8 Gipson Pl, Fort Walton Beach, FL

Multi-Family for Sale
Catylist Listing ID: 30871623
Property Subtypes: Mixed Use
Number of Units: 8 Units
Building Size (RSF): 3,132 SF
Gross Building Area: 3,525 SF
Gross Land Area: 0.11 Acres
Sale Price: $1,190,000
Unit Price: $148,750 Per Unit
Property Use Type: Investment, Business
Building Name: Seaside Escape
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/20/2024

Overview / Comments

Check out this rare opportunity in Ft. Walton Beach to own an 8 unit multi-family property penciling currently at a strong 12% cap rate, just under one mile from the coast. Seaside Escape comprises 8 individual units, each fully furnished for short-term rental guests with a strong PNL and . The property was recently renovated in 2022 including new roof, electrical, HVAC, plumbing, windows, doors, trim, flooring, and all new furnishings. This place has everything you need to start your journey as a short-term rental owner or would make a great addition to an existing portfolio. Each unit is set up as a 1 BR / 1 BA efficiency with a living area, queen bed, closet, kitchenette and bathroom & a dedicated workspace. Property is centrally located only a few blocks from downtown, minutes to the Gulf of Mexico, and in close proximity to local attractions like Gulfarium Marine Adventure Park, and Okaloosa Island Pier. Close to Eglin AFB and in the heart of the fast growing Emerald Coast, this opportunity to own a turn-key rental is a must see!

Additional Details

Nearest MSA: Crestview-Fort Walton Beach-Destin
County: Okaloosa
Tax ID/APN: 13-2S-24-2030-0002-00I0
Property Located Between: North of Hwy 98 & SE of Hwy 189
Highway Access: 5 blocks north of Hwy 98
Airports: VPS or ECP
Site Description: 8 unit 1 BR / 1 BA complex with on-site parking and shared laundry.
Area Description: 7 minutes to beach, within walking distance to restaurants, close to Okaloosa Island, Downtown FWB, Eglin AFB, and the Bay yet outside of the tourist trap and hustle.
Total Number of Buildings: 1
Property Condition: Good
Number of Stories: 1
Year Built: 1948
Year Renovated: 2022
Construction/Siding: Block
Parking Type: Surface
Parking Description: On site in front of building
Total Parking Spaces: 9
Laundry: Shared
Fuel: Electric
Internet Access: Cable, Fiber Optic
Zoning Description: COMM GEN
Lot Frontage: 50
Lot Depth: 100
Water Service: Municipal
Sewer Type: Municipal
Legal Description: PINEGROVE S/D E 100FT OF LOT I BLK 2

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,075 50,041 65,566
Median Age: 41.9 39.29 39.06
Households: 4,032 21,914 28,011


Photograph of Listing Agent

Crystal Ball

Anchor Realty Florida Gulf Coast CMLS Member
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