Three-Unit Multifamily
New
For Sale
$184,500
204 N E St, Pensacola, FL 32502
Residential Income, Pensacola, FL
Property Size1,848 SF
Lot Size0.23 Acres
Price / SF$99.84
Days on Market2
Property Features for 204 N E St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Res Multi
Parking features
Driveway
Appliances
Electric Water Heater
Subdivision
Maxent Tract
Lot features
Central Access
Elementary school
Global Learning Academy
Middle school
WORKMAN
High school
Pensacola
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
000S009080013020
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
Legal Description
S 6 FT OF LT 13 ALL LTS 14 15 BLK 20 MAXENT TRACT OR 7143 P 1973 CA 104
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Wall/Window Unit(s), Window Unit(s), Ceiling Fan(s), Central Air
Water source
Public
Amenities
covered front porch
Building Details
Year built
1938
Floors in Building
1
Number of units
3
Building materials
Frame
Roof type
Shingle
Listing Agency:
POINTE SOUTH
(850) 492-1826
Listed By:
Anabella Owens · License #138392
(504) 390-3722
Added: Oct 4
Changed: Oct 5
Last Checked: Oct 5 at 9:06PM
MLS# 689904
Copyright © 2026 Pensacola Association of 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 comprises a 1938 duplex with two one-bedroom apartments and a detached 1941 rear building containing a third one-bedroom unit above garage and utility space. The duplex has a covered front porch and central heat and air. The lot measures 62' x 150', or approximately .23 acres.
The property is minutes from Palafox, Wahoo Stadium, downtown Pensacola restaurants and nightlife, and the Garden District.
The property is minutes from Palafox, Wahoo Stadium, downtown Pensacola restaurants and nightlife, and the Garden District.
Key Highlights
- Three one‑bedroom apartments across two buildings
- 1938 duplex with two one‑bedroom units; about 1,216 sq ft
- Detached 1941 building has a third apartment above garage/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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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two buildings provide three one-bedroom apartments, including a rear unit above garage and utility space.
Where is this multifamily property located?
The property is located at 204 N E St 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 one‑bedroom units; about 1,216 sq ft; Detached 1941 building has a third apartment above garage/utility space
