***REDUCED $25,000 FOR QUICK SALE***
Investment money maker in the heart of Milton and walking distance to Downtown, with a beautiful waterfront boardwalk and quaint and quirky shops and restaurants! Listed for $225,000 / $45,000 per door, this is a great rental investment property.
**Brand new HVAC inside and out installed Unit A $5900 May 2019, new units installed for Units C and D, inside and out $3647 October 2018, and Unit B outside $2690 August 2018**This unique apartment building contains 5 units. Laundry facility on site, with parking in the rear. Beautiful 2nd story deck was replaced in 2013. Nice park with fountain across the street. Unit A- $725/mo (needs work-currently vacant as of May 2019), Unit B- $775/mo, Unit C- $725/mo, Unit D- $685/mo, Unit E- $600/mo, for an annual gross income of $42120. Annual Expenses include: $3425 gas/water/sewer/garbage, $7293 electric, $1644 property taxes, $1972 insurance, $4200 property management, for a potential cap rate of 10% ($23,586 net income) with current income and expenses, or 12% ($27,786 net income) if managing the property yourself. Call Trish Sarfert, Gulf Coast Home Experts at 850-449-0908 for more information or to schedule an appointment to view the property. So as not to disturb tenants with unqualified buyers, property will only be shown to purchasers who can show proof of cash or commercial loan approval. **DO NOT DISTURB TENANTS** BY APPOINTMENT ONLY**