515 Palomar Dr. Pensacola, FL 32507
Great Income Producing Opportunity! 8 unit building with excellent rental history, rare vacancies and elite location. Potential Cap rate 7.2% or higher, for cash investors. Located right outside the main entrance of the Naval Air Station and on the "Preferred" list on Navy Housing. Effective age of the building is 9 years old. All units went under complete renovation in 2006. All units are identical with the exception of flooring; 4 downstairs units feature tile flooring while 4 upstairs units feature wood flooring. All units consist of 1 bedroom and 1 full bathroom. The kitchens are fully equipped with built in microwave oven, electric stove, dishwasher and side by side refrigerators. The dining area offers a large storage closet/pantry. The living rooms are ample enough to provide comfort and for convenience, all units feature washer and dryers. For safety, the building offers anterior and posterior exits. Tenants also have access to a common picnic area, and the parking lot offers additional parking for guest. The area is perfect for walking, jogging or biking. Less than a mile away is Navy Point Boat Ramp, which offers public deep water access and is only about 20 mts away from the pass to the gulf of Mexico. This area is great for boating, kayaking and amazing fishing right off the bay. This property has a lot to offer for both the investor and the residents; as the investor you can count on low vacancies and low overhead, which results in a great potential gross income, while the residents will love the convenient location, prestige and condition of the property and all units. Located only minutes from the Naval Air Station, Naval Hospital, downtown Pensacola, shopping, dining, beaches and Intertate-10. Call today for additional information or to schedule a private tour!
Doria Davis, PMN
Main Street Properties
850-291-0684
www.DoriaDavis.com
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