Updated Four-Unit
131 Bayou View Drive, Fort Walton Beach, FL 32547
For Sale
$699,900
Residential, Fort Walton Beach, FL
Property Size3,180 SF
Price / SF$220.09
Days on Market49
Property Features for 131 Bayou View Drive
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Patio and Porch features
Interior features
Exterior features
Fencing
Fireplace
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Amenities
private fenced yard
in-unit laundry hookups
Building Details
Year built
Flooring type
Building materials
Architectural style
Buildings
Listing Agency:
EXP Realty LLC
(888) 883-8509
Listed By:
Michelle Martin · License #3315911
(850) 218-3939
Added: Sep 22
Changed: Oct 31
Last Checked: Nov 9 at 6:06AM
MLS# 1012523
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.
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Investment Insights
Based on property information with market context.
Located at 131 Bayou View Drive in Fort Walton Beach, this 3,180-square-foot quadplex comprises two buildings with four two-bedroom, one-bath residences. Three units have received improvements including vinyl or tile flooring, fresh paint, replacement cabinetry, updated doors, and updated fixtures. Each residence includes a private fenced yard and washer/dryer hookups. The property also features central heating and cooling, tile and vinyl flooring, fireplaces, patios, dishwashers, and refrigerators.
A separate yard building provides storage space beyond the residential units. The roof was replaced in 2017, all four water heaters were replaced in 2022, and the AC systems were updated between 2018 and 2021. Separate utility meters serve the units, and a termite bond is in place. The property is fully occupied and zoned Resid Multi-Family. Public sewer serves the site, which is near shopping, dining, and the beach in Fort Walton Beach.
A separate yard building provides storage space beyond the residential units. The roof was replaced in 2017, all four water heaters were replaced in 2022, and the AC systems were updated between 2018 and 2021. Separate utility meters serve the units, and a termite bond is in place. The property is fully occupied and zoned Resid Multi-Family. Public sewer serves the site, which is near shopping, dining, and the beach in Fort Walton Beach.
Key Highlights
- Four 2‑bedroom, 1‑bath units across two buildings
- 3,180 square feet on a 0.00‑acre?
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,602
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$732,040
$732.0K
Cap Rate 7%
$522,886
$522.9K
Cap Rate 9%
$406,689
$406.7K
Market Conditions
NOI Build-Up for 3,180 SF
Gross rent
$55.3K $17.40/SF
− Vacancy
−$3.0K −$0.96/SF
EGI
$52.3K $16.44/SF
− OpEx
−$15.7K −$4.93/SF
NOI
$36.6K $11.51/SF
Area
Okaloosa County, FL
Vacancy
5.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$732,040
Cap Rate 7%
$522,886
Cap Rate 9%
$406,689
Alternative Uses
Best Use
Multifamily LT 5
$522.9K
$457.5K – $610.0K
NOI $36,602 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$470.0K
$411.2K – $548.3K
NOI $32,899 @ 7.0% cap · market cap 4.70%
Theoretical Best
Specialty Retail
$1.23M
$1.07M – $1.43M
NOI $85,783 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Explore this area
Business Placement
Demographics for 32547, FL
35,466
Population
16,112
Households
2.2
Avg Household Size
37
Median Age
28%
College-Educated
89%
High-School Grad
29.0 sq mi
ZIP Area
1,223
Density / Sq Mi
$67,822
Median Household Income
$36,465
Median Earnings
$1,421
Median Rent
$299,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Two buildings contain four private residences with fenced yards, laundry hookups, and several renovated interiors.
Where is this quadplex located?
The property is located at 131 Bayou View Drive Fort Walton Beach, FL.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units across two buildings; 3,180 square feet on a 0.00‑acre?
