Multifamily Property with Detached
For Sale
$795,000
4 W Desoto St, Pensacola, FL 32501
Residential Income, Pensacola, FL
Property Size2,904 SF
Price / SF$273.76
Days on Market932
Property Features for 4 W Desoto St
General Information
Property type
Residential Multi Family
Property subtype
Other
Interior features
Baseboards, Ceiling Fan(s)
Appliances
Water Heater, Electric Water Heater, Built In Microwave, Dishwasher, Refrigerator
Subdivision
Belmont Tract
Lot features
Corner Lot, Historic District
Elementary school
Global Learning Academy
Middle school
WORKMAN
High school
Pensacola
Directions
From the corner of N Palafox St and W Gregory St, go north on N Palafox St. then turn west on W DeSoto St. House is on the corner of W De Soto St and N Palafox St.
Standard status
Active
APN
000S009010019049
Size
2,904 SF
Taxes and HOA fees
Tax Description
LTS 19 20 BLK 49 BELMONT TRACT OR 8284 P 310 CA 78
Legal Description
LTS 19 20 BLK 49 BELMONT TRACT OR 8284 P 310 CA 78
Utilities
Utilities
Cable Available
Cooling system
Multi Units, Ceiling Fan(s), Central Air
Building Details
Year built
1937
Floors in Building
2
Number of units
3
Building materials
Brick, Frame
Roof type
Composition
Listing Agency:
Crystal Shores 2 Inc.
(850) 939-3837
Listed By:
Amity Nowling
(850) 293-6455
Added: Apr 4, 2024
Changed: Oct 18
Last Checked: Oct 22 at 4:06PM
MLS# 643152
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.
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Investment Insights
Based on property information with market context.
This multifamily property includes a duplex building with two three-bedroom, two-bath residences and a detached converted garage configured as a one-bedroom, one-bath unit. The two main residences measure 1,452 square feet each, while the detached unit is approximately 600 square feet. Interior finishes include luxury vinyl plank flooring, white quartz countertops, modern appliances, ceiling fans, and central air. Appliances include refrigerators, dishwashers, built-in microwaves, and electric water heaters.
The property occupies the corner of N Palafox and W De Soto in Pensacola’s Historic North Hill area. Downtown Pensacola shopping, dining, and entertainment are nearby. The 1937 improvements feature brick and frame construction, composition roofing, and multiple cooling units.
The property occupies the corner of N Palafox and W De Soto in Pensacola’s Historic North Hill area. Downtown Pensacola shopping, dining, and entertainment are nearby. The 1937 improvements feature brick and frame construction, composition roofing, and multiple cooling units.
Key Highlights
- Duplex building with two 3‑bed/2‑bath units, each measuring 1,452 sqft
- Detached converted garage provides an additional 1 bed/1 bath unit of approx. 600 sqft
- Corner location at N Palafox and W De Soto in Historic North Hill
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,581
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$571,620
$571.6K
Cap Rate 7%
$408,300
$408.3K
Cap Rate 9%
$317,567
$317.6K
Market Conditions
NOI Build-Up for 2,904 SF
Gross rent
$47.0K $16.20/SF
− Vacancy
−$6.2K −$2.14/SF
EGI
$40.8K $14.06/SF
− OpEx
−$12.2K −$4.22/SF
NOI
$28.6K $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%
$571,620
Cap Rate 7%
$408,300
Cap Rate 9%
$317,567
Alternative Uses
Best Use
Multifamily LT 5
$408.3K
$357.3K – $476.4K
NOI $28,581 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$374.8K
$328.0K – $437.3K
NOI $26,239 @ 7.0% cap · market cap 3.30%
Theoretical Best
Office A
$852.3K
$745.8K – $994.3K
NOI $59,660 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 32501, FL
10,960
Population
5,505
Households
2
Avg Household Size
41
Median Age
30%
College-Educated
86%
High-School Grad
3.7 sq mi
ZIP Area
2,962
Density / Sq Mi
$39,127
Median Household Income
$31,312
Median Earnings
$964
Median Rent
$277,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three residential units combine updated interiors with a separate converted garage apartment near downtown Pensacola.
Where is this multifamily property located?
The property is located at 4 W Desoto St Pensacola, FL.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Duplex building with two 3‑bed/2‑bath units, each measuring 1,452 sqft; Detached converted garage provides an additional 1 bed/1 bath unit of approx. 600 sqft; Corner location at N Palafox and W De Soto in Historic North Hill
