Multi-Family

Building SqFt

42000

# of Units

55

Vacancy Rate

95

Net Operating Income

428000

Location, Tax and Legal

Sub Area

2308 - Spring Lake/Argyle

Property Name

Riviera Place Apts

Legal Description

Multiple meets & bounds:1/10TH INT IN N2 OF BLK 1536 SEC 25-3N-19W LESS COM WHERE N LINE BLK 1536 INTERSECTS W ROW DAVIS LANE,S 00 DEG 35'01''E ALG ROW 167.64 FT FOR POB,S 88 DEG 58'24''W 559.78 FT RADIUS POINT OF CUL-DE-SAC DELTA 286 DEG 15' 46'' ARC 248.81 FT TO POB. OR 399-680 OR 3003-4523 OR 3244-4375

Listing Info, Tax & Legal

As Is

No

Remarks & Misc

Remarks

Introducing a prime investment opportunity in Northwest Florida! Discover a meticulously renovated 42,000 SF, 55-unit multifamily gem, boasting a prime location zoned for Multifamily use. This property is a beacon of opportunity, with a track record of exceptional performance evidenced by its impressive 95% occupancy rate. Featuring modern amenities and thoughtful design, this low-rise/garden property represents a compelling prospect for prospective investors seeking a turnkey opportunity in the flourishing Northwest Florida market. Discover the charm and potential of the Defuniak Springs, FL area. Nestled in Northwest Florida, this locale offers a captivating blend of small-town ambiance and strategic positioning.

Class

Income Producing

Yes

Multi-Family

Yes

Construction Status

Existing

Yes

Property Features