|Published:||Mar 13, 2013 5:05 PM EDT|
|Updated:||Mar 13, 2013 6:10 PM EDT|
CAPE CORAL. Fla. - A "yacht-lovers dream home" is for sale. Cape Coral's largest single family home has a price tag in the millions of dollars. The property is located at 5832 Armada Court in the south section of the city.
If you have five million dollars, this house in Cape Coral could be your dream home.
The mansion on the water is a piece of paradise. Broker Ted Stout would know. "This was my dad's dream house," he said.
Will Stout, the developer of Cape Harbor, built the home for himself in 2003. His son says it puts Cape Coral on the map as a luxury destination "If you're affluent and rich and well off you don't want to build a house next to something that's half price, what this house did was establish that there are high end people that like to build in Cape Coral, its sets the market."
The house, advertised as the Crown Jewel of Cape Harbor, is the largest single family home in the city, at more than 18,000 square feet.
It boasts 6 bedrooms, a guest house and caretaker's loft, with space for seven cars, and seven boats: two which can reach 70 feet.
Joe Gaddini bought the house from Will Stout in 2009 and still lives here with his wife and three children.
But he says it's time for someone to use the house to its full entertainment potential. "We have two large homes in North Carolina and we've kind of been going back and forth. We're actually looking to downsize a bit. It is a big house with a lot of amenities we don't really use," Gaddini said.
In the peak times, the home was assessed at almost ten million dollars. Despite that, Stout says selling it at five million will still be a challenge.
"The high end market is still soft, I would say we've recovered from the low-end, $300,000 and less has been very hot, but the high end there's still a lot of inventory," Stout said.
For more information, visit http://www.armadacourt.net/
Those wishing for a private tour will first have to prove their financial stability. Call Ted Stout at 239-313-8020.