6631 Magnolia St, Milton, FL 32570
6631 Magnolia St, Milton, FL 32570
6631 Magnolia St, Milton, FL 32570
6631 Magnolia St, Milton, FL 32570
6631 Magnolia St, Milton, FL 32570
6631 Magnolia St, Milton, FL 32570
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Kevin & LeaAnn Wade

Kevin & LeaAnn Wade

+1(904) 254-4069
Listed by Jennifer Amberg • Palm Island Realty Group, LLC
$ 1,295,000
Est. payment | /mo

6,144 SqFt

Save
$ 1,295,000
Est. payment | /mo
Save

6,144 SqFt

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 6,144 sqft

Price per Sqft $210

Subdivision Milton Heights

MLS Listing ID 687888

HOA Y/N No

Year Built 1982

Property Sub-Type Apartment

Source Pensacola MLS

Property Description

Excellent multifamily investment opportunity in Milton! Updated complex consisting of a total of 12 1-bedroom, 1-bathroom units. Each unit has been updated with modern finishes including luxury vinyl plank flooring, stainless steel appliances, quartz countertops, updated fixtures, and washer/dryer hookups. The property is currently 10 of 12 units occupied, providing immediate rental income with additional upside through lease-up of the two vacant units. One vacant unit, 6651, is currently set up and utilized as an on-site leasing office and could be returned to residential use. Current base rents are approximately $925-$945 per month, with tenants also paying an additional $75 monthly utility/service fee covering water/sewer, trash, pest control, and lawn care. Situated on approximately 0.48 acres, the property also offers assigned resident parking. With all 12 units already updated, plus strong existing occupancy, this apartment complex offers an attractive opportunity to acquire an income-producing multifamily asset with additional revenue potential. Additional portfolio opportunity available: Seller also owns an 8-unit complex next door consisting of 2-bedroom, 1-bathroom units, as well as a nearby 6-unit property consisting of a 2-bedroom, 1-bathroom duplex and four 1-bedroom, 1-bathroom units on the same parcel. Seller is willing to consider a package transaction, providing an opportunity to acquire up to 26 multifamily units in close proximity. Properties may also be purchased separately.

Location

State FL

County Santa Rosa

Interior

Heating Central

Cooling Ceiling Fan(s), Central Air

Flooring See Remarks

Exterior

Parking Features Assigned, Parking Lot

View Y/N No

Roof Type Shingle

Garage No

Building

Lot Description Central Access

Faces NORTH ON STEWART ST., WEST ON MAGNOLIA STREET. UNITS ARE ON THE LEFT

Story 2

Structure Type Frame

New Construction No

Others

Tax ID 342N282470011000070

Special Listing Condition As Is

Pets Allowed Yes

Schools and Properties Nearby

Kevin & LeaAnn Wade

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(904) 254-4069

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6631 Magnolia St