1843 San Dollar Cir

Description

This centrally located triplex in Pensacola, Florida, offers a strong value-add opportunity for investors. Conveniently situated at the end of a cul-de-sac near shopping, dining, and major roadways, the property consists of three 2-bedroom, 1-bathroom units, each approximately 920 square feet. All units are currently occupied with leases ending in August, October, and December of this year. The current monthly rental rates are as follows: Unit 1843 rents for $1,250, Unit 1845 rents for $1,195, and Unit 1847 rents for $1,000, totaling $3,445 in monthly income. The estimated market rent for each unit is approximately $1,300 to $1,325 per month, presenting significant upside potential as leases turn over. The building features a new roof installed in 2022 and a covered front porch that spans the entire front of the property. Each unit has its own designated parking, backyard, washer and dryer connections, and access to a dedicated storage space in a detached storage building. These storage spaces are not currently monetized but could offer additional revenue. Unit 1843 was remodeled in 2022, and its HVAC system was replaced in 2023 with a unit that includes a transferable 10-year warranty. Unit 1845 was remodeled in 2021, with its HVAC system also replaced in 2023 and under the same warranty. Unit 1847 is currently rented below market value, providing immediate room for increased cash flow upon lease renewal. Tenants pay all utilities. This is an excellent opportunity for investors seeking a well-maintained, income-producing asset with clear potential for rent growth and additional revenue streams.