3101 Mallory StPensacola, FL 32505

Property Details for 3101 Mallory St

Property size (Sq ft)

3,589 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a six-unit apartment building situated on a sizable 19,127 square foot lot in Pensacola, Florida. The property, built in 1971 and 1976, consists of two single-story buildings totaling 3,589 square feet of net rentable space. Currently vacant, the property offers a significant value-add potential. The exterior has recently undergone improvements including new roofs, windows, doors, and a fresh coat of paint. However, all six one-bedroom, one-bathroom units require substantial interior rehabilitation. The property boasts ten parking spaces and is zoned MDR. Located in an Opportunity Zone, this investment benefits from tax incentives. The asking price is $449,000, representing a price per unit of $74,833.33 and a price per square foot of $125.10. A pro-forma cap rate of 17.59% and a pro-forma NOI of $79,000 are projected. The property is conveniently located approximately ten minutes from the airport and downtown Pensacola, and twenty minutes from Pensacola Beach. The seller has paid all liens, ensuring a clear title. The property is sold as-is, with seller financing available. Principal end buyers only

Location Insight

City

Pensacola

County

Escambia

State

Florida

Latitude

30.4299

Longitude

-87.2525

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