907 N 57Th Ave Pensacola, FL 32506

Property Details for 907 N 57Th Ave

Year built

1940

Lot size

0.41 lot acres

Property size

1,880 SF

Property type

Residential income homes

APN

352S302500150012

Description

This exceptional multifamily investment opportunity in Pensacola, Florida, presents two charming, single-family homes situated on a 0.408-acre lot in the desirable Myrtle Grove neighborhood. The property, encompassing 1,880 square feet, consists of two one-story buildings, each with its own unit, built in 1940. Currently boasting 100% occupancy, this property offers immediate income generation. One unit, located at 907 N 57th Ave, rents for $1,095 per month with a lease expiring February 29, 2024, and has been occupied since September 26, 2020. The second unit, at 909 N 57th Ave, commands $825 per month, also with a lease expiring February 29, 2024, and occupied since March 9, 2023. Both homes have recently had their roofs replaced, minimizing future maintenance expenses. The property is zoned MDR and offers a strong rental history, making it an ideal addition to any investment portfolio. Its convenient location near schools, grocery stores, and healthcare facilities, coupled with the proximity to attractions like the Naval Aviation Museum and Perdido Key beaches, enhances its appeal. The asking price is $229,000, translating to $121.81 per square foot. This represents a compelling opportunity for investors seeking a proven income-generating asset in a thriving coastal city. The property includes two parcels, as indicated by the APN 352S302500150012.