Residential Investment Apartment Building

Multi-Family for Sale
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
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

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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


Photograph of Listing Agent

Cameron Cauley, SIOR MiCP CCA

NAI Pensacola Gulf Coast CMLS Member
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