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$898,000

  • For Sale
  • Active
  • Multi-Family
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Big Price Reduction! Presenting Rivers Rae, a premium four-unit investment property offering unparalleled potential for both long-term stability and high-income short-term rental returns. Nestled in the quiet, scenic town of Carrabelle on Florida's Forgotten Coast, this completely renovated four-unit townhome building is perfect for savvy investors. With modern upgrades, high rental income potential, and a location that appeals to beach lovers, outdoor enthusiasts, and vacationers, Rivers Rae is an exceptional opportunity for growth. Renovations: all new electric, plumbing, windows, exterior and interior doors, lighting, water heaters, bathrooms, luxury vinyl plank flooring. Newly configured Eat-in-Kitchen with breakfast bar, appliance packages that include dishwasher, stove, microwave and refrigerators with solid surface countertops over clean white cabinetry. Crown molding, recessed lighting, neutral tones, and tall vanities add sophistication and comfort. Inviting backyards with covered patio and privacy fencing. All units are fully furnished and turnkey ready for short term or long-term rentals. 2025 bookings at $96,500. Schedule a tour today!

Full Property Details for 510 W 8th St #1,2,3,4

General

  • Price: $898,000
  • Status: Active
  • Type: Multi-Family
  • Source: 933
  • MLS ID: 320794
  • Updated: 12/13/2025
  • Added to Site: 347 day(s) ago

Interior

  • Rooms/Areas: Blinds
  • Interior Features: Breakfast Bar, Ceiling Crown Molding, Lighting Recessed, Newly Painted, Renovated, See Remarks, Washer/Dryer Hookup, Window Treatment All, Woodwork Painted
  • Appliances: Clothes Dryer, Clothes Washer, Dishwasher, Disposal, Microwave, Refrigerator w/Ice Maker, Stove/Oven Electric, Water Heater Electric
  • Furnishings: Furnished
  • Flooring: Luxury Vinyl, Plank

Rooms

Bathrooms

  • Total Bathrooms: 8
  • Full Bathrooms: 4
  • Half Bathrooms: 4

Bedrooms

  • Total Bedrooms: 8

Exterior

  • Exterior Features: Renovated
  • Porch/Patio/Deck: Covered Patio, Covered Porch, Front Porch

Parking

  • Parking Features: Space/Unit

Location

  • Area: Carrabelle
  • Subdivision: Picketts Add
  • Building Name: Rivers Rae
  • Driving Directions: Hwy 98 Carrabelle turn north on W 8th St. Proceed 4 blocks. Property on Right

Heating & Cooling

  • Cooling Type: Central Electric, Heat Pump
  • Heating Type: Central Electric, Heat Pump

Utilities

  • Sewer: Public Sewer
  • Water: Public
  • Utility Description: Cable Available, Electricity Connected, Internet Available, Sewer Connected, Water Connected

Structural Information

  • Architectural Style: 2+ Story, Fourplex, Townhouse
  • Construction Status: Construction Complete
  • Exterior Const.: Block, Concrete
  • Square Feet: 4,672
  • Living Area: 4,672 Sq. Ft.
  • Year Built: 1981

Unit Information

  • Occupancy Rate: Tenant

Lot Features

  • Lot Dimensions: 100 x 109
  • Lot Features: Level, Within 1/2 Mile of Water
  • Fencing (Description): Back Yard, Privacy

Financial Considerations

  • Terms: Cash, Conventional

Disclosures and Reports

  • Special Conditions: As Is
  • Legal Description: BL E R 13 131 LOT 6 & 7 PICKETTS ADDITION OR 111/493 ORB 0163 PAGE 0122 ORB 318/64 632/17 634/458 1278/315
  • Inclusions: Everything as seen
  • Flood Zone Info: X
  • Property ID: 20-07S-04W-4230-0E13-0060

Listed by Coastal Realty Group-Carrabelle

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Listing agents

— 510 W 8th St #1,2,3,4 —

  • Coastal Realty Group-Carrabelle

  • Coastal Realty Group-Carrabelle

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 510 W 8th St #1,2,3,4

School District:Franklin County School District, Eastpoint, FL
NameGradesDistance
Franklin County Schools Pk-12
1250 U.S. 98, Eastpoint, FL 32328
PK-1210.7 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 510 W 8th St #1,2,3,4 Get Price Alerts and Save Property

Date
Details
Price
Change
Source
12/13/2025
Price Reduced
$898,000
-6.94%
MLS
10/06/2025
Price Reduced
$965,000
-3.02%
MLS
2/04/2025
Listed
$995,000
—
MLS
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 510 W 8th St #1,2,3,4

Year
Property Taxes
Change
Tax Assessment
Change
2024
$3,375
-4%
$203,067
-2%
2023
$3,527
69%
$207,529
71%
2022
$2,091
-4%
$121,176
5%
2021
$2,177
—
$114,971
-2%
2021
$2,177
-5%
$117,160
5%
2019
$2,302
-7%
$112,070
-4%
2018
$2,474
9%
$116,449
8%
2017
$2,279
-3%
$107,489
-4%
2016
$2,360
—
$111,868
—
2015
$2,366
-9%
$111,868
-8%
2014
$2,593
—
$121,897
-2%
2013
$2,600
—
$124,087
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 510 W 8th St #1,2,3,4

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by Coastal Realty Group-Carrabelle

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510 W 8th St #1,2,3,4, Carrabelle, FL 32322 (MLS# 320794) is a Multi-Family property with units containing 8 bedrooms, 4 full bathrooms and 4 partial bathrooms. 510 W 8th St #1,2,3,4 is currently listed for $898,000 and was received on February 04, 2025. Want to learn more about 510 W 8th St #1,2,3,4? Do you have questions about finding other Multi-Family real estate for sale in Carrabelle? You can browse all Carrabelle real estate or contact a Coldwell Banker agent to request more information.

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