I just recently sold a quadraplex in North Pensacola for $55,560! Four units, 2 bedroom 1 bath with fireplaces with market rents between $550- $575. Owner pays water/ sewer/ trash and lawn maintenance. Great deal, here's what my buyer had to say the day he closed on his quad!
Here are a few great deals on Multi-family properties in the area! Our company manages over 650 rentals for local and absentee property owners with many multi-family properties. Our vacancy rate is less than 5% in the Pensacola area right now! Commercial properties (including multi-family) should be one of the best opportunities for purchase in 2011.
http://www.escpa.org/cama/Detail_a.aspx?s=143S321031000001 These properties are waterfront and would be great rentals for NAS members or even short term rentals during the Spring & Summer season if they were furnished!
Multiple duplexes in North Pensacola near Pensacola State Collge, Hospitals, Airport, Cordova Mall, and convenient to University of West Florida under $100,000!
6281 Ridgegate Circle- duplex brick off Langley Ave, reduced to $90,000.
1395 Pinnacle Drive- Short sale off Langley Ave for $90,000
8067 Ira Drive, Pensacola, FL 32514- short sale for $91,000 FOUR PLEX!
2592 St Anne drive off Airport Rd- Both units rented $495 each, listed for sale $95,000.
5085 Yacht Harbor Circle- brick duplex located off Olive Rd. $97,900. Both units vacant but recently rented for $600.
4969 Yacht Harbor Circle- brick duplex, occupied with renters paying $550. Available for purchase $99,000.
600 E Gadsden Street- located in downtown Pensacola area! Both units vacant, but have a lot higher rental potential because of location and historic charm. Built in 1908 and offered for sale at $99,900.
There are over 100 multi family properties offered for purchase, with a lot being short sales projected to become foreclosures in the next year. Once these properties are foreclosed, typically, the tenants are asked to vacate, and the properties are listed WAY below market value! The commercial bubble took a little longer to bust, but now the bad investments of 2006- 2007 are being foreclosed.
In the last 6 months in the Pensacola area, over 35 multi family properties have sold! Prices range from $12,000!! to $278,000. 7 quads have been sold in the last 6 months ranging from $125,000 in Gulf Breeze to $55,650 (My buyer Justin above). Four of the seven were sold by my broker (and mother!) Pam Keen, which makes our company the leader in quad sales in the last year!
Let our expertise on the local rental market work for you! Please feel free to email us Pam@PensacolaRealtyMasters.com and Nicoles@pensacolarealtymasters.com with your questions! Feel free to call our broken Pam Keen at (850) 232-2200.
Thanks and have a great day,
Nicole St. Aubin, Realtor
Realty Masters of FL
4400 Bayou Blvd. #58B, Pensacola, FL 32503
(850) 473 3983 phone
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