Updated Brick
For Sale
$599,900
1119 & 1121 E Lakeview Ave, Pensacola, FL 32503
Two separate residences offer matching three-bedroom layouts, recent system and interior updates, and covered parking.
Property Size3,406 SF
Price / SF$176.13
Days on Market198
Property Features for 1119 & 1121 E Lakeview Ave
General Information
Standard status
Active
Size
3,406 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Amenities
laundry room
outside storage room/workshop
irrigation system
Building Details
Building Size
3,406 SF
Year Built
1964
Buildings
1
Construction
brick
Listing Agency:
Connell & Company Realty Inc.
Listed By:
Bobbi Godwin
(850) 478-4141
Source:
Kuhnrealty
Added: Apr 16
Changed: Oct 26
Last Checked: Oct 26 at 3:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Connell & Company Realty Inc.
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Investment Insights
Based on property information with market context.
This brick duplex on a corner lot contains two residences, each approximately 1,703 square feet with three bedrooms and 2.5 bathrooms. Both units have kitchens, laundry rooms, and exterior storage rooms with workshop space. Improvements made over the past four years include HVAC systems, a roof, a water heater, kitchen appliances and countertops, flooring, select plumbing fixtures, paint, and an irrigation system. Parking includes two covered spaces and additional open parking.
The property is on E Lakeview Ave in Pensacola’s East Hill area. Bayview Park, which offers water access, is within walking or biking distance, along with restaurants, shops, and other neighborhood businesses. Downtown Pensacola’s Palafox entertainment district and white-sand beaches are also identified as nearby destinations, with the beaches described as a 15-minute trip.
The property is on E Lakeview Ave in Pensacola’s East Hill area. Bayview Park, which offers water access, is within walking or biking distance, along with restaurants, shops, and other neighborhood businesses. Downtown Pensacola’s Palafox entertainment district and white-sand beaches are also identified as nearby destinations, with the beaches described as a 15-minute trip.
Key Highlights
- Two‑unit brick duplex on a corner lot
- Each residence is approximately 1,703 square feet with 3 bedrooms and 2.5 bathrooms
- Two covered parking spaces plus additional open parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,522
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$670,440
$670.4K
Cap Rate 7%
$478,886
$478.9K
Cap Rate 9%
$372,467
$372.5K
Market Conditions
NOI Build-Up for 3,406 SF
Gross rent
$55.2K $16.20/SF
− Vacancy
−$7.3K −$2.14/SF
EGI
$47.9K $14.06/SF
− OpEx
−$14.4K −$4.22/SF
NOI
$33.5K $9.84/SF
Area
Escambia County, FL
Vacancy
13.21%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$670,440
Cap Rate 7%
$478,886
Cap Rate 9%
$372,467
Alternative Uses
Best Use
Multifamily LT 5
$478.9K
$419.0K – $558.7K
NOI $33,522 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$439.6K
$384.7K – $512.9K
NOI $30,774 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$999.6K
$874.7K – $1.17M
NOI $69,973 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,071
Businesses Nearby
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Business Placement
Demographics for 32503, FL
33,693
Population
14,419
Households
2.3
Avg Household Size
36
Median Age
41%
College-Educated
94%
High-School Grad
12.6 sq mi
ZIP Area
2,674
Density / Sq Mi
$67,654
Median Household Income
$32,077
Median Earnings
$1,226
Median Rent
$270,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer matching three-bedroom layouts, recent system and interior updates, and covered parking.
Where is this duplex located?
The property is located at 1119 & 1121 E Lakeview Ave Pensacola, FL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two‑unit brick duplex on a corner lot; Each residence is approximately 1,703 square feet with 3 bedrooms and 2.5 bathrooms; Two covered parking spaces plus additional open parking
