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