Duplex lots in Lehigh Acres

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Double up on rental income

Pop quiz: What do taxes, traffic, 200+ days of sunshine and duplex rental income have in common?

Answer: Sure things in SW Florida.

A duplex is a two unit home that can be used in a split manner with one of the units serving as the primary residence and other as a rental property or as an investment property with two rental units.

While the CAP rates may not be reach lofty levels that we experienced prior to the last couple of years of land pricing increases, duplex properties are still paying off for many investors. Resale activity is stronger in this sector than single family construction with a pending to active ratio just under 20 percent.

The typical configuration here in SW Florida is a single-story side-by-side layout with each unit containing two or three bedrooms, two baths and approximately 1200 sq. ft. of living space. These structures are constructed on over-sized lots usually 100 ft by 125 ft and zoned RM-2. Currently gross monthly rents for duplex buildings are ranging from $1600 to $2000.

There are many lot options available today for a perspective investor. Three Lehigh Acres duplex lot options options currently on the market are: 920/22 Homestead Rd S for $53,000; 4633/35 24th St SW for $57,000 and 4728/30 27th St SW for $57,000. Please contact me if you are interested in exploring duplex options in SW Florida.

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5 comments

  1. Posted by Mark Washburn, at Reply

    As there have been several inquiries about current duplex construction costs in Lehigh, here are some rough estimates. Budget $100 sq ft to $115 sq ft + lot for duplex construction in Lehigh. This would be for very basic 1100-1200 sq ft units. Advantage builders has a 2400 sq ft duplex model they are building right now for 223.9K(+12K septic +5K site prep). JCE Builders has a 2204 sq ft duplex model for 244.9K. JCE figures do include allowances for fill and site prep, which are sometimes a little tight depending on the lot. Construction intervals are running 12-14 months right now.

  2. Posted by Anonymous, at Reply

    Does rm-2 zoning allow for duplexes in Lehigh?
    Is two units the max?

  3. Posted by Mark Washburn, at Reply

    Yes RM-2 allows for duplex construction in Lehigh.

    There are property usage codes that dictate whether the RM-2 parcel is zoned for duplex or higher density. The duplex designation is Multi_SF and the higher density designation is Multi_MF. Usage is a searchable field in the Ft. Myers MLS system under the “additional criteria” tab.

  4. Posted by leon, at Reply

    Can I build a triplex in Ft. Myers area? What permit would I need? What would be best areas to build a triplex or duplex? Thanks.

  5. Posted by Mark Washburn, at Reply

    Just curious, why would you elect to build right now when you can acquire an already built duplex for a price well below replacement cost?