15284 331 Business 2C,2D,3C,4B,4C,7C,14D,14E, Freeport, FL 32439

$1,039,000
Property Type: Commercial for Sale Status: Sold
Current Price: $1,039,000 List Date: 8/21/2020 Last Modified: 10/13/2024

Description

Cash flow multi-family opportunity at Palms of Freeport as a bulk sale. Over a $10,000 discount per unit offering a ~7% cap rate. Palms of Freeport has a 100% occupancy rate with a waiting list with rents as high as $1,250 a month in rental income. The units being sold as a package deal of 8 units including 2C, 2D, 3C, 4B, 4C, 7C, 14D, 14E. Each unit is 2-bedrooms, 2-baths totaling 1,109 sq ft and feature granite countertops, solid wood custom cabinets, stainless steel appliances, 18'' tile, travertine counters in bathrooms, New Orleans style paver entryways, and wooden decks on the back of each unit. The Palms of Freeport is a low density community of townhomes just 15 minutes from the beaches and offers great amenities including a pool and park. GREAT RENTAL INVESTMENT!!

Supplements: *Photos are from a model unit

More Information MLS# 853733

Contract Info

GCCMLS Number: 0 Listing Board: Emerald Coast List Date: 2020-08-21 List Price: $1,039,000

Location, Tax and Legal

Unit #: 2C,2D,3C,4B,4C,7C,14D,14E Sub Area: 2006 - N. of 20 to Hwy 331 Property Name: Palms of Freeport Legal Description: LOT 8 PALMS OF FREEPORT PB 18-18 OR 2824-2795 OR 2841-142

General Property Info

Listed on GCCMLS: No Vacant: No

Listing Info, Tax & Legal

As Is: No

Remarks & Misc

Remarks: Cash flow multi-family opportunity at Palms of Freeport as a bulk sale. Over a $10,000 discount per unit offering a ~7% cap rate. Palms of Freeport has a 100% occupancy rate with a waiting list with rents as high as $1,250 a month in rental income. The units being sold as a package deal of 8 units including 2C, 2D, 3C, 4B, 4C, 7C, 14D, 14E. Each unit is 2-bedrooms, 2-baths totaling 1,109 sq ft and feature granite countertops, solid wood custom cabinets, stainless steel appliances, 18'' tile, travertine counters in bathrooms, New Orleans style paver entryways, and wooden decks on the back of each unit. The Palms of Freeport is a low density community of townhomes just 15 minutes from the beaches and offers great amenities including a pool and park. GREAT RENTAL INVESTMENT!!

Class

Multi-Family: 1

Construction Status

Existing: 1

Multi-Family

Year Built: 2007 Building SqFt: 1109 # of Units: 9 Actual Gross Income: 116640 Expenses: 34711.29 Net Operating Income: 81928.71 Cap Rate: 7 # Stories/Buildings: 2

None

Current Price: $1,039,000

Status Change Info

Status: Sold Under Contract Date: 2020-10-31 Sold Date: 2020-12-04 Sold Price: $1,039,000

Location Tax and Legal

Area: 20 - Freeport Street #: 15284 Street Name: 331 Business State: FL Zip Code: 32439 County: Walton Parcel ID: 10-1S-19-23100-000-0080

Property Features

Class: Multi-Family Construction Status: Existing

Documents

Listing Office: EXP Realty LLC
Last Updated: October - 13 - 2024
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.