Catylist ID:
#30806908
| Catylist Listing ID: | 30806908 |
| Property Subtypes: | Low-Rise/Garden |
| Number of Units: | 10 Units |
| Building Size (RSF): | 8,400 SF |
| Sale Price: | $1,995,000 |
| Unit Price: | $199,500 Per Unit |
| Property Use Type: | Investment |
| Sale Terms: | Cash to Seller, Other |
| Cap Rate: | Undisclosed |
| Average Occupancy Rate: | 100 |
| Last Updated: | 3/19/2023 |
Overview / Comments
|
Fully Leased- Beautiful, Newly Built, Coastal Inspired 10-Unit Apartment Complex for Sale. Very Nicely finished out units. 8,400 SF Multifamily facility (Apartment building) with ten (10) rentable units) Each unit is built out as a 2bedroom 1 bath set up. Nicely Built Out Exterior- featuring Hardy Plank Siding, Dimensional Shingles. Interior Build Out - nicely planned out floor plans with attractive vinyl floors, neutral colors for the interiors- grays and whites for cabinetry/ tile work, upgraded interior doors. Average Cost per door, per month $1,250 - Under market rents provide a value-add opportunity in as little as three months. The market bears $1,395 per month. The owner has informed tenants of an incoming 10% rental increase over their current rent following disposition, New Value Add Opportunity- Owner will sell additional 5.5 AC parcel for added $750,000. The 5.5-acre site has a DO in place for a 50 door Apartment building. |
Attachments & Media
Additional Details
| Nearest MSA: | Crestview-Fort Walton Beach-Destin |
| County: | Okaloosa |
| Tax ID/APN: | 17-3N-23-2490-0101-0010 |
| Zoning: | RESIDENTIAL |
| Percent Occupied: | 100% |
| Property Located Between: | Ferdon Blvd and corner of Amos St. |
| Site Description: | Fully Built out 10-Unit Apartment Complex. |
| Area Description: | Located in the heart of Crestview the property is close to schools, bus lines, shopping and businesses. It is just off of a main travel corridor through Crestview, but the immediate area surrounding the property is well suited residential dwelling. |
| Total Number of Buildings: | 1 |
| Property Condition: | Excellent |
| Number of Stories: | 2 |
| Construction/Siding: | HardiePlank Siding |
| Parking Type: | Surface |
| Laundry: | In Each Unit |
| Heat Type: | Electricity |
| Heat Source: | Central |
| Interior Description: | 2 Bed 1 Bath units are very nicely built out and appointed with vinyl flooring, coastal inspired colors were chosen with light grays and browns- upgraded doors, light gray cabinetry, very nice stainless appliance packages, upgraded countertops |
| Zoning Description: | COM |
| Lot Frontage: | 150 |
| Lot Depth: | 100 |
| Water Service: | Municipal |
| Sewer Type: | Municipal |
| Legal Description: | in file |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 5,747 | 25,116 | 36,327 |
| Median Age: | 32.77 | 34.51 | 35 |
| Households: | 2,089 | 9,309 | 13,339 |
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