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2303 W Michigan Ave
Pensacola, FL 32526 Brent-NW Pensacola

$1,250,000 USD

Apartments For Sale  •  12,848 SF

Property Details

  • Property Type Apartments
  • Total Building Size 12,848 SF
  • Lot Size 0.57 AC
  • Building Class C
  • Year Built 1995
  • Zoning HDR (High Density Res)
30 Transit Score
30 Walk Score

Highlights

In-place rents average $1,140 vs. market rents of $1,250 — ~10% mark-to-market upside
All 12 units are 2BR/2BA at 100% occupancy — simple, highly rentable operating profile
Offered at $104,167/unit and $91.03/SF, below sales comp average of $112,700/unit
Year 3 stabilized NOI of approximately $110,325 as operations are optimized
Greater Pensacola market: 538,000+ population, 5.5% multifamily vacancy, 36% renter-occupied

Public Transportation

AirportDriveWalkDistance
Pensacola International 14 min - 6.2 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 24
Type: Surface
Included in Rent: Yes
Gabriel Pena 813-424-9797 Matthews™
Gabriel Pena 813-424-9797 Matthews™