Homes for sale - 3378 Lodging Cir, Pace, FL 32571

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Sean Howard

sean@seanhoward.com +1(251) 422-6044

Listed by Matthew Jones • KELLER WILLIAMS REALTY GULF COAST

$ 1,100,000

Est. payment | -/mo

16 Beds

8 Baths

6,144 SqFt

Save

$ 1,100,000

Est. payment | -/mo

Save

16 Beds

8 Baths

6,144 SqFt

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Contingent

Purchase Type For Sale

Square Footage 6,144 sqft

Price per Sqft $179

MLS Listing ID 649500

Bedrooms 16

Full Baths 8

HOA Y/N No

Originating Board Pensacola MLS

Year Built 1984

Property Description

8 quality units in the heart of Pace and located just a half mile north of the popular and growing 5 points intersection where you'll find the new Starbucks and Publix! All units are 2 bedroom / 1 bath and have: central heat & air, open living room and kitchen layout with washer dryer connections in the unit and a private patio plus a dedicated storage room outside the unit. The current gross rent is $8400 per month but with the 3 most recent vacant units renting for $1250 per month there is room to increase revenue. 4 Units have been totally remodeled and rent has been increased but the other 4 units offer opportunities to increase your return through value add improvements and higher rent. Conveniently, all leases under $1150 are month to month and all leases at $1150 and up are locked into a lease up to 1 year. The property has been well kept and the current owners have made over $75k in capital improvements(Interior renovation, fences, paved parking area, new windows in 2 units) in the last few years. Each unit is separately metered and the tenants pay their own utilities. The owner pays the electric bill for the lift station and splits the bill for the dumpster with the neighboring property. Lodging Cir is a small private circle drive community made up of 4 quadplexes with trees surrounding the neighborhood and a large area of green grass in the center. The current offering of 3378 & 3386 Lodging Cir sit next door to each other. Both buildings received a new roof in 2021. This is the ideal rental, it makes good money today but still offers lots of upside for the new owner!

Location

State FL

County Santa Rosa

Rooms

Other Rooms Workshop/Storage

Interior

Heating Central

Cooling Central Air

Flooring Tile

Appliance Electric Water Heater, Dishwasher, Refrigerator

Exterior

Parking Features 2 Space/Unit

Fence Privacy

View Y/N No

Roof Type Shingle

Garage No

Building

Lot Description Corner Lot, Interior Lot

Faces Heading North on Chumuckla Hwy, the turn in is on your left approximately .4 miles north of 5 points and immediately south of Tunnel Rd.

Story 1

Water Public

Structure Type Frame

New Construction No

Others

Tax ID See Attachment #1

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(251) 422-6044

sean@seanhoward.com

3378 Lodging Cir Pace, FL 32571