Property Description:
This 3-bed, 2-bath, 1,580 sf townhouse built in 1973 is located just west of downtown Pensacola in a rental corridor near W Garden St and Pace Blvd. The property is vacant and needs a full cosmetic renovation. Structure appears solid, making this a low-entry investment close to downtown, Baptist Hospital redevelopment, and Pensacola Bay Center.
🛠️ Rehab Scope
- Full interior cosmetic rehab: flooring, paint, cabinetry, fixtures, and bathrooms
- Kitchen renovation with new appliances and counters
- Replace HVAC (buyer to assume expired permit #230411663ME)
- General electrical/plumbing updates as needed
- Exterior paint and minor siding/trim repairs
- Landscaping and pressure wash for curb appeal
🔵 Comparable Rentals
- 1200 N F St Unit B – 3/2 | 1,211 sf | $1,850/mo ($1.53/sf) – 2020 build
- 631 W Jordan St – 3/2 | 1,408 sf | $1,750/mo ($1.24/sf) – Renovated SFR
- 821 W Mallory St – 3/2 | 1,812 sf | $1,500/mo ($0.83/sf) – Average finish
- 2108 W Lakeview Ave – 3/2 | 1,632 sf | $1,300/mo ($0.80/sf) – Older home
Based on nearby renovated 3/2 rentals, market rent potential ranges $1,600–$1,800/month once updated. Renovated units in this pocket have been selling in the $125K–$1405K ARV range depending on finish quality and proximity to downtown.