Unpriced Naples rental complex listed for sale

Unpriced Naples rental complex listed for sale

Saturday, January 14, 2017

Naples 701 at 3531 Plantation Way in Naples

The owner of a garden-style rental apartment complex in Naples hired commercial brokerage Cushman & Wakefield to market the 188-unit property without an asking price.

The rental complex, called Naples 701, is 97 percent occupied and generates an average market rent of $883, or $1.91 per square foot.

Cushman & Wakefield said in a press release that Naples 701 almost became a condominium conversion before Preston Giuliano reassembled the units, reverted the property back to an apartment community and collapsed the homeowners association there in March 2016.

Naples 701 is located on an 11.8-acre site at 3531 Plantation Way in Naples.

Among the interior finishes of the units are granite counter tops and plank-style vinyl flooring. The amenity package includes two resort-style pools, a tennis court, 24-hour fitness center, dog park and picnic areas.


Source: The Real Deal