Multifamily

Madison Parc

Listing Price: Request For Offer

Number of Units
108
Gross SF
105,840

Investment Overview

Well-Maintained and Manicured B Class Asset Consisting of 108 Units Located in the Crestview-Fort Walton Beach-Destin MSA Amenities include Full-Sized Washer/Dryer Appliances, Balconies/Patios for Every Unit, a Swimming Pool, Fitness Center, Management Office, Detached Garages and Vaulted Ceilings in Top Floor Units Attractive Unit Mix of All Two-Bedroom/Two-Bathroom Units Located in an IRS Designated Opportunity Zone

Investment Highlights

  • Since the Beginning of the COVID-19 Pandemic, Fort Walton Beach has Seen the Second-Highest Increase in Rents in the State as of September 2020 According to CoStar
  • Incredibly Strong Historical Economic Occupancy – 97.4% YTD through August
  • Located just off of Highway 393 Which Sees 32,000 VPD
  • Substantial Value-Add Opportunity Enabling Buyer to Increase Market Rent $350 Per Unit After Moderate Interior and Light Exterior Renovations
  • Ability to Increase NOI over 54% by Year Two
  • Situated Within Walking Distance to Fort Walton Beach's Retail Corridor Giving Tenants Quick and Convenient Access to Multiple Restaurants, Retail Outlets, Supermarkets, Malls and Schools
  • Fort Walton Beach has Seen its Job Market Increase by Over 4.2% Last Year and is Predicted to Grow More than 46% Over the Next 10 Years, Outpacing the U.S. Average by 12%+ According to Sperling's Best Places
  • Located Five Miles from Local Beaches and the Gulf of Mexico

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
108
Gross SF
105,840

Investment Highlights

  • Since the Beginning of the COVID-19 Pandemic, Fort Walton Beach has Seen the Second-Highest Increase in Rents in the State as of September 2020 According to CoStar
  • Incredibly Strong Historical Economic Occupancy – 97.4% YTD through August
  • Located just off of Highway 393 Which Sees 32,000 VPD
  • Substantial Value-Add Opportunity Enabling Buyer to Increase Market Rent $350 Per Unit After Moderate Interior and Light Exterior Renovations
  • Ability to Increase NOI over 54% by Year Two
  • Situated Within Walking Distance to Fort Walton Beach's Retail Corridor Giving Tenants Quick and Convenient Access to Multiple Restaurants, Retail Outlets, Supermarkets, Malls and Schools
  • Fort Walton Beach has Seen its Job Market Increase by Over 4.2% Last Year and is Predicted to Grow More than 46% Over the Next 10 Years, Outpacing the U.S. Average by 12%+ According to Sperling's Best Places
  • Located Five Miles from Local Beaches and the Gulf of Mexico

Investment Overview

Well-Maintained and Manicured B Class Asset Consisting of 108 Units Located in the Crestview-Fort Walton Beach-Destin MSA Amenities include Full-Sized Washer/Dryer Appliances, Balconies/Patios for Every Unit, a Swimming Pool, Fitness Center, Management Office, Detached Garages and Vaulted Ceilings in Top Floor Units Attractive Unit Mix of All Two-Bedroom/Two-Bathroom Units Located in an IRS Designated Opportunity Zone

Exclusively Listed By

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