Updated 7 months ago on . Most recent reply
9.75% cap rate | 14.5% cash on cash
12-unit apartment building
Cash flowing, 12-unit C-Class property for sale in a rapidly growing area located in Pensacola, FL
All units are 2 bedroom/2 bathroom and are 100% leased. Capital improvements include the full renovation of 5 units and the replacement of 40% of the HVAC units. There's a value-add opportunity through raising rents $100-$225 as well as completing renovations on the remaining units.
Price: $1,320,000
As-Is Value: $1,550,000-$1,932,000
Upgraded and Repositioned Value: $1,715,000-$2,140,000
This is a rare opportunity to acquire a value-add, multifamily property at an excellent price per door, in a growing market.
Please message me if you have interest and would like additional information.