South Bay Apartments - Pensacola

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30040716
Property Subtypes: Mid-Rise
Status: Pending/Contingent
Number of Units: 9 Units
Building Size (RSF): 6,720 SF
Gross Land Area: 0.25 SF
Sale Price: $405,000
Unit Price: $45,000 Per Unit
Property Use Type: Investment
Building Name: South Bay Apartments
Usable Size (USF): 6,720 SF
Sale Terms: Cash to Seller
Average Occupancy Rate: 95
Gross Rent Multiplier: 88
Last Updated: 6/7/2017

Overview / Comments

7 Cap- 88 Monthly GRM- Pensacola NAS cash cow. This 9 unit apartment building is perfectly positioned for tenant appeal being located in close proximity to downtown Pensacola, Bayou Chico, NAS Pensacola, entertainment venues, shopping, dining, major traffic routes and more. This investment has experienced historically high occupancy rates. The construction is on grade concrete slab, all brick, public water and sewer, composite shingle roof, concrete exterior second-level covered walkways lending to low maintenance costs. Call today for more information on this great investment.

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Escambia
Taxing Authority: Escambia County
Tax ID/APN: 512S307061011022
Zoning: COM
Percent Occupied: 95%
Property Located Between: South of Barrancas Avenue
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 2
Year Built: 1968
Year Renovated: 2006
Construction/Siding: Brick
Parking Ratio: 1.7 (per 1000 SF)
Parking Type: Surface
Parking Description: Surface parking
Total Parking Spaces: 15
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Lot Frontage: 150
Lot Depth: 70
Water Service: Municipal
Sewer Type: Municipal
Legal Description: E 70 FT OF LTS 1 2 3 BLK 22 1ST ADDN NEW WARRINGTON PB 1 P 30 OR 6871 P 1097 CA 215

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,347 50,421 112,542
Median Age: 38.2 35.22 36.5
Households: 3,646 18,473 42,809


Photograph of Listing Agent

Kenneth Payne



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