| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 43rd | Fair |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1901 Linhart Ave, Fort Myers, FL, 33901, US |
| Region / Metro | Fort Myers |
| Year of Construction | 1985 |
| Units | 36 |
| Transaction Date | 2012-05-30 |
| Transaction Price | $400,100 |
| Buyer | WATERSTONE CAPITAL LLC |
| Seller | LATELL CROIX APARTMENTS LTD |
1901 Linhart Ave, Fort Myers Multifamily Investment
Newer-than-area vintage and an expanding 3-mile renter pool point to durable demand, according to WDSuite's CRE market data, while elevated ownership costs in Lee County support sustained reliance on rentals.
Located in a suburban pocket of Fort Myers, the neighborhood shows leasing fundamentals that are competitive among Cape Coral-Fort Myers neighborhoods (ranked 66 out of 211 for occupancy). Parks access stands out at a top-quartile national level, while restaurants are present but everyday retail (grocery, pharmacy, childcare) is sparse within the immediate area - a consideration for resident convenience and retention strategies.
The property's 1985 construction is newer than the neighborhood's average 1966 vintage, which can provide a relative edge versus older stock, though investors should still anticipate periodic systems updates or modernization to meet current renter expectations. Neighborhood-level NOI per unit sits in the top quartile nationally, based on CRE market data from WDSuite, indicating potential for consistent revenue performance relative to peer areas.
Renter concentration within the neighborhood is modest (24.2% of housing units are renter-occupied), suggesting a thinner immediate tenant base; however, demand broadens meaningfully at the 3-mile radius, where 57.6% of housing units are renter-occupied. This wider catchment can support occupancy stability for a 36-unit asset when marketing taps into nearby employment corridors and commute patterns.
Three-mile demographics are favorable for multifamily: population grew over the last five years and is projected to continue increasing, with households also expected to rise through the forecast period. Rising median incomes across the 3-mile area expand the paying tenant base, while elevated neighborhood-level home values reinforce renter reliance on multifamily housing. School ratings in the neighborhood are modest relative to national benchmarks, which may temper appeal to some family renters, but the broader growth backdrop supports steady renter demand.
Neighborhood safety indicators compare favorably: overall crime sits above the national average for safety (69th percentile nationally), with violent offenses in a notably strong position (around the 91st percentile for safety). Within the Cape Coral-Fort Myers metro, these signals translate to a comparatively stable environment for leasing.
Recent trends show improvement in violent offenses year over year, while property offenses have seen a short-term uptick. Investors should monitor these mixed trends as part of ongoing asset management, focusing on standard measures such as lighting, access control, and resident engagement to support retention and pricing power.
Regional employment is anchored by corporate services reachable within a commutable drive, supporting a broad renter base and leasing stability. Notably, the list below highlights a nearby headquarters in the area.
- Hertz Global Holdings — corporate offices (14.8 miles) — HQ
This 36-unit asset at 1901 Linhart Ave benefits from a newer-than-area vintage (1985 vs. a neighborhood average from the 1960s), offering competitive positioning versus older local stock while leaving room for targeted modernization to lift rents and reduce downtime. Broader 3-mile fundamentals - population growth, an increasing household count, and a majority renter-occupied housing mix - point to a larger tenant base that can support occupancy stability and measured rent growth. Elevated neighborhood home values favor sustained renter demand, and neighborhood NOI per unit trends are strong relative to national benchmarks, according to CRE market data from WDSuite.
Risks to underwrite include thin daily-needs retail in the immediate neighborhood, modest local school ratings, and a recent uptick in property offenses despite improving violent-offense trends. Balancing these with the area's expanding renter pool, income growth within 3 miles, and the property's relative vintage advantage can support a durable, operations-focused business plan.
- Newer-than-area vintage (1985) supports competitive positioning versus older local stock.
- Expanding 3-mile population and households indicate a larger tenant base and occupancy stability.
- Elevated ownership costs in the neighborhood reinforce sustained demand for rentals.
- Neighborhood NOI per unit trends rank in the national top quartile, signaling earnings potential.
- Risks: limited immediate retail, modest school ratings, and monitoring needed for property offense trends.