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672 S 72nd Ave, Pensacola, FL 32506
$630,000
672 S 72nd Ave, Pensacola, FL 32506View this property at 672 S 72nd Ave, Pensacola, FL 32506
672 S 72nd AvePensacolaFL32506
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Property Description
MARKET VALUE RENT: $57,600 ~ 100% occupied - always! **** Initial Note: Owner is also selling ANOTHER 4-plex directly across the parking lot (668 72nd Ave - MLS# 608363) and this will raise annual income to $105,000! * Both may be purchased together *********** This property is situated in an EXCELLENT location near NAS, NAVHOSP, VAHOSP & Corry Station and just 7-10 mins to Downtown Pensacola ** All 4 units are 2 bedrooms and extremely spacious with an open, comfortable and desirable living space ** The interior of each unit has been updated recently and are in well-kept condition ** The current tenants are all long-term tenants and the rents on all 4 have been increased as of June and will be increased again next June to $1200/month, which is the current market value (when you have long term tenants, must be careful not to raise rent too quickly & risk chasing them away, which is why we have raised slow) ******** Again, market value rent is approx. $58k, which is almost a 10 cap! *** The seller is a Lic Real Estate Broker who manages approx 400 rental units, and plans to make a few repairs that will also add desirability, minimize maintenance (thus mitigate long-term expenses) and increase the value of the complex! Just as important, it will increase the rent to market value (as indicated above) ** These updates include: New Roof (approx $15-20k) ~ New Hardie Board to the upstairs siding and eaves/overhangs (approx. $30k) ~ Paint the Brick (either a gray or white) (approx. $15k) ~ Asphalt the parking lot/driveway leading to parking lot (approx $15k) - Again, with these updates, the complex will be modernized, maintenance free and much more desirable! ** The list price is based on the seller paying for up to $35k of these repairs - once all are completed, if not under contract, the price shall increase to $650k ************************************** Please verify all information, features, dimensions, square footage, etc that are important to you!
Full Property Details
Full Property Details for 672 S 72nd Ave
General
- Sold For: $630,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 608840
- Added to Site: 711 day(s) ago
Rental Information
- Lease/Rent Term: 12 Months
Interior
- Fireplace: Yes
- Fireplace(s): Two or More
- Appliances: Electric Water Heater, Dishwasher, Electric Cooktop, Refrigerator
- Flooring: Tile, Carpet
Rooms
Bathrooms
- Total Bathrooms: 4
- Full Bathrooms: 4
Bedrooms
- Total Bedrooms: 8
Other Rooms
- Laundry: Inside, W/D Hookups
Exterior
- Exterior Features: Balcony
- Deck/Patio: Covered
Parking
- Parking Features: Parking Lot
Location
- County: Escambia
- Subdivision: Lake Charlene
- Driving Directions: Hwy 98 West - North on 72nd Ave - the complex is located on the right about 1/4 mile or so (turn at the fire hydrant). The drive is partial concrete and shell but the owner is in the process of having it asphalted very soon.
School Information
- Elementary School: Navy Point
- Middle School: Warrington
- High School: Escambia
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Central
Utilities
- Sewer: Public Sewer
- Water: Public
Structural Information
- Construction: Brick Veneer, Wood Siding, Frame
- Roof: Shingle
- Stories/Levels: 2
- Square Feet: 1,000
- Year Built: 1982
- Property Condition: Resale
Lot Features
- Road Maintenance: County Maintained Road
- Lot Features: Interior Lot
- Zoning: Res Multi
- Fencing (Description): Other, Privacy
Water Features
- Water Front Desc.: None
Financial Considerations
- Price Per Sq. Ft.: $170.27
Disclosures and Reports
- Property ID: 202S314110053006
Listed by Mark Downey & Associates, Inc.
Sold by Fathom Realty FL LLC
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Schools
Schools serving 672 S 72nd Ave
School District:Escambia County School District
Rating | Name | Grades | Distance |
---|---|---|---|
1321 Patton Dr, Pensacola, FL 32507 | PK-5 | 1.3 mi | |
450 S Old Corry Field Rd, Pensacola, FL 32507 | 6-8 | 2 mi | |
1310 N 65th Ave, Pensacola, FL 32506 | 9-12 | 1.8 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 672 S 72nd Ave
Date
Details
Price
Change
Source
7/26/2022
Sold
$630,000
5.88%
MLS
5/15/2022
Listed
$595,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
672 S 72nd Ave, Pensacola, FL 32506 (MLS# 608840) is a Multi-Family property that was sold at $630,000 on July 26, 2022. Want to learn more about 672 S 72nd Ave? Do you have questions about finding other Multi-Family real estate for sale in Pensacola? You can browse all Pensacola real estate or contact a Coldwell Banker agent to request more information.