210 NW Dates Avenue, Fort Walton Beach, FL 32548
sale
$1,400,000
|
Other
Courtesy Of Real Broker LLC
Exceptional opportunity to acquire Tilden's End, a 13-unit apartment community in the heart of Fort Walton Beach. Built in 1983 with durable CBS block construction, the property offers an all 2BD/1BA unit mix (800 SF each) and has been extensively improved with new roofs, multiple new HVAC systems, interior renovations, comprehensive plumbing repairs, and new fencing -- positioning the asset for stable, low-maintenance ownership. The property is located within a designated Opportunity Zone, a federal program that lets investors defer and potentially reduce capital gains taxes by reinvesting through a Qualified Opportunity Fund, with the potential to eliminate tax on appreciation when the investment is held long enough. For the right buyer, this can meaningfully enhance after-tax returns (buyer to confirm eligibility and current rules with a tax advisor). Steady occupancy reflects strong demand, with in-place rents below market and upside through turnover, RUBS, pet fees, and other income. Additional development optionality exists to add a triplex on the north side of the site -- NOI growth without buying more land. Ideally located just off Mary Esther Cut Off (+/-34,500 vehicles/day) and within 15 minutes of Eglin Air Force Base and its 20,000+ personnel, the asset draws from a deep, defense-anchored renter base further bolstered by Williams International's +/-$1B Okaloosa County investment. Buyer to verify all information.
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Property Features
- Legal Description: COM NE COR LOT 14 BLK 6 SYLVANIA HEIGHTS SUBD N 60FT TO POB E 40FT N 225FT W 240FT S 225FT E 200FT TO POB
- MLSID: 1004897
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