17 Unit Mixed Use Building – W FAIRFIELD DR. PENSACOLA, FL 32506 For Sale

  • $199,900
  • 19 beds
  • 8.5 baths
  • 6,487 sqft

Huge upside potential with this 17 unit, concrete block, high density mixed use building located in Pensacola, FL. The property was previously used as an assisted living facility. Current owner was planning to make it into a short and long term rental property for general residency but has decided to liquidate. This is a two story building consisting of (2) 2/1 units upstairs along with a full kitchen. The ground floor has 15 private rooms along with 4.5 bathrooms and a two large communal kitchens. New flooring, duct work, and AC system were recently upgraded. The property will need a new roof as well light interior and exterior updating. A savvy investor has several income generating options here. Convert the property back to an assisted living facility, rent monthly as a boarding cooperative, or even rent to commercial tenants as executive office suites. The chosen strategy will determine monthly cash flow. We estimate a range of $7200 to $20,000 per month.

Rental Income:  $7,200 mo. / $86,400 yr.
Closing Costs to Buy:  $5,000
Rehab Projection:  $58,000
Utilities:  $13,200
Property Insurance:  $5,000 / yr.
Estimated Taxes:  $1,947 / yr.
Property Management:  $8,640 / yr.
Maintenance:  $5,000 / yr.
Projected Income:  $65,813
Estimated APY:  23.84%

W. Fairfield Drive
Pensacola, Florida 32506
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For Sale
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Call 321-766-9338 for more details

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