| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Poor |
| Demographics | 27th | Poor |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3541 Evans Ave, Fort Myers, FL, 33901, US |
| Region / Metro | Fort Myers |
| Year of Construction | 1973 |
| Units | 120 |
| Transaction Date | 2005-06-17 |
| Transaction Price | $5,200,000 |
| Buyer | SUNTERRA APARTMENTS LLC |
| Seller | SC INVESTMENTS LLC |
3541 Evans Ave, Fort Myers Multifamily Investment Opportunity
Neighborhood renter concentration supports a consistent tenant base, while current area occupancy trends suggest disciplined lease management, according to WDSuite’s CRE market data.
Positioned in Fort Myers’ inner-suburban fabric, the property benefits from everyday convenience drivers that matter to renters: strong grocery and pharmacy access and a dense dining corridor. The neighborhood ranks near the top among 211 Cape Coral–Fort Myers neighborhoods for grocery and pharmacy proximity, and its restaurant density places it in the top tier nationally—factors that typically aid leasing velocity and retention for workforce-oriented assets.
The area’s renter-occupied share is elevated, indicating a deeper pool of prospective tenants and reinforcing demand for multifamily. By contrast, neighborhood apartment occupancy sits below metro and national norms, pointing to greater competition and the need for targeted leasing operations. Taken together, investors should underwrite to steady inquiry volume but emphasize marketing differentiation and renewal strategies to sustain occupancy.
Within a 3-mile radius, recent household and population growth, plus forecasts calling for further increases and slightly smaller household sizes, indicate a larger tenant base and more renters entering the market over time. This forward demand backdrop can help stabilize occupancy and support measured rent growth when paired with pragmatic concessions and resident retention practices.
Median home values in the neighborhood are lower than many metro peers, which can introduce some competition from entry-level ownership. For multifamily, this calls for a clear value proposition—well-maintained units, functional amenities, and service reliability—to sustain pricing power and reduce turnover. The property’s 1973 vintage is older than the neighborhood average build year, creating value-add and capital planning opportunities that can enhance unit quality relative to competing stock.
Safety indicators are mixed in relative terms. Compared with neighborhoods nationwide, the area scores in the upper range for overall safety, while recent data shows a marked year-over-year improvement in violent incident rates—signals that support resident appeal and leasing stability. At the same time, within the Cape Coral–Fort Myers metro (211 neighborhoods), the neighborhood’s crime rank sits on the higher-incident side, underscoring the importance of visible on-site management and lighting, access control, and community engagement to support resident comfort.
Regional employment is supported by corporate services and travel-related businesses that expand the commuter shed and underpin renter demand. Notable nearby employer:
- Hertz Global Holdings — car rental HQ (13.6 miles) — HQ
This 1973, 120-unit asset offers a value-add path in a renter-heavy neighborhood with strong daily-needs access and sustained demand drivers. According to WDSuite’s commercial real estate analysis, neighborhood occupancy trends trail broader benchmarks, so performance hinges on execution: targeted renovations, competitive finishes, and active renewal management to capture the depth of the tenant pool.
Three-mile demographics point to population growth, a rising household count, and a gradual shift toward smaller households—factors that expand the renter pool and can support occupancy stability. Lower neighborhood home values may present ownership alternatives, but curated upgrades and reliable operations can differentiate the asset and preserve pricing discipline over time.
- Renter-heavy neighborhood supports deep tenant base and ongoing leasing activity.
- Daily-needs proximity (grocery, pharmacy, restaurants) aids retention and renewal rates.
- 1973 vintage presents clear value-add and capital planning opportunities to outcompete older stock.
- 3-mile population and household growth broaden the renter pool, supporting occupancy over the hold.
- Risks: below-metro neighborhood occupancy and more accessible ownership options require sharp pricing, marketing, and renewal strategies.