1224 E Strong St, Pensacola

Listing Courtesy of Matthew Jones KELLER WILLIAMS REALTY GULF COAST 850-490-1290

This historic East Hill property had the original home, prior to additions, built in 1918. It has since transformed into a charming income property with five apartments and three rentable storage/garage spaces. Its desirable R2 zoning (residential/office) allows for multiple uses with excellent redevelopment potential (up to eight residential units). There is also potential to convert the existing garage/shed into additional living space. It is conveniently located only one block from the 12th Ave Publix and less than 2 miles from downtown Pensacola. This prime location is ideal for both short and/or long-term rentals. Each of the five units has a different floor plan. Bedroom/bath counts include: one 2/2, one 2/1, two 1/1, and one studio with vaulted ceilings. The 2/2 also includes a private fenced backyard. Interior finishes showcase various original trim and moldings, vintage doors and hardware, heart pine hardwood floors, two clawfoot tubs, high ceilings, decorative fireplaces, and a wrap-around front porch. Each apartment is individually metered for electric. Therefore, the owner covers water, sewer, trash, and an electric for both the exterior lighting and coin operated common laundry that is shared between units A-D. Unit E has a private laundry room in the unit. Additional income growth potential exists for the coin-operated laundry. Key updates enhancing the value and appeal consist of new roofs for the main structure and garage in 2021 and predominantly newer HVACs which are solely central heat and air. All plumbing and electrical systems have been completely upgraded. Unit B was completely remodeled in 2023 with new K&B cabinets, countertops, floorcovering, paint, etc. And rarely do income properties in this location offer (2) parking spaces per unit onsite. Both old world charm and functionality make this well-maintained property a uniquely attractive income opportunity - additional details are available upon request.