6200 Fairfield DrPensacola, FL 32506

Property Details for 6200 Fairfield Dr

Year built

1974

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.33 AC

Property size (Sq ft)

6,664 SF

Zone code

HDMU

Property type

Healthcare properties

Property subtype

Assisted living facilities

APN

14-2S-30-5103-000-001

APU

142S305103000001

Description

This exceptional investment opportunity presents a 16-unit apartment building located at 6200 W Fairfield Dr, Pensacola, FL 32506, in Escambia County. The property, built in 1974 and renovated in 2018, boasts a total of 7,264 square feet across two, two-story buildings situated on a 0.461-acre lot. Currently operating at 100% occupancy (as of September 6th, 2024), this Class C multifamily property offers significant cash flow potential. The property features 20 beds and 7 bathrooms, with a variety of unit types designed for diverse income streams. Amenities include 10 parking spaces. The property is zoned HDMU and offers a stabilized investment opportunity with a current NOI of $69,365 and a pro-forma NOI of $92,045, resulting in a current cap rate of 15.42% and a pro-forma cap rate of 20.46%. The asking price is $449,900, translating to $61.94 per square foot and $28,118.75 per unit. A single meter services water and power for all units. This is a full ownership opportunity, with no ground lease. The property's strong performance metrics, high occupancy rate, and significant cash flow make it an attractive investment for discerning buyers seeking a stable and profitable addition to their portfolio. The property's multi-purpose design and diverse unit types offer flexibility and potential for future growth.

Location Insight

City

Pensacola

County

Escambia

State

Florida

Latitude

30.4319

Longitude

-87.2976

CBSA code

37860

CBSA name

PENSACOLA-FERRY PASS-BRENT, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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