$8,700,000
Other, FL Other
MLS# 900407
Status: Sold
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Property Description
Welcome to Mona Lisa Apartments! This property, nestled between New LLano and Leesville, offers the multifamily investor an opportunity to acquire a well-maintained asset located in a limited supply submarket with a higher than average rental base. Additionally, this asset has a rent delta of $134-$164 on average per unit vs. the market leading assets and should be able to easily close the gap with a limited value add campaign and management push to maximize returns.
Details
Contract Info
GCCMLS Number: 30803833
Listing Board: Emerald Coast
List Date: 2022-05-23
List Price: $9,500,000
Location, Tax and Legal
Sub Area: 3006 - Other Counties
Property Name: Mona Lisa Apartments
Legal Description: N/A
General Property Info
Listed on GCCMLS: Yes
Description: Mona Lisa Apartments
Lot SqFt: 115004
Acreage: 7.5
Listing Info, Tax & Legal
As Is: No
Remarks & Misc
Remarks: Welcome to Mona Lisa Apartments! This property, nestled between New LLano and Leesville, offers the multifamily investor an opportunity to acquire a well-maintained asset located in a limited supply submarket with a higher than average rental base. Additionally, this asset has a rent delta of $134-$164 on average per unit vs. the market leading assets and should be able to easily close the gap with a limited value add campaign and management push to maximize returns.
Class
Income Producing: 1
Multi-Family: 1
Other: 1
Construction Status
Existing: 1
Lot Features
Coastal Barrier Zone: No
Income Producing
Year Built: 1987
Building SqFt: 115004
Price P/SqFt: 79
Cap Rate: 5.6
Property Type: Multi-Family
Multi-Family
Year Built: 1987
Building SqFt: 115004
# of Units: 144
Price P/SqFt: 79
Vacancy Rate: 1
Cap Rate: 5.6
# Buildings: 16
# Stories/Buildings: 2
Other
# of Units: 144
None
Current Price: $8,700,000
Status Change Info
Status: Sold
Under Contract Date: 2022-11-05
Sold Date: 2022-11-05
Sold Price: $8,700,000
Location Tax and Legal
Area: 30 - Other Counties
Street #: 240
Street Name: Clarence
Street Suffix: Avenue
State: FL
Zip Code: Other
County: Other
Parcel ID: N/A
Property Features
Class: Income Producing; Multi-Family; Other
Construction Status: Existing
Listing Office: Coastal Luxury
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.
