3101 Mallory St Pensacola, FL 32505
- Apartment buildings
- 3,589 SF
Current Use by Public Records
- Apartment buildings
Property Details for 3101 Mallory St
- Property size
- 3,589 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a six-unit apartment building situated on a sizable 19,127 square foot lot in Pensacola, Florida. The property, built in 1971 and 1976, consists of two single-story buildings totaling 3,589 square feet of net rentable space. Currently vacant, the property offers a significant value-add potential. The exterior has recently undergone improvements including new roofs, windows, doors, and a fresh coat of paint. However, all six one-bedroom, one-bathroom units require substantial interior rehabilitation. The property boasts ten parking spaces and is zoned MDR. Located in an Opportunity Zone, this investment benefits from tax incentives. The asking price is $449,000, representing a price per unit of $74,833.33 and a price per square foot of $125.10. A pro-forma cap rate of 17.59% and a pro-forma NOI of $79,000 are projected. The property is conveniently located approximately ten minutes from the airport and downtown Pensacola, and twenty minutes from Pensacola Beach. The seller has paid all liens, ensuring a clear title. The property is sold as-is, with seller financing available. Principal end buyers only
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pensacola
- County
- Escambia
- State
- Florida
- Longitude
- -87.2525
- Latitude
- 30.4299
