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INVESTOR'S DREAM!!!Unbelievable Cash Flow opportunity in one of the most desirable locations in Fort Walton Beach!These 6 Beach Bungalows are the ''Unicorn'' opportunity that everyone dreams about.Rare oversized .4 acre lot that can be subdivided, or an additional duplex can be added - increasing value exponentially!Duplex 1: Two 504 sq/ft bungalows, each occupied with long-term leases totaling $2,200+ a month.Duplex 2: Two 504 sq/ft bungalows, each occupied with long-term leases totaling $2,200+ a month.Duplex 3: Two 400 sq/ft bungalows, each occupied with long-term leases totaling $2,200+ a month. All this, and less than 2 minutes to Uptown Station, and 1.5 miles to the Sugar White Sands of the Gulf.Over $79k annually in rentals. Blink and you'll miss it! The numbers say it all... Nearly 8% annual return on investment (13% including appreciation), and an incredible CAP rate of over 8.5% in an area that has averaged right at 6% all year. The owner lives out of state and can no longer manage this incredible property, so their loss is your gain!!!
| DAYS ON MARKET | 8 | LAST UPDATED | 12/13/2024 |
|---|---|---|---|
| TRACT | NORTH HILL GARDENS | YEAR BUILT | 1956 |
| COMMUNITY | 12 - Fort Walton Beach | COUNTY | Okaloosa |
| STATUS | Active | PROPERTY TYPE(S) | Condo/Townhouse/Co-Op |
| Elementary School | Elliott Point |
|---|---|
| Jr. High School | Meigs |
| High School | Choctawhatchee |
| ADDITIONAL DETAILS | |
| AIR | Ceiling Fan(s), Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Cooktop, Refrigerator |
| AREA | 12 - Fort Walton Beach |
| CONSTRUCTION | Block |
| LOT | 0.4 acre(s) |
| LOT DESCRIPTION | Level |
| LOT DIMENSIONS | 128' Street x 125' East x 151' Rear x 12 |
| SEWER | Public Sewer |
| STORIES | 1 |
| STYLE | Duplex |
| SUBDIVISION | NORTH HILL GARDENS |
| UTILITIES | Cable Available |
| WATER | Public |
| ZONING | Resid Multi-Family |
| SATELLITE VIEW |
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This IDX solution is (c) Diverse Solutions 2024.
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