & Sewer: Public
  • Heating: Central, Electric
  • Cooling: Central Air, Ceiling Fan(s), Electric

Location

  • County: Collier

Listing Details


Listed by:
Kimberly Columbia
Equity Realty
(239) 404-5324

Source:
Florida Gulf Coast Multiple Listing Service
MLS#: 225047674
Florida Gulf Coast Multiple Listing Service

Investment Summary


Monthly Cash Flow
-$1,823
Cap Rate
3.4%
Cash-on-Cash Return
-12.7%
Debt Coverage Ratio
0.54
Internal Rate of Return (5 years)
-8.3%

Purchase Details

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Purchase price:
$749,000
Amount financed:
-$599,200
Down payment:
$149,800
Closing costs:
$22,470
Rehab costs:
$0
Initial cash invested:
$172,270
Square feet:
1,436
Cost per square foot:
$522
Monthly rent per square foot:
$3.55

Financing Details

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Loan amount:
$599,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.840%
Principal & interest:
$3,922
Property tax:
$616
Insurance:
$357
Private mortgage insurance (PMI):
$0
Monthly payment:
$4,895

Operating Income

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% Rent Monthly Yearly
Gross rent:
$5,100 $61,200
Vacancy loss: (6%)
6% -$306 -$3,672
Operating income:
$4,794 $57,528

Operating Expenses


% Rent Monthly Yearly
Property taxes: (12%)
12%-$616-$7,395
Insurance: (7%)
7%-$357-$4,284
Property management: (8%)
8%-$408-$4,896
Repairs & maintenance: (5%)
5%-$255-$3,060
Capital expenditures: (5%)
5%-$255-$3,060
HOA fees: (16%)
16%-$804-$9,648
Total operating expenses: (53%)
53%-$2,695-$32,343

Cash Flow


Monthly Yearly
Net operating income:
$2,099 $25,188
Mortgage payments:
-$3,922 -$47,064
Cash flow:
$1,823 $21,876