Riverfront Quadplex with
5392 Munson Hwy Milton, FL 32570
New
For Sale
$500,000
MULTI_FAMILY - Milton, FL
Property Size3,600 SF
Price / SF$138.89
Days on Market1
Property Features for 5392 Munson Hwy
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
8
Rooms
Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 5, Bathroom 8, Bathroom 3, Bathroom 6, Bathroom 2, Bedroom 7, Bathroom 7, Bedroom 6, Bathroom 4, Bathroom 5, Bathroom 1, Bedroom 1, Bedroom 8
Parking features
Covered
Window features
Blinds
Patio and Porch features
Deck
Interior features
Storage, Baseboards, Ceiling Fan(s)
Appliances
Electric Water Heater, Built In Microwave, Dishwasher, Refrigerator
Standard status
Active
APN
342N285620001000120
Size
3,600 SF
Taxes and HOA fees
Tax Description
WATERFRONT SUB LOTS 12 & 13 BLK 1 & THE E 15 FT OF HILL ST SUBJ & TOGETHER WITH EASEMENT AS DES IN OR 4444 PG 1597 ALL AS DES IN OR 4559 PG 1014
Utilities
Utilities
Cable Available
Heating system
Central
Cooling system
Central Air
Water front features
Waterfront, River Front
Water front
1
Building Details
Year built
1984
Number of units
4
Flooring type
Tile, Simulated wood, Laminate
Building materials
Frame
Roof type
Composition
Additional Structures
Storage
Listing Agency:
KELLER WILLIAMS REALTY GULF COAST
(850) 471-5000
Listed By:
Matthew Jones · License #13462
(850) 471-5000
Added: Jul 28
Last Checked: Jul 28 at 8:06PM
MLS# 686607
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 riverfront quadplex offers four rental units, each with two bedrooms and two bathrooms and access to a private balcony. Units enter through a small foyer into an open kitchen and living area, with sliding glass doors leading to the balcony. The balcony includes a dedicated laundry area and provides an outdoor space overlooking the wooded riverfront. Each unit also has two bedrooms located down the hall, with at least one bedroom opening directly to the balcony; covered parking for the units is located beneath the building.
The property sits along the Blackwater River and is about half a mile from both Downtown Milton and Carpenter’s Park, which features a public boat launch, river access, playground, and green space. The riverfront is natural and wooded, and the property previously had a dock.
All four units are currently leased with staggered expirations of 7/30/2027, 9/30/2026, 12/31/2026, and 2/28/2027. Tenants pay their own utilities, and the owner covers lawn care.
The property sits along the Blackwater River and is about half a mile from both Downtown Milton and Carpenter’s Park, which features a public boat launch, river access, playground, and green space. The riverfront is natural and wooded, and the property previously had a dock.
All four units are currently leased with staggered expirations of 7/30/2027, 9/30/2026, 12/31/2026, and 2/28/2027. Tenants pay their own utilities, and the owner covers lawn care.
Key Highlights
- Riverfront quadplex with four units, each offering 2 bedrooms and 2 bathrooms
- All four units are leased; rents are $1,200/month (3 units) and $1,150/month (1 unit)
- Staggered lease expirations: 9/30/2026, 12/31/2026, 7/30/2027, and 2/28/2027
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 | $49.7k | $13.80 |
| − Vacancy | −$2.6k | −$0.72 |
| EGI | $47.1k | $13.08 |
| − OpEx | −$14.1k | −$3.92 |
| NOI | $33.0k | $9.16 |
3,600 SF · lease $13.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$471.0K
$412.1K – $549.5K
NOI $32,968 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$414.8K
$362.9K – $483.9K
NOI $29,035 @ 7.0% cap · market cap 5.81%
Theoretical Best
Office A
$886.5K
$775.7K – $1.03M
NOI $62,052 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Four leased units each feature two bedrooms, two bathrooms, and private balconies along the Blackwater River.
Where is this quadplex located?
The property is located at 5392 Munson Hwy Milton, FL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Riverfront quadplex with four units, each offering 2 bedrooms and 2 bathrooms; All four units are leased; rents are $1,200/month (3 units) and $1,150/month (1 unit); Staggered lease expirations: 9/30/2026, 12/31/2026, 7/30/2027, and 2/28/2027
