1515 Lakeview Ave Pensacola, FL 32503

This exceptional East Hill, Pensacola multifamily property presents a unique investment opportunity. Located on desirable Lakeview Avenue, directly across from a well-maintained public park, this 1936-built, 2-story building underwent renovations in 2000. Boasting 6,200 square feet of net rentable space, the property comprises four units, currently at 100% occupancy until October 1, 2024. The building features a mix of period architecture and modern conveniences, including a six-car garage benefiting both owners and tenants. Unit A offers 1,600 square feet with an upscale kitchen, one bedroom, and two baths, while Units B, C, and D each include two bedrooms and two baths, with sunrooms and additional features. Apartment A's layout allows for a potential guest room conversion. An elevator connects Apartments A and C. The property sits on a 0.36-acre lot and is zoned residential. The current Net Operating Income (NOI) is $44,000, with potential for significant increase upon lease renewals in 2024. This property offers substantial value, with a price per square foot below the area's residential average. The building's location, combined with its size and features, makes it an ideal owner-user property, offering flexibility for various uses, including partial or full leasing. The asking price is $1,300,000.