# 541 Prospect Avenue, Fort Myers, FL 33905

> **TL;DR:** residential multi family, $6,420,000, built 1983.
> A/C. Est. $27,820/mo. Listed 12 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $6,420,000 |
| Year Built | 1983 |
| Lot Size | 159,430 sqft (3.66 acres) |
| Stories | 1 |
| Property Type | Residential Multi Family (Other) |
| Status | For Sale |
| Days on Market | 12 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $27,820 |
| **Total** | **$27,820** |

## Key Amenities

- A/C

## Property Highlights

- Built in 1983
- 3.66 acre lot

## Description

### Agent Description
Prospect & Wood is a stabilized, income-producing 46-unit multifamily property comprising 23 duplexes, each configured as 2 Bedroom / 1 Bath. Built in 1983 and maintained under long-term ownership, the asset offers a current annual gross rental projection of $565,800. At the offered price of $6,420,000, the investment delivers a 5.29% capitalization rate (based on a 40% expense ratio) and $139,565 per door - a competitive entry point in the Fort Myers multifamily market. The property presents compelling rent upside potential of approximately $516,672 in additional annual income should rents reach the Lee County SHIP 2-Bedroom Fair Market Rent (FMR) benchmark of $1,961/month. Applying the FMR with a 38% operating expense ratio and 5% vacancy, the pro forma cap rate recasts to 9.93%. Prospect & Wood is offered as a standalone asset, ideally positioned for yield-focused investors, regional multifamily operators, and 1031 exchange buyers seeking stabilized income with significant upside in the Greater Fort Myers submarket.

## Location

- **Address:** 541 Prospect Avenue, Fort Myers, FL 33905
- **County:** Lee
- **Coordinates:** 26.66801, -81.823985
- **Google Maps:** https://www.google.com/maps?q=26.66801,-81.823985

## Listing Agent

- **Name:** Jacob Mossholder
- **Brokerage:** Premier Agent Network
- **Phone:** 2396996998
- **Email:** jacobmossholder@gmail.com

## Primary Photo

![541 Prospect Avenue - Primary Photo](http://lh.rdcpix.com/7708351481f920b9e88dff520e06e37dl-f2971001982r.jpg)

*2 total photos available on [listing page](https://www.propertysimple.com/listing/541-prospect-avenue-fort-myers-fl-33905-26014902)*

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**MLS#:** 2026014902 | **Updated:** 2026-04-23
**Source:** listhub

*Copyright © 2026 Florida Gulf Coast Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/541-prospect-avenue-fort-myers-fl-33905-26014902)

---

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