R.109 -This is a condominium hotel. Owner's use is restricted to 60 days per year. The balance of time it is available for nightly rental to the general public. Current rental incomes are between $26K and $30K with expenses in the $35K to $36K per year range. Rental rates have been on the rise and expect positive cash flows within the foreseeable future. Cash flow was slightly positive Feb 2019. The resort is located at a one of a kind spot right on Naples Bay and a stone’s throw from the ‘Worth Ave’ of SW Florida, 5th Avenue South. This amenity rich resort is situated in an idyllic waterfront setting and features chic waterfront dining and shopping, euro style spa, 4 pools including lap and lazy river style, state of the art fitness and tennis, a 97 slip marina and much more! This two bedroom home enjoys a balcony with a breathtaking view of the basin and marina and an excellent rental history. Shuttle to the beach and shopping areas; rent bikes, standup paddle boards or kayaks. Fully staffed Tennis Center and six lighted Har Tru courts.Stroll the waterfront for Dining and shopping right on site with top notch venues for your enjoyment. $5,000 credit towards closing costs.
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