Red Brick Fourplex with Private
New
For Sale
$875,000
401 N Barcelona St, Pensacola, FL 32501
MULTI_FAMILY - Pensacola, FL
Property Size3,108 SF
Price / SF$281.53
Days on Market1
Property Features for 401 N Barcelona St
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Res Multi
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 6, Bathroom 4, Bedroom 3, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 2
Parking features
Parking Lot
Window features
Blinds
Patio and Porch features
Porch, Patio
Interior features
Baseboards, Crown Molding, High Speed Internet
Appliances
Water Heater, Electric Water Heater, Dryer, Washer, Built In Microwave, Disposal, Microwave, Refrigerator
Subdivision
Belmont Tract
Lot features
Corner Lot
Elementary school
Global Learning Academy
Middle school
WORKMAN
High school
Pensacola
Directions
From Downtown Pensacola: Head toward W Gregory St Turn right onto W Gregory St Turn right onto N Barcelona St Destination will be on the left
Standard status
Active
APN
000S009010200014
Size
3,108 SF
Taxes and HOA fees
Tax Description
E 100 FT OF LTS 20 21 & 22 BLK 14 BELMONT TRACT OR 5866 P 309 CA 95
Legal Description
E 100 FT OF LTS 20 21 & 22 BLK 14 BELMONT TRACT OR 5866 P 309 CA 95
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air, Multi Units
Water source
Public
Amenities
wrought iron fence
front and backyard green space
mature shade trees
dedicated side parking
covered front porch
original crown molding and baseboards
ceiling fans in bedrooms
in-unit washer/dryer
Building Details
Year built
1940
Floors in Building
2
Number of units
4
Flooring type
Tile, Hardwood
Building materials
Brick, Frame
Roof type
Shingle
Listing Agency:
Levin Rinke Realty
(850) 916-5050
Listed By:
Tonya Zimmern · License #SL653517
(850) 916-7188
Added: Jul 30
Last Checked: Jul 30 at 2:06PM
MLS# 686716
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.
Investment Insights
Based on property information with market context.
This 1940s red brick fourplex offers four separate residential units with updates and well-maintained interior features. Downstairs units each include one bedroom and one bathroom with private entrances from the covered front porch, wood floors, and granite kitchen countertops. The two upstairs units each provide two bedrooms and one bathroom, accessed from a central interior staircase at the front entrance, and also feature wood floors and granite kitchen countertops, along with ceiling fans in every bedroom. Upstairs tenants have private backyard access via a shared staircase. Original crown molding and baseboards remain throughout, and several in-unit upgrades have been made, including new appliances in Unit 1, Unit 3, and Unit 4, plus a new refrigerator and AC in Unit 4. Three units include in-unit washers and dryers, and each unit is separately metered for utilities. The roof was replaced in 2021 following Hurricane Sally.
The property sits on a large lot enclosed by a wrought iron fence, with front and backyard green space, mature shade trees, and dedicated side parking intended to keep residents off the street overnight. Three units are currently leased with lease end dates ranging June through August, and the fourth unit is vacant and available for viewing.
Zoned R-NCB (Residential/Neighborhood Commercial), the property is located minutes from Blue Wahoos Stadium, downtown shopping, and restaurants, while remaining just outside the busiest area.
The property sits on a large lot enclosed by a wrought iron fence, with front and backyard green space, mature shade trees, and dedicated side parking intended to keep residents off the street overnight. Three units are currently leased with lease end dates ranging June through August, and the fourth unit is vacant and available for viewing.
Zoned R-NCB (Residential/Neighborhood Commercial), the property is located minutes from Blue Wahoos Stadium, downtown shopping, and restaurants, while remaining just outside the busiest area.
Key Highlights
- 1940 red brick fourplex in downtown Pensacola with central heating and central air
- Roof replaced in 2021 following Hurricane Sally
- 3 units currently leased (lease end dates June through August); 1 unit is vacant and available for viewing
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.3k | $16.20 |
| − Vacancy | −$6.7k | −$2.14 |
| EGI | $43.7k | $14.06 |
| − OpEx | −$13.1k | −$4.22 |
| NOI | $30.6k | $9.84 |
3,108 SF · lease $16.20/SF/yr · vacancy 13.21% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$437.0K
$382.4K – $509.8K
NOI $30,589 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$401.2K
$351.0K – $468.0K
NOI $28,082 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$912.2K
$798.1K – $1.06M
NOI $63,851 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
3,021
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - 1940s fourplex with one downstairs and two upstairs bedroom layouts, wood floors, granite countertops, and separately metered utilities.
Where is this quadplex located?
The property is located at 401 N Barcelona St Pensacola, FL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 1940 red brick fourplex in downtown Pensacola with central heating and central air; Roof replaced in 2021 following Hurricane Sally; 3 units currently leased (lease end dates June through August); 1 unit is vacant and available for viewing
