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668 S 72nd Ave

Pensacola, FL 32506
  • $495,000
  • STATUS: Active
  • ON SITE: 19 Days
  • MLS #: 608363
Price Reduced
UPDATED: 222 min ago
$495,000
  • 4
    BEDS
  • N/A
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 660
    SQFT
  • $750
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1982
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

The owner will also sell the 4-plex RIGHT across the parking lot ~ 8 UNITS in 1 complex! ** RENT POTENTIAL - $105,000 annual! ********** All units are currently rented but read complete notes for more info * Situated near NAS & Corry Station & just 7-10 mins to Downtown Pensacola, you can't find a nicer 4-plex that will stay rented and provide better income. The overall long-term ROI should be outstanding! ** Brand new roof 2021 * All units have stayed 100% occupied for many years, however, the seller (a Lic Real Estate Broker who manages approx 400 rental units) is removing a couple of the tenants in order to update the units and substantially raise the rents ** He intends to make many updates to the units/complex until it is under contract or will do such for the buyer upon request (and for obviously an increase in price) ***** These updates will raise the value substantially, add desirability, minimize maintenance (thus mitigate long-term repairs) and increase the rental rates. The repairs which will be done are below: ~~~ ~ Asphalt for entire parking lot/driveway - approximately $40k. Providing better parking will add value and INCREASE RENTS. ~ New Hardie Board Siding and Paint to Brick & eaves - TBD - possibly $40k. ~ Renovate 2-3 interiors - $30-40k ** Many of the units have already been reno'd and the roof is almost new ~ Many new a/c's and water heaters as well ~ Agent intends to update list of updates soon **** Please verify all features, dimensions, etc that are important to you!

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© 2022 by the Multiple Listing Service of the Pensacola Association of REALTORS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the Pensacola Association of REALTORS®. Florida recognizes single and transaction agency relationships. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited. Data last updated: 2022-05-25T23:54:30.507.
www.gulfshoresrealestatesearch.com/homes/128465932
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668 S 72nd Ave Pensacola, FL 32506

  • Price: $495,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 222 min ago
  • MLS #: 608363
4
Beds
4
Baths
0
½ Baths
N/A
Acres
660
SQFT
$750
$/SQFT
1982
Built
Neighborhood:
None
County:
Escambia
Area:
Pensacola
Elementary School:
Navy Point
Middle School:
Warrington
High School:
Escambia
Property Description
The owner will also sell the 4-plex RIGHT across the parking lot ~ 8 UNITS in 1 complex! ** RENT POTENTIAL - $105,000 annual! ********** All units are currently rented but read complete notes for more info * Situated near NAS & Corry Station & just 7-10 mins to Downtown Pensacola, you can't find a nicer 4-plex that will stay rented and provide better income. The overall long-term ROI should be outstanding! ** Brand new roof 2021 * All units have stayed 100% occupied for many years, however, the seller (a Lic Real Estate Broker who manages approx 400 rental units) is removing a couple of the tenants in order to update the units and substantially raise the rents ** He intends to make many updates to the units/complex until it is under contract or will do such for the buyer upon request (and for obviously an increase in price) ***** These updates will raise the value substantially, add desirability, minimize maintenance (thus mitigate long-term repairs) and increase the rental rates. The repairs which will be done are below: ~~~ ~ Asphalt for entire parking lot/driveway - approximately $40k. Providing better parking will add value and INCREASE RENTS. ~ New Hardie Board Siding and Paint to Brick & eaves - TBD - possibly $40k. ~ Renovate 2-3 interiors - $30-40k ** Many of the units have already been reno'd and the roof is almost new ~ Many new a/c's and water heaters as well ~ Agent intends to update list of updates soon **** Please verify all features, dimensions, etc that are important to you!
Exterior Features

Carport YN No Construction Materials Brick VeneerWood SidingFrame Exterior Features Balcony Foundation Details Slab Garage YN No Levels One Lot Features Interior Lot Parking Features Parking Lot Pool Features None Roof Shingle

Interior Features

Appliances Electric Water HeaterDishwasherElectric CooktopRefrigerator Cooling Central Air Cooling YN Yes Flooring TileCarpet Heating Central Heating YN Yes Laundry Features Common Area

Property Features

Building Area Total 2625 Electric Copper Wiring Home Warranty YN No Lease Term Month To Month Listing Agreement Exclusive Right To Sell New Construction YN No Possession Rental Agreement Property Condition Resale Property Sub Type Quadruplex Road Responsibility County Maintained Road Sale Rent For Sale Sewer Public Sewer Tenant Pays Electricity Zoning Description Res Multi

Listing provided by Mark Downey & Associates, Inc.: 850-456-6616.


© 2022 by the Multiple Listing Service of the Pensacola Association of REALTORS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the Pensacola Association of REALTORS®. Florida recognizes single and transaction agency relationships. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited. Data last updated: 2022-05-25T23:54:30.507.
 
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