Multi-Family 100%-Leased Investment Property

Multi-Family for Sale
Catylist Listing ID: 30443979
Property Subtypes: Duplex/Fourplex
Number of Units: 4 Units
Building Size (RSF): 5,511 SF
Gross Building Area: See Agent
Gross Land Area: 0.48 Acres
Sale Price: $665,280
Unit Price: $166,320 Per Unit
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: 6.07%
Vacation Rental Income: Yes
Last Updated: 12/13/2019

Overview / Comments

Excellent, 100% leased multi-family investment property located in the heart of Navarre, Florida. The multi-family property consists of 3 buildings comprised of 4 lease-able units which are all currently leased for the next year. The property is an excellent source of passive income for an investor with multiple streams of income and limited Landlord responsibilities. The vacancy rate continues to compress within the Pensacola MSA, allowing landlords to aggressively push rents throughout the market. The trend is expected to continue as the demand for multifamily remains strong and with very limited new developments planned. The Pensacola and Navarre markets are best known for having miles of the nations most beautiful, white sand beaches and large government/military presence. Top-rated schools, quality health care, and a stable economy make Navarre a great location to not only visit, but also call home.

The property consists of the following Structure Type(s) & Addresses:
DUPLEX UNIT: 8517 LAREDO ST Navarre
DUPLEX UNIT: 8519 LAREDO ST Navarre
SINGLE FAMILY: 8521 LAREDO ST Navarre
SINGLE FAMILY: 8523 LAREDO ST Navarre

Additional Details

Nearest MSA: Pensacola-Ferry Pass-Brent
County: Santa Rosa
Tax ID/APN: 21-2S-26-2740-00900-0110
Zoning: R2M
Percent Occupied: 100%
Area Description: Population continues to increase along with the demand for vacation destinations and condominium units. The current population in Santa Rosa County has grown by 19% in the last decade making it one of the fastest-growing counties in the US. This region is widely known as a family-friendly vacation destination ideal for weekend getaways or a place to spend an entire season. Year after year, the Santa Rosa Island beaches are ranked as some of the best beaches in the nation. USA Today ranked Navarre Beach as one of the top 5 Florida beaches in 2018 and there are an estimated 4.5 million people that visit the Emerald Coast annually.
Total Number of Buildings: 3
Property Condition: Excellent
Number of Stories: 2
Year Built: 2010
Roof Type: Gable
Construction/Siding: HardiePlank Siding
Lot Frontage: 90
Lot Depth: 233

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,484 21,773 28,525
Median Age: 35.56 35.56 36.09
Households: 544 8,235 10,726
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