3101 W Mallory St
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3101 W Mallory St
3 Unit Apartment Building $449,000 ($149,667/Unit) 17.14% Cap Rate Pensacola, FL 32505
EXECUTIVE SUMMARY
ATTENTION CASH BUYERS/INVESTORS!!
Opportunity is knocking. This is among the few multi-family properties in the area that were grandfathered in with the current zoning ordinances. This a 6-unit multi-family rehab property with new roofs, windows, and doors. The exterior of the building was also painted. The interior is partially stripped and ready for buyer to complete. All units are 1 bed / 1 bath. Renovated one bedroom rents in the area are about $1200 per month. Located about 10 minutes to Airport and downtown, 20 minutes to Fort Pickens and Pensacola Beach. Formerly rented to soldiers working on the base. The property is currently vacant. All 6 units require substantial interior rehab to make livable. All liens have been paid by seller and the property is free and clear. The community is part of an improvement district that was recently upgraded with underground sewer systems. Located in an “Opportunity Zone” that provides tax incentives for investors. We are happy to co-op with brokers.
All due diligence should be conducted before making an offer. No sight-unseen offers will be considered. No financing contingencies.
Sold AS-IS. Cash preferred. Principal end buyers only. Please no assignments of any kind. We are happy to co-op with brokers.
3101 W MALLORY ST (6 units, Building Sqft 3589, Lot Sqft 19127)
Offered at $449
Est rehab cost $125k
ARV $800k.
ROI = 28.25%
Pro-forma estimates:
GOI - $86,400
NOI - $76,967
Pro-forma cap rate: 17.41%
Call/ Text for showings and offers:
Matthew Stanley PA
The Keyes Company
954-932-8997
954-661-2840
Opportunity is knocking. This is among the few multi-family properties in the area that were grandfathered in with the current zoning ordinances. This a 6-unit multi-family rehab property with new roofs, windows, and doors. The exterior of the building was also painted. The interior is partially stripped and ready for buyer to complete. All units are 1 bed / 1 bath. Renovated one bedroom rents in the area are about $1200 per month. Located about 10 minutes to Airport and downtown, 20 minutes to Fort Pickens and Pensacola Beach. Formerly rented to soldiers working on the base. The property is currently vacant. All 6 units require substantial interior rehab to make livable. All liens have been paid by seller and the property is free and clear. The community is part of an improvement district that was recently upgraded with underground sewer systems. Located in an “Opportunity Zone” that provides tax incentives for investors. We are happy to co-op with brokers.
All due diligence should be conducted before making an offer. No sight-unseen offers will be considered. No financing contingencies.
Sold AS-IS. Cash preferred. Principal end buyers only. Please no assignments of any kind. We are happy to co-op with brokers.
3101 W MALLORY ST (6 units, Building Sqft 3589, Lot Sqft 19127)
Offered at $449
Est rehab cost $125k
ARV $800k.
ROI = 28.25%
Pro-forma estimates:
GOI - $86,400
NOI - $76,967
Pro-forma cap rate: 17.41%
Call/ Text for showings and offers:
Matthew Stanley PA
The Keyes Company
954-932-8997
954-661-2840
PROPERTY FACTS
| Price | $449,000 | Building Class | C |
| Price Per Unit | $149,667 | Lot Size | 0.44 AC |
| Sale Type | Investment | Building Size | 3,589 SF |
| Cap Rate | 17.14% | No. Stories | 1 |
| No. Units | 3 | Year Built | 1971 |
| Property Type | Multifamily | Parking Ratio | 2.79/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $449,000 |
| Price Per Unit | $149,667 |
| Sale Type | Investment |
| Cap Rate | 17.14% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 3,589 SF |
| No. Stories | 1 |
| Year Built | 1971 |
| Parking Ratio | 2.79/1,000 SF |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | 750 |
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PROPERTY TAXES
| Parcel Number | 33-2S-30-1600-080-007 | Improvements Assessment | $151,881 |
| Land Assessment | $21,251 | Total Assessment | $173,132 |
PROPERTY TAXES
Parcel Number
33-2S-30-1600-080-007
Land Assessment
$21,251
Improvements Assessment
$151,881
Total Assessment
$173,132
ZONING
| Zoning Code | MDR (The property is grandfathered in as multi-family.) |
| MDR (The property is grandfathered in as multi-family.) |
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3101 W Mallory St
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