3-Unit Multifamily
New
For Sale
$184,500
204 N E Street, Pensacola, FL 32502
Residential Income, Pensacola, FL
Property Size1,848 SF
Lot Size0.23 Acres
Price / SF$99.84
Days on Market4
Property Features for 204 N E Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
MultiFamily
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3, Bathroom 1
Patio and Porch features
Patio
Fencing
Fenced
Appliances
No Appliances
Subdivision
Maxent Tract
Lot features
Less Than 1 Acre
Elementary school
Not Baldwin County
Middle school
Not Baldwin County
High school
Not Baldwin County High
Directions
Follow the local roads into Pensacola near W. Gregory St.Turn North onto E St. 204 N E St will be on your right.
Standard status
Active
APN
00-0S-00-9080-013-020
Size
1,848 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
S 6 Ft Of Lt 13 All Lts 14 15 Blk 20 Maxent Tract Or 7143 P 1973 Ca 104
Tax Annual Amount
2327
Legal Description
S 6 Ft Of Lt 13 All Lts 14 15 Blk 20 Maxent Tract Or 7143 P 1973 Ca 104
Utilities
Heating system
Electric (Heating)
Amenities
covered front porch
Building Details
Year built
1938
Floors in Building
1
Roof type
Composition
Listing Agency:
Pointe South
(251) 210-6667
Listed By:
Anabella Owens · License #138392
(251) 300-5977
Added: Oct 2
Changed: Oct 5
Last Checked: Oct 5 at 9:06PM
MLS# 411600
Copyright © 2026 Baldwin REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property contains three one-bedroom apartments across two buildings. The 1938 duplex has two units and measures approximately 1,216 square feet; it includes a covered front porch and central heat and air. A detached building constructed in 1941 has the third apartment above garage and utility space. The property is zoned MultiFamily, and the recorded property size is 1,848 square feet on an approximately 0.23-acre lot.
The site is at 204 N E Street in Pensacola, near Palafox, Wahoo Stadium, downtown restaurants and nightlife, and the Garden District. The lot measures 62 feet by 150 feet. Existing features include a fence and electric heating.
The site is at 204 N E Street in Pensacola, near Palafox, Wahoo Stadium, downtown restaurants and nightlife, and the Garden District. The lot measures 62 feet by 150 feet. Existing features include a fence and electric heating.
Key Highlights
- Three one‑bedroom apartments across two buildings
- 1938 duplex with two units and approximately 1,216 square feet
- Detached 1941 building with an apartment above garage and utility space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,697
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,940
$333.9K
Cap Rate 7%
$238,529
$238.5K
Cap Rate 9%
$185,522
$185.5K
Market Conditions
NOI Build-Up for 1,848 SF
Gross rent
$35.3K $19.08/SF
− Vacancy
−$4.9K −$2.65/SF
EGI
$30.4K $16.43/SF
− OpEx
−$13.7K −$7.39/SF
NOI
$16.7K $9.04/SF
Area
Escambia County, FL
Vacancy
13.90%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,940
Cap Rate 7%
$238,529
Cap Rate 9%
$185,522
Alternative Uses
Best Use
Apartment 5plus
$238.5K
$208.7K – $278.3K
NOI $16,697 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$542.4K
$474.6K – $632.8K
NOI $37,965 @ 7.0% cap · market cap 20.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,319
Businesses Nearby
Explore this area
Business Placement
Demographics for 32502, FL
4,277
Population
2,582
Households
1.7
Avg Household Size
46
Median Age
36%
College-Educated
92%
High-School Grad
2.7 sq mi
ZIP Area
1,584
Density / Sq Mi
$67,548
Median Household Income
$41,011
Median Earnings
$1,313
Median Rent
$229,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three one-bedroom apartments are arranged in a duplex and a separate rear building.
Where is this multifamily property located?
The property is located at 204 N E Street Pensacola, FL.
What is the asking price?
The asking price for this property is $184,500.
What are key features of this property?
This property features: Three one‑bedroom apartments across two buildings; 1938 duplex with two units and approximately 1,216 square feet; Detached 1941 building with an apartment above garage and utility space
