Lake Pointe Condos 1440 Wildwood Lakes Blvd

The Hull Multifamily Advisors (HMA) are pleased to present the exclusive offering of the Lake Pointe Condos in Naples, FL. This offering consists of 29 condominium units inside a 32-unit condominium complex, in which current ownership controls all 3 seats on the association board. All 29 units are 2 bed 2 bath units averaging 936 SF, with each unit boasting separately metered tenant paid electricity and water, in unit washers and dryers, individual lanais, and individual electric HVAC systems. Current ownership has fully renovated 25 out of the 29 units with new kitchens, bathrooms, and lighting, with all but 1 unit having granite/quartz countertops and stainless-steel appliances. In addition to these interior upgrades, the Lake Pointe Condos recently added individual water meters to all 32 units in 2024, new roofs in 2018, and a recently resurfaced parking lot.

At the time of listing, Lake Pointe boasted a 96.5% occupancy rate with new renovated units successfully leasing approximately $150-
$200 more than most of the current rent roll. A new owner could easily increase the remaining units to market as leases expire, with minimal turnover costs since 25/29 units are already fully renovated. Another value-add opportunity would be for an investor to convert Lake Pointe from a condo complex into an apartment complex. Current ownership owns 29 out of 32 units in the condo association and has full control over the association, in which a new owner could attempt to acquire the remaining units and convert this asset to a normal apartment complex. De-converting Lake Pointe would not only get rid of the association and association dues but could also substantially lower property taxes and insurance expenses if operated as a normal apartment complex. Please contact HMA before this trophy asset is gone.