If you’re a knowledgeable investor looking for a unique opportunity in the real estate market, then look no further. A Florida fixer-upper house located at 211 W Cervantes Street is up for sale, and it comes with some attractive financing options.
The most exciting aspect of this property is that the buyer can assume a 12-month loan of $550,000 at an interest rate of 9% per annum. This means that you can acquire this six-unit apartment building with ease and start your renovation journey.
The building consists of six units, each with two bedrooms and two bathrooms, totaling 12 bedrooms and 12 bathrooms. The property is over 6,500 square feet in total and is situated in the historic area of North Hill, Florida. Its rich history dates back to its construction in 1908, making it a charming piece of real estate.
One of the standout features of this property is the common area inside, where each apartment can be accessed. Additionally, each apartment has porch access, providing a cozy outdoor space for residents. Ample on-site parking is available, ensuring convenience for tenants.
This fixer-upper already has some key updates in place. The building features a new architectural roof and new windows, providing a solid foundation for your renovations. Moreover, all engineering and planning for the project have been finalized, including building layout, structural, electrical, plumbing, HVAC, and sprinklers. Rough-ins for electrical, HVAC, and sprinklers have already been completed, saving you time and effort.
While the plumbing rough-in still needs to be completed, this is an excellent opportunity for you to bring your style and vision to life. As the buyer, you will have the freedom to select all fixtures and finishes, allowing you to create a unique and attractive living space for future tenants.
Originally intended for short-term rentals, this property has the potential to work well for any type of rental. Whether you’re considering long-term rentals or exploring other rental options, this fixer-upper allows for flexibility and customization.
For serious investors, the lender may be willing to fund 100% of an approved rehab budget if you have the funds to acquire the property. This is a fantastic opportunity to minimize your upfront costs and maximize your return on investment.
If you’re interested in this Florida fixer-upper, take a look at the MLS 624717 multi-family listing for more details. However, please note that serious inquiries are expected, and only cash or construction/renovation loan options will be considered.
Don’t miss out on this unique investment opportunity. With its historic charm, attractive financing options, and the ability to customize the property to your liking, 211 W Cervantes Street is waiting for a knowledgeable investor to bring it back to life.
211 W Cervantes, Pensacola, FL 32501