700 Palm Blvd, Niceville, FL 32578
- $1,500,000
- 2
- BD
- 1
- BA
- List Price
- $1,500,000
- Status
- ACTIVE
- Days on Market
- 246
- MLS#
- 674157
- Subtype
- Residential Income
- Construction Status
- Resale
- Year Built
- 1985
- Bedrooms
- 2
- Bathrooms
- 1
- Full Baths
- 1
Property Description
Discover the potential of this well-maintained 8-unit apartment complex, perfectly positioned for steady rental income and future growth. The property consists of two buildings connected by a breezeway, offering a cohesive layout and convenient access for residents. Each of the eight units features 2 bedrooms, 1 full bath, a comfortable living room, a dedicated dining area, and a functional kitchen equipped with an electric oven, pantry, and refrigerator. Four units are currently tenant-occupied with varying lease terms, providing immediate income while leaving room for strategic updates or new tenants as desired. Sitting on a generously sized lot, this property offers rare development flexibility. There is ample space to expand up to 15 total units, allowing the addition of another apartment building, townhomes, or even single-family homes—making it an ideal opportunity for both seasoned investors and developers. Located just down the road from Northwest Florida State College and nearby medical facilities, the demand for quality rental housing in this area remains strong. With its prime location, existing income, and room to grow, this property is truly a standout investment with unlimited potential.
Additional Information
- Interior Features
- Storage, Baseboards, Ceiling Fan(s), High Speed Internet
- Flooring
- Tile, Vinyl
- Appliances
- Electric Water Heater, Dishwasher, Refrigerator
- Heating
- Central
- Air Conditioning
- Ceiling Fan(s), Central Air
- Exterior Construction
- Frame
- Stories
- 2
- Levels
- Two
- Roof
- Shingle
- Foundation
- Slab
- Parking
- 1 Space/Unit, Guest
- Elementary School
- Local School In County
- Middle School
- LOCAL SCHOOL IN COUNTY
- High School
- Local School In County
Mortgage Calculator
Listing courtesy of KELLER WILLIAMS REALTY GULF COAST.
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