MARKET VALUE RENT: $57,600 ~ 100% occupied - always! **** Initial Note: Owner is also selling ANOTHER 4-plex directly across the parking lot (668 72nd Ave - MLS# 608363) and this will raise annual income to $105,000! * Both may be purchased together *********** This property is situated in an EXCELLENT location near NAS, NAVHOSP, VAHOSP & Corry Station and just 7-10 mins to Downtown Pensacola ** All 4 units are 2 bedrooms and extremely spacious with an open, comfortable and desirable living space ** The interior of each unit has been updated recently and are in well-kept condition ** The current tenants are all long-term tenants and the rents on all 4 have been increased as of June and will be increased again next June to $1200/month, which is the current market value (when you have long term tenants, must be careful not to raise rent too quickly & risk chasing them away, which is why we have raised slow) ******** Again, market value rent is approx. $58k, which is almost a 10 cap! *** The seller is a Lic Real Estate Broker who manages approx 400 rental units, and plans to make a few repairs that will also add desirability, minimize maintenance (thus mitigate long-term expenses) and increase the value of the complex! Just as important, it will increase the rent to market value (as indicated above) ** These updates include: New Roof (approx $15-20k) ~ New Hardie Board to the upstairs siding and eaves/overhangs (approx. $30k) ~ Paint the Brick (either a gray or white) (approx. $15k) ~ Asphalt the parking lot/driveway leading to parking lot (approx $15k) - Again, with these updates, the complex will be modernized, maintenance free and much more desirable! ** The list price is based on the seller paying for up to $35k of these repairs - once all are completed, if not under contract, the price shall increase to $650k ************************************** Please verify all information, features, dimensions, square footage, etc that are important to you!