700 N Palm Blvd new Save Request In-Person Tour Request Virtual Tour
Niceville,FL 32578
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 7,052 sqft
Price per Sqft $212
MLS Listing ID 674157
Bedrooms 2
Full Baths 1
HOA Y/N No
Year Built 1985
Property Sub-Type Apartment
Source Pensacola MLS
Property Description
Discover the potential of this well-maintained 8-unit apartment complex, perfectly positioned for steady rental income and future growth. The property consists of two buildings connected by a breezeway, offering a cohesive layout and convenient access for residents. Each of the eight units features 2 bedrooms, 1 full bath, a comfortable living room, a dedicated dining area, and a functional kitchen equipped with an electric oven, pantry, and refrigerator. Four units are currently tenant-occupied with varying lease terms, providing immediate income while leaving room for strategic updates or new tenants as desired. Sitting on a generously sized lot, this property offers rare development flexibility. There is ample space to expand up to 15 total units, allowing the addition of another apartment building, townhomes, or even single-family homes—making it an ideal opportunity for both seasoned investors and developers. Located just down the road from Northwest Florida State College and nearby medical facilities, the demand for quality rental housing in this area remains strong. With its prime location, existing income, and room to grow, this property is truly a standout investment with unlimited potential.
Location
State FL
County Okaloosa
Zoning Res Multi
Rooms
Kitchen Laminate Counters,Pantry
Interior
Interior Features Storage,Baseboards,Ceiling Fan(s),High Speed Internet
Heating Central
Cooling Ceiling Fan(s),Central Air
Flooring Tile,Vinyl
Appliance Electric Water Heater,Dishwasher,Refrigerator
Exterior
Parking Features 1 Space/Unit,Guest
Utilities Available Cable Available
Waterfront Description None
View Y/N No
Roof Type Shingle
Garage No
Building
Lot Description Central Access
Faces N. on Hwy 85 to right on College Blvd to right on Palm Blvd. Complex will be on the left.
Story 2
Water Public
Structure Type Frame
New Construction No
Others
Tax ID 051S22256B00150080
Security Features Smoke Detector(s)
Virtual Tour https://youtu.be/za0K5Qo11Tw