$5,895,000
DeFuniak Springs, FL 32433
MLS# 969286
1 / 14
Property Description
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.
Details
Contract Info
GCCMLS Number: 41977393
Listing Board: Emerald Coast
List Date: 2025-02-17
List Price: $5,895,000
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
General Property Info
Listed on GCCMLS: Yes
Vacant: No
Immediate Occupancy: No
Acreage: 341
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: 1
Multi-Family: 1
Construction Status
Existing: 1
Income Producing
Year Built: 1986
Building SqFt: 42000
Net Operating Income: 428000
Property Type: Multi-Family
Multi-Family
Building SqFt: 42000
# of Units: 55
Vacancy Rate: 95
Net Operating Income: 428000
None
Current Price: $5,895,000
Status Change Info
Status: Active
Location Tax and Legal
Area: 23 - North Walton County
Street #: 125
Street Direction: N
Street Name: Davis
Street Suffix: Lane
State: FL
Zip Code: 32433
County: Walton
Parcel ID: 25-3N-19-19070-001-536A
Property Features
Class: Income Producing; Multi-Family
Construction Status: Existing
Listing Office: SVN Riviera Commercial
Last Updated: March - 23 - 2026
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.
