4525 9Th Ave Pensacola, FL 32503
- Residential income homes
- 4,452 SF
- 0.86 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 4525 9Th Ave
- Lot size
- 0.86 lot acres
- Property size
- 4,452 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a portfolio of three single-family homes located in Pensacola, Florida, on N 9th Ave, near Cordova Mall. The portfolio boasts a total of 4,452 square feet across three buildings, each a single-story brick structure. Built between 1964 and 1967, these properties underwent extensive renovations in 2022 and 2023, resulting in a Class A designation. The portfolio includes 11 bedrooms and 8 full bathrooms. Two units feature full impact windows, and two boast new architectural shingle roofs. Two units are available fully furnished, while all three are equipped with basic appliances and central heating and air conditioning. The properties sit on a 0.855-acre lot and are zoned R-1AAA, allowing for flexibility in usage. Currently operating at 66.6% occupancy, the portfolio generates a strong pro-forma NOI of $65,000, representing a 6.19% pro-forma cap rate. The asking price is $1,050,000, translating to $350,000 per unit and $235.85 per square foot. This stabilized investment offers a compelling opportunity for both short-term and long-term rental income. The convenient location near Cordova Mall adds significant value to this already attractive offering.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Pensacola
- County
- Escambia
- State
- Florida
- Longitude
- -87.214179993431
- Latitude
- 30.46407949896
