Investment Overview

Marcus & Millichap is proud to present Perdido Manor Apartments, a 16-unit multifamily investment opportunity located in Pensacola. This well-maintained asset features eight one-bedroom/one-bath units and eight two-bedroom/one-bath units, offering a balanced and highly leasable unit mix. Originally constructed in 1948, Perdido Manor has undergone extensive capital improvements over the past 24 months and is in excellent overall condition. Fourteen of the sixteen units have been substantially renovated with modern, high-demand finishes, including granite countertops, stainless steel appliances, new cabinetry, luxury vinyl plank flooring throughout, new mini-split HVAC systems, and fully updated bathrooms with new vanities and tiled showers. The remaining two units present a clear value-add opportunity for new ownership. By completing renovations consistent with the upgraded units, an investor can further enhance rental income and overall asset value, driving additional cash flow and long-term appreciation. Perdido Manor is located in Pensacola, Florida, a city in the panhandle area of Florida. Pensacola is a vibrant Gulf Coast city that blends rich history, a strong workforce, and an exceptional quality of life. Known as the “City of Five Flags,” Pensacola offers a diverse and growing economy supported by key industries such as aerospace and defense, healthcare, education, tourism, and maritime services. Major employers in the region include Naval Air Station Pensacola, Baptist Health Care, Sacred Heart Health System, and University of West Florida, all of which contribute to a stable employment base. Pensacola benefits from a skilled and dependable labor force, supported by local colleges, technical institutions, and military-trained professionals transitioning into civilian careers. The area maintains a business-friendly climate with competitive operating costs, no state income tax, and access to regional and international markets through its port and transportation infrastructure. Demographically, Pensacola has a population of approximately 55,000 residents, with more than 500,000 people in the greater metropolitan area. The workforce is diverse across age groups, with a strong presence of working-age adults and a steady pipeline of young talent from local higher education institutions. The city’s median age is slightly higher than the national average, reflecting both its appeal to retirees and its stable long-term resident base. Median household incomes continue to trend upward, and the cost of living remains below many major Florida metropolitan areas. With its coastal location, white-sand beaches, and historic downtown, Pensacola also offers an attractive lifestyle that helps employers recruit and retain talent. Combined with steady job growth, expanding industries, and a supportive community, Pensacola stands out as a dynamic place to live, work, and invest.