Duplex-Included Multifamily
818 Lark Street Fort Walton Beach, FL 32547
818 Lark Street, Fort Walton Beach, FL, 32547
$575,000
For Sale
$575,000
MULTI_FAMILY - Other - Fort Walton Beach, FL
Property Size2,750 SF
Lot Size0.47 Acres
Price / SF$209.09
Days on Market434
Property Features for 818 Lark Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- County, Resid Multi-Famil
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bedroom 2, Bedroom 4, Dining Room, Bedroom 6, Bedroom 3, Bathroom 4, Bedroom 1, Bedroom 7, Bedroom 8, Bedroom 5, Bathroom 3, Bathroom 2
- Parking
- 17
- Interior features
- Washer/Dryer Hookup
- Appliances
- Oven Self Cleaning, Range Hood, Refrigerator, Smoke Detector, Stove/Oven Gas, Water Heater - Elect
- Standard status
- Active
- APN
- 26-1S-24-0950-0003-0050
- Size
- 2,750 SF
- Lot size
- 0.47 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- FOREST HTS S/D LOT 5 BLK 3 & FOREST HTS S/D LOT 4 BLK 3
- Tax Annual Amount
- 3224
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Wall/Window Unit(s), Window Unit(s), Central Air
Building Details
- Year built
- 1982
- Floors in Building
- 1
- Building materials
- Brick
- Architectural style
- Other
Listing Agency
Coldwell Banker Realty
(850) 863-4563
45 Eglin Pkwy NE #101, Pensacola, FL
Listed by
Tamela Leann Hayes · License #3085266
(850) 259-6404
Added: May 14, 2025 Updated: Jul 20 at 5:58 pm Checked: Jul 21 at 6:06 am
MLS# 976434
Listing URL
Copyright © 2026 Emerald Coast 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.
This multifamily portfolio consists of two parcels and includes four single-story duplexes, providing a total of eight rental units. The listing states the property is fully occupied. Seven units are described as having two bedrooms and one bathroom with open kitchen and living areas, covered back patios, washer/dryer hookups, and individual central heat and air systems. Dedicated parking and concrete driveways are noted, along with enhanced street lighting. Unit 8 is described as a larger configuration with three bedrooms and three full bathrooms, an office/flex room, an attached one-car garage, a large screened porch, and a private irrigation well.
The parcels are offered together and are located in Okaloosa County. The address provided is 818 Lark Street in Fort Walton Beach, FL. The listing further notes proximity to Eglin AFB and Hurlburt Field, as well as shopping, dining, beaches, and other everyday amenities.
The current gross rental income is approximately $9,130 per month, per the listing. The property is being offered with owner financing terms described as $500,000 down, 6.5% interest, 30-year amortization, and a three-year balloon payment, with proof of annual property tax and insurance payments required during the financing term.
The parcels are offered together and are located in Okaloosa County. The address provided is 818 Lark Street in Fort Walton Beach, FL. The listing further notes proximity to Eglin AFB and Hurlburt Field, as well as shopping, dining, beaches, and other everyday amenities.
The current gross rental income is approximately $9,130 per month, per the listing. The property is being offered with owner financing terms described as $500,000 down, 6.5% interest, 30-year amortization, and a three-year balloon payment, with proof of annual property tax and insurance payments required during the financing term.
Key Highlights
- Two parcels (816 & 818 Lark St) with four single‑story duplexes totaling 8 rental units; property is fully occupied
- 7 units feature 2 bedrooms and 1 bathroom with open kitchen/living areas, covered back patios, washer/dryer hookups, and individual central heat/air systems
- Unit 8 (816 Lark) has 3 bedrooms and 3 full bathrooms plus a dedicated office/flex room, attached one‑car garage, and a large screened porch
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.5k | $19.80 |
| − Vacancy | −$2.7k | −$0.99 |
| EGI | $51.7k | $18.81 |
| − OpEx | −$23.3k | −$8.46 |
| NOI | $28.5k | $10.35 |
2,750 SF · lease $19.80/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$406.4K
$355.6K – $474.2K
NOI $28,450 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.06M
$927.3K – $1.24M
NOI $74,183 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two parcels with four single-story duplexes totaling eight units, all described as currently occupied.
Where is this apartment building located?
The property is located at 818 Lark Street Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two parcels (816 & 818 Lark St) with four single‑story duplexes totaling 8 rental units; property is fully occupied; 7 units feature 2 bedrooms and 1 bathroom with open kitchen/living areas, covered back patios, washer/dryer hookups, and individual central heat/air systems; Unit 8 (816 Lark) has 3 bedrooms and 3 full bathrooms plus a dedicated office/flex room, attached one‑car garage, and a large screened porch
