1224 E Strong St Pensacola, FL 32501

This charming 4,173 square foot multifamily property in Pensacola, Florida's desirable East Hill neighborhood, presents a unique investment opportunity. Built in 1918 with subsequent additions, this historic property currently boasts five apartments and three rentable storage/garage spaces. The R2 zoning allows for multiple uses, including the potential to increase the unit count to eight. The existing garage/shed also offers potential for conversion into additional living space. Located just one block from a Publix and less than two miles from downtown Pensacola, this prime location is ideal for both short-term and long-term rentals. The five units feature diverse floor plans, including one 2-bedroom/2-bathroom unit with a private fenced backyard, one 2-bedroom/1-bathroom unit, two 1-bedroom/1-bathroom units, and one studio with vaulted ceilings. Interior features include original trim and moldings, vintage doors and hardware, heart pine hardwood floors, two clawfoot tubs, high ceilings, decorative fireplaces, and a wrap-around front porch. Each apartment has individual electric meters, while the owner covers water, sewer, trash, and exterior lighting. Units A-D share a coin-operated laundry, while Unit E has a private laundry. Significant updates enhance the property's value, including new roofs (2021) for the main structure and garage, predominantly newer central HVAC systems, and completely upgraded plumbing and electrical systems. Unit B underwent a complete remodel in 2023. The property offers the rare advantage of two parking spaces per unit. This well-maintained property combines old-world charm with modern functionality, offering a compelling income opportunity with additional growth potential from the coin-operated laundry. The 0.247-acre lot provides ample space. Additional details are available upon request.