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Listed by Tamela Hayes • Coldwell Banker Realty
$ 695,000
Est. payment | /mo
3,322 SqFt
$ 695,000
Est. payment | /mo
3,322 SqFt
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 3,322 sqft
Price per Sqft $209
Subdivision Forest Heights
MLS Listing ID 666663
HOA Y/N No
Year Built 1982
Property Sub-Type Apartment
Source Pensacola MLS
Property Description
Prime Investment Opportunity - Owner financing is available with $500,000 down, a 6.5% interest rate, 30-year amortization, and a 3-year balloon payment. Seize this rare chance to acquire a fully occupied, income-producing multi-family portfolio delivering strong cash flow and outstanding long-term investment potential. Situated in a desirable county location, the property provides potential tax advantages and added flexibility for management and future ownership. This portfolio includes two parcels (816 & 818 Lark St - see MLS #976434) with four single-story duplexes, totaling eight rental units. Seven units offer 2 bedrooms, 1-bathroom, open kitchen and living areas, covered back patios, washer/dryer hookups, and individual central heat and air systems. Dedicated parking, concrete driveways, and enhanced street lighting add to the property's appeal and functionality. Unit 8 at 816 Lark presents an exceptional opportunity for an owner-occupant or investor seeking to offset living expenses with rental income. This spacious unit boasts 3 bedrooms, 3 full bathrooms, a dedicated office/flex room, an attached one-car garage, a large, screened porch, and a private irrigation well for future landscaping. Conveniently located just 2 minutes from Eglin Air Force Base and 5 minutes from Hurlburt Field, this property is also near shopping, dining, beaches, and everyday amenities -- making it highly attractive to both military and civilian tenants. Both parcels are offered together.The current gross rental income is approximately $9,130 per month. Proof of annual property tax and insurance payments will be required during the financing term. This is an outstanding opportunity to acquire a turnkey investment with stable income, flexible financing options, and the added benefit of potential owner-occupancy.
Location
State FL
County Okaloosa
Interior
Heating Central
Exterior
View Y/N No
Roof Type Composition
Building
Lot Description Central Access
Faces From Mary Esther Blvd, Turn left onto N Beal Pkwy, Turn left onto Forest Heights Rd., Turn left onto Lark St. Go for 154 ft to 818 Lark St
New Construction No
Others
Tax ID 261S24095000030040
Nearby Locations
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Tomell Johnson
REALTOR® | Lic# SL3413882