Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Fully Renovated 4-Plex Income Property Title is generated by Realmo AI

    1601 E Cervantes, Pensacola, FL 32501

    View on Map
    Claim this Listing
    For Sale
    $675,000

    MULTI_FAMILY - Pensacola, FL

    Added:
    Apr 14, 2026
    Days on Market:
    51
    Last Refresh:
    Jun 3 at 4:06 pm

    Property Features for 1601 E Cervantes

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    On Street
    Fireplace
    1
    Appliances
    Tankless Water Heater
    Standard status
    Active
    APN
    000S009025001100

    Taxes and HOA fees

    Tax Description
    LTS 1 2 BLK 100 NEW CITY TRACT OR 8947 P 1295 OR 8971 P 1721 CA 41

    Utilities

    Heating system
    Central, Fireplace(s)
    Cooling system
    Central Air, Window Unit(s), Multi Units, Wall/Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1933
    Number of units
    4
    Roof type
    Shingle

    We can help!

    Listing Contact
    Blair Phillips Beck

    Listing agent Blair Phillips Beck

    Listing office Better Homes And Gardens Real Estate Main Street Properties 1313 Creighton Road Suite A, Pensacola, FL

    Listing date Apr 14, 2026

    MLS# 680916 Listing URL

    Copyright © 2026 Pensacola 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.

    HighLights

    • 4‑plex built in 1933 with central heating and cooling, plus fireplace(s) and a tankless water heater
    • Four fully renovated units (A–D) offer a mix of layouts, including a 2BR second‑floor unit (C) and a studio with private deck (D)
    • Gross rental income reported as approximately $10,000+ per month and annual revenue exceeding $120,000
    • Roof replacement completed in 2021; updated plumbing in the B/C laundry area and tankless water heater installation by a licensed plumber
    • Unit amenities include private laundry room (A), outdoor entertaining with fire pit/grill/dining (B), shared laundry for B & C, and in‑unit laundry plus outdoor seating/grill (D)
    • Public water service; parking on street; heating includes central and fireplace(s)

    Overview

    This fully renovated 4-plex is set up for income production with four distinct units (A–D) and a mix of layouts designed for both short-term stays and longer visits. Unit A includes a king bedroom, full kitchen, and private laundry room. Unit B features a king suite, updated bath, and a dedicated outdoor entertaining area with a fire pit, grill, and dining space, with laundry utilities shared with Unit C. Unit C is a fully renovated second-floor 2BR with dual king suites, smart TVs, and comfortable living space, with shared laundry utilities. Unit D is a studio with a king bed, walk-in rain shower, in-unit laundry, and a private deck with outdoor seating and grill. Recent upgrades include a full roof replacement in 2021, updated plumbing in the B/C laundry area, and installation of a tankless water heater completed by a licensed plumber.

    Located in the East Hill neighborhood, the property is approximately four blocks from Publix and about 5 minutes to downtown Pensacola, with Pensacola Beach roughly 15 minutes away. The configuration supports guest demand for both short-term and extended-stay use, and the current operating model has included renting as a 4-unit income-producing STR asset or as a whole for larger groups.

    For investors or owner-occupants, the property offers established rental performance and immediate cash flow potential based on the reported income history. It may also qualify for FHA financing, which can allow an owner to live in one unit while using the remaining units as income-producing rentals. The property is currently fully furnished, with furnishings available for purchase or negotiation with an acceptable offer.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    County
    Escambia
    State
    Florida
    Longitude
    -87.196432
    Latitude
    30.424688

    Nearby Similar for Sale

    • $700,000
      4,122 SF

      New Construction Duplex Investment Opportunity

      Two new duplexes on one parcel, estimated completion August 2026.
      6321 Denver Avenue, Pensacola, FL 32526
      View Details
    • $685,000
      2,984 SF

      Freestanding QSR with Drive-Thru

      Freestanding restaurant/retail property with drive-thru on 0.88 acres.
      3507 Pace Blvd, Pensacola, FL 32505
      View Details
    • $575,000
      2,380 SF

      Pensacola Single-Story Home with Pond View

      Four-bedroom Pensacola home in Landfall Subdivision with pond view.
      4003 Indigo Drive, Pensacola, FL 32507
      View Details
    • $998,000
      11,989 SF

      Value-Add Commercial Property For Sale

      Two buildings on 1.25 acres, ideal for retail/industrial redevelopment.
      1620 W Cervantes St, Pensacola, FL 32501
      View Details
    • $799,000
      2,840 SF

      Free-Standing Building on 1.68 Acres

      2,840 SF building on 1.68 acres with redevelopment potential.
      3301 West Navy Boulevard, Pensacola, FL 32505
      View Details
    • $725,000
      3,406 SF

      East Hill Spacious Brick Duplex

      Spacious East Hill duplex, updated, move-in ready, great location.
      1119 & 1121 E Lakeview Ave, Pensacola, FL 32503
      View Details
    • $439,000

      Pensacola Office/Multi-Family Opportunity

      Office or multi-family property in a fantastic Pensacola location.
      304 W Cervantes St, Pensacola, FL 32501
      View Details
    • $700,000

      New Construction Duplex Investment Opportunity

      Two new duplexes on one parcel, estimated completion August 2026.
      6321 Denver Ave, Pensacola, FL 32526
      View Details
    • $2,000,000
      4,950 SF

      Pensacola Restaurant - $1.5M

      4,950 SF restaurant with updated interior on high-traffic Pensacola Boulevard.
      6707 Pensacola Blvd, Pensacola, FL 32505
      View Details
    • $325,000

      Income-Producing Property in Pensacola, FL

      Commercially zoned duplex with income and development potential.
      4200 W Jackson St, Pensacola, FL 32505
      View Details
    • $599,000
      2,566 SF

      New Construction Duplex Near Downtown

      Modern duplex with strong rental potential near downtown Pensacola.
      315 N Pace Blvd, Pensacola, FL 32505
      View Details
    • $599,000
      2,566 SF

      New Construction Duplex Near Downtown

      Modern duplex with strong rental potential, near downtown Pensacola.
      309 N Pace Blvd, Pensacola, FL 32505
      View Details

    FAQs

    What type of property is this?
    Quadplex - Turnkey, fully renovated 4-unit property with strong gross rental history and flexible short-term or group accommodations.
    Where is this quadplex located?
    The property is located at 1601 E Cervantes Pensacola, FL.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: 4‑plex built in 1933 with central heating and cooling, plus fireplace(s) and a tankless water heater; Four fully renovated units (A–D) offer a mix of layouts, including a 2BR second‑floor unit (C) and a studio with private deck (D); Gross rental income reported as approximately $10,000+ per month and annual revenue exceeding $120,000
    (850) 912-4123
    We can help!
    Listing Contact
    Blair Phillips Beck
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1601 E Cervantes, Pensacola, FL 32501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!