Wild Pines of Naples

-200-Unit Rare Value-Add Opportunity in the Core of Naples, FL
-Desirable Two-Story Concrete Block Construction and Pitched Roofs
-Extremely Affluent, High Barrier to Entry Submarket with Virtually no Inventory of Workforce Housing. Great Demos with $156,576+ Avg. HHI in a 3-Mile Radius of the Property
-Phase I, 96 Total Units– 80 Units Built in 1986, and 16 Units Built in the 1970’s (Rebuilt in 2018/2024)
-Phase II, 104 Affordable Units Built in 2001. Restrictions Through 2031 (~7 years Remaining), Unlocking Significant Value when Property Becomes Full Market Rate
-Value-Add Opportunities on the Market Rate Phase
-Mark-to-Market: Great mark-to-market opportunity with submarket comp set supporting additional ~$200+ in rental upside
-Development Potential: Small parcel of land included in the sale that you could build 6-12 more units on
-Opportunity to expand on existing amenity set with grilling areas, soccer filed, gazebo’s, pet park, etc.
-Accretive Loan Assumption with 3.44% Fixed, Interest Only Rate for 6 Additional Years
-Amenities Include 2 Sparkling Pools, 2 Laundry Rooms, Leasing Office & Business Center, Gym, 23 Garages and Picnic Areas
-Naples Ranked 6th Best Place to Live in the U.S. (2023 – 2024 U.S. News)
-Great Location 6-Minutes from Downtown Naples
-10-minutes from Naples Beach, Naples Pier, and Third Street South Retail Strip which Includes Shops, Renowned Fine Restaurants and Bistros, the Courtyards, and Antique Fountains

Property Description

Wild Pines of Naples is a premier 200-unit apartment community situated in the heart of Naples, FL, offering a rare value-add investment opportunity in a highly coveted market. This property features desirable two-story concrete block construction with pitched roofs, providing durability and timeless appeal. Located in an affluent submarket with an average household income of over $156,576 within a 3-mile radius, Wild Pines is positioned in an area with minimal inventory of workforce housing, highlighting its exceptional investment potential. The community is divided into two phases: Phase I consists of 96 units, with 80 built in 1986 and 16 rebuilt in 2018/2024, while Phase II includes 104 affordable units constructed in 2001 with restrictions through 2031, unlocking significant value once these units convert to market rates. Investors will appreciate the substantial value-add opportunities available, including a favorable mark-to-market potential supported by local submarket comps, which indicate a rental upside of approximately $200+ per unit. Additionally, the property includes a small parcel of land ideal for expanding the unit count by 6-12 more units or enhancing existing amenities such as grilling areas, a soccer field, and a pet park. Just 6 minutes from Downtown Naples and 10 minutes from Naples Beach and Third Street South, Wild Pines presents a compelling investment in a highly sought-after location.