Waterfront Condos at Oasis For Retirement?

Oasis For Retirement

Waterfront Condos still a Bargain in Fort Myers:

a true urban oasis …in a chic, downtown riverfront luxury high rise. Starting, incredibly, in the low $200,000s.

The average price of Oasis Condos is now ( July 20,2015) an amazing $217/sf. The cost to BUILD these, with out land and all the carrying costs is at minimum $255/sf. Add to that the land, engineering, architectural, and finance and marketing costs and you would have to be at least $300/sf. To me this is a strong buy sign, whether you buy for investment, to rent or for retirement.

As a retirement real estate play, I don’t like Oasis Condos unless you are buying to “get on the escalator” of rising prices and are buying it as an asset play.

I do see some decent appreciation coming on these waterfront condos. The condo fees, however, at are about $5o/sf per month, putting Oasis waterfront condos at the higher end of condos fees for a product of this type. Retirees generally look for lower monthly fees – I know I would.
Rents are from $1600 to $1900 a month here and there are generally folks lined up that want to rent.
On the table below you will see what is for sale at the moment, with an average price of $217/sf.

Here is the summary of what it available now at Oasis:

MLS Number

215032812

Price

$214,500

Size

1 Bed/1(1)

Square Feet

882

Price/sf

$243.20

Days For Sale

49

215032806

$215,000

1 Bed/1(1)

882

$243.76

49

215030615

$225,000

1 Bed/1(1)

882

$255.10

63

215003476

$249,900

2 Bed/2(0)

1,310

$190.76

187

215028440

$249,900

2 Bed/2(0)

1,180

$211.78

72

215030314

$255,000

2 Bed/2(0)

1,321

$193.04

66

215032805

$265,000

2 Bed/2(0)

1,341

$197.61

49

215032814

$265,000

2 Bed/2(0)

1,341

$197.61

49

215023451

$269,888

2+Den/2(0)

1,512

$178.50

100

215026132

$279,988

2+Den/2(0)

1,512

$185.18

86

215026313

$299,000

2 Bed/2(0)

1,341

$222.97

82

215027049

$328,900

3 Bed/2(1)

1,646

$199.82

81

215027052

$328,900

3 Bed/2(1)

1,609

$204.41

81

215030931

$339,000

3 Bed/2(1)

1,646

$205.95

60

215035338

$345,000

2 Bed/2(0)

1,512

$228.17

35

215040489

$350,000

3 Bed/2(1)

1,854

$188.78

4

215036972

$419,600

3 Bed/2(1)

1,708

$245.67

6

215032821

$429,000

3 Bed/2(1)

1,862

$230.40

2

215026552

$549,900

3 Bed/2(1)

1,854

$296.60

82

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