Three-Unit Multifamily
New
For Sale
$184,500
204 N E St And C Unit A B, Pensacola, FL 32502
Two one-bedroom residences occupy the main building, with another apartment above a rear garage and utility area.
Property Size1,848 SF
Lot Size0.23 Acres
Price / SF$99.84
Days on Market5
Property Features for 204 N E St And C Unit A B
General Information
Standard status
Active
Size
1,848 SF
Lot size
0.23 Acres
Property subtype
Multi-Family
Units
Unit Mix
3 x 1BR
Multifamily Units
3
Building Details
Year Built
1938
Buildings
2
Listing Agency:
Pointe South
Listed By:
Anabella Owens · License #138392
(504) 390-3722
Source:
Southalabamahomesforsale
Added: Oct 4
Changed: Oct 6
Last Checked: Oct 7 at 12:42PM
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 Pointe South
Investment Insights
Based on property information with market context.
The property contains three one-bedroom apartments across two buildings. The 1938 duplex has two units and approximately 1,216 square feet, along with a covered front porch and central heat and air. A detached building constructed in 1941 provides the third apartment above garage and utility space.
The site measures 62' x 150', or roughly .23 acres. Palafox, Wahoo Stadium, downtown Pensacola restaurants and nightlife, and the Garden District are described as minutes away.
The site measures 62' x 150', or roughly .23 acres. Palafox, Wahoo Stadium, downtown Pensacola restaurants and nightlife, and the Garden District are described as minutes away.
Key Highlights
- Three one‑bedroom apartments across two buildings
- 1938 duplex with approximately 1,216 sq ft, a covered front porch, and central heat and air
- Detached 1941 building with an apartment above garage and utility space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,697
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,940
$333.9K
Cap Rate 7%
$238,529
$238.5K
Cap Rate 9%
$185,522
$185.5K
Market Conditions
NOI Build-Up for 1,848 SF
Gross rent
$35.3K $19.08/SF
− Vacancy
−$4.9K −$2.65/SF
EGI
$30.4K $16.43/SF
− OpEx
−$13.7K −$7.39/SF
NOI
$16.7K $9.04/SF
Area
Escambia County, FL
Vacancy
13.90%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$333,940
Cap Rate 7%
$238,529
Cap Rate 9%
$185,522
Alternative Uses
Best Use
Apartment 5plus
$238.5K
$208.7K – $278.3K
NOI $16,697 @ 7.0% cap · market cap 9.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$542.4K
$474.6K – $632.8K
NOI $37,965 @ 7.0% cap · market cap 20.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,319
Businesses Nearby
Explore this area
Business Placement
Demographics for 32502, FL
4,277
Population
2,582
Households
1.7
Avg Household Size
46
Median Age
36%
College-Educated
92%
High-School Grad
2.7 sq mi
ZIP Area
1,584
Density / Sq Mi
$67,548
Median Household Income
$41,011
Median Earnings
$1,313
Median Rent
$229,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two one-bedroom residences occupy the main building, with another apartment above a rear garage and utility area.
Where is this multifamily property located?
The property is located at 204 N E St And C Unit A B Pensacola, FL.
What is the asking price?
The asking price for this property is $184,500.
What are key features of this property?
This property features: Three one‑bedroom apartments across two buildings; 1938 duplex with approximately 1,216 sq ft, a covered front porch, and central heat and air; Detached 1941 building with an apartment above garage and utility space
