Four-Unit Multifamily
108 Don Bishop Road Santa Rosa Beach, FL 32459
For Sale
$959,999
MULTI_FAMILY - Other - Santa Rosa Beach, FL
Property Size4,600 SF
Price / SF$208.70
Days on Market279
Property Features for 108 Don Bishop Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Resid Multi-Family
Bedrooms
10
Bathrooms
8
Rooms
Bedroom 3, Bedroom 9, Bathroom 4, Bathroom 5, Bathroom 8, Bathroom 6, Bathroom 7, Bedroom 10, Dining Room, Bedroom 4, Bedroom 7, Bedroom 2, Bedroom 6, Bedroom 8, Bedroom 5, Bathroom 1, Bedroom 1, Bathroom 2, Bathroom 3
Interior features
Breakfast Bar, Washer/Dryer Hookup
Exterior features
Balcony
Appliances
Dishwasher, Disposal, Range Hood, Refrigerator, Smoke Detector, Stove/Oven Electric, Water Heater - Elect
Standard status
Active
APN
28-2S-20-33500-000-0160
Size
4,600 SF
Taxes and HOA fees
Tax Description
LOT 16 SANTA ROSA PLACE APARTMENTS PB 15-36 OR 2607- 3308 OR 2685-1688 OR 2828-2056 OR 2830-4707 OR 2841-3761 OR 3083-976
Utilities
Sewer type
Public Sewer
Building Details
Year built
2005
Floors in Building
2
Flooring type
Tile
Building materials
Siding Wood
Architectural style
Other
Listing Agency:
Beycome of Florida LLC
(804) 656-5007
Listed By:
Steve Koleno · License #BK3469487
(804) 656-5007
Added: Oct 22, 2025
Changed: Jul 24
Last Checked: Jul 27 at 5:06PM
MLS# 988059
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 four-unit multifamily property (quadplex) is configured with two 3-bedroom/2-bath units and two 2-bedroom/2-bath units. The building provides a total of 4,600 square feet of residential space. Reported operating figures provided with the listing include $350 per month HOA, $5,721 in insurance, and $3,310.97 in taxes. Current collected rental income is stated at $6,645 per month from the four individual units.
The property is located at 108 Don Bishop Road in Santa Rosa Beach, Florida (Walton County). The listing indicates residential multi-family zoning (Resid Multi-Family). The property is presented as an income-producing building with all four units occupied by long-term tenants, described as 5 to 10 years.
For buyers seeking a turn-key residential income property, the unit mix supports both 2-bedroom and 3-bedroom household needs within the same building. The reported rental income and in-place tenancy profile may appeal to owner-operators or investors looking for a small, manageable multifamily asset rather than a larger complex. All considerations should be reviewed based on the offering materials and verified expenses and rent terms.
The property is located at 108 Don Bishop Road in Santa Rosa Beach, Florida (Walton County). The listing indicates residential multi-family zoning (Resid Multi-Family). The property is presented as an income-producing building with all four units occupied by long-term tenants, described as 5 to 10 years.
For buyers seeking a turn-key residential income property, the unit mix supports both 2-bedroom and 3-bedroom household needs within the same building. The reported rental income and in-place tenancy profile may appeal to owner-operators or investors looking for a small, manageable multifamily asset rather than a larger complex. All considerations should be reviewed based on the offering materials and verified expenses and rent terms.
Key Highlights
- 4‑unit multi‑unit building with a mix of 3BD/2BA and 2BD/2BA units
- Stated rental income is $6,645/month with long‑term tenants (5–10 years)
- HOA is $350/month; public sewer available
Financial Insights For Multifamily LT 5
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 | $93.8k | $20.40 |
| − Vacancy | −$14.3k | −$3.12 |
| EGI | $79.5k | $17.28 |
| − OpEx | −$23.8k | −$5.18 |
| NOI | $55.6k | $12.10 |
4,600 SF · lease $20.40/SF/yr · vacancy 15.29% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$794.9K
$695.6K – $927.4K
NOI $55,644 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$727.8K
$636.8K – $849.1K
NOI $50,944 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,978 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Quadplex with four residential units and long-term tenants, generating reported monthly rental income.
Where is this quadplex located?
The property is located at 108 Don Bishop Road Santa Rosa Beach, FL.
What is the asking price?
The asking price for this property is $959,999.
What are key features of this property?
This property features: 4‑unit multi‑unit building with a mix of 3BD/2BA and 2BD/2BA units; Stated rental income is $6,645/month with long‑term tenants (5–10 years); HOA is $350/month; public sewer available
