Updated Four-Unit Multifamily
For Sale
$699,900
131 Bayou View Drive A-D, Fort Walton Beach, FL 32547
Each residence has a private fenced yard and in-unit laundry hookups, with separate utility meters serving the units.
Property Size3,180 SF
Price / SF$220.09
Days on Market37
Property Features for 131 Bayou View Drive A-D
General Information
Standard status
Active
Size
3,180 SF
Property subtype
Quadplex - All Unites
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,574
Amenities
private fenced yard
in-unit laundry hookups
bonus storage building
Building Details
Building Size
3,180 SF
Year Built
1980
Buildings
2
Listing Agency:
EXP Realty LLC
Listed By:
Michelle Martin · License #3315911
(850) 218-3939
Source:
Greatwhiterealty
Added: Sep 22
Changed: Oct 27
Last Checked: Oct 27 at 3:34AM
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 EXP Realty LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Two duplex buildings provide four residences totaling 3,180 square feet. Each unit has 2 bedrooms and 1 bathroom, a private fenced yard, and laundry hookups. Three units have been remodeled with features including vinyl or tile flooring, new cabinets, updated doors and fixtures, and fresh paint. A separate storage building is also on site, with some storage already rented and additional space identified for potential rental use.
The property is fully occupied and has separate utility meters. The roof was replaced in 2017, all four water heaters were replaced in 2022, and the AC systems were updated between 2018 and 2021. A termite bond is in place. The property is located in Fort Walton Beach, with shopping, dining, and the beach nearby.
The property is fully occupied and has separate utility meters. The roof was replaced in 2017, all four water heaters were replaced in 2022, and the AC systems were updated between 2018 and 2021. A termite bond is in place. The property is located in Fort Walton Beach, with shopping, dining, and the beach nearby.
Key Highlights
- Four residences across two duplex buildings; each unit has 2 bedrooms and 1 bathroom
- 3,180 square feet; three units remodeled
- Private fenced yard and in‑unit laundry hookups for each residence
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.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
100%
Occupancy
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has a private fenced yard and in-unit laundry hookups, with separate utility meters serving the units.
Where is this quadplex located?
The property is located at 131 Bayou View Drive A-D 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 residences across two duplex buildings; each unit has 2 bedrooms and 1 bathroom; 3,180 square feet; three units remodeled; Private fenced yard and in‑unit laundry hookups for each residence
