1601 E Cervantes, Pensacola, FL 32501
1601 E Cervantes, Pensacola, FL 32501
1601 E Cervantes, Pensacola, FL 32501
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Listed by Blair Phillips Beck • Better Homes And Gardens Real Estate Main Street Properties
$675,000
Est. payment /mo
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2,162 SqFt
Price Dropped by $50K

1601 E Cervantes Pensacola, FL 32501

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Tim Whittemore

Tim Whittemore

+1(850) 204-4416

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,162 sqft

Price per Sqft $312

Subdivision New City Tract

MLS Listing ID 680916

HOA Y/N No

Year Built 1933

Lot Dimensions 80x132

Property Sub-Type Quadruplex

Source Pensacola MLS

Property Description

Exceptional opportunity to acquire a fully renovated, income-producing 4-plex in the highly sought-after East Hill neighborhood. The property generates approximately $10,000+ per month in gross rental income, with annual revenue exceeding $120,000. Ideally located just 4 blocks from Publix, 5 minutes to downtown Pensacola, and 15 minutes to the white sands of Pensacola Beach, this meticulously updated property consistently attracts both short-term and extended-stay guests. The property is currently operated as a 4-unit income-producing STR asset or rented as a whole for larger groups. It may also qualify for FHA financing, which allows an owner-occupant buyer to live in one unit while using the remaining units as income-producing rentals. The property features four thoughtfully designed units (A–D) with a versatile mix of layouts: Unit A offers a spacious king bedroom, full kitchen, and private laundry room. Unit B features a king suite with updated bath and a standout outdoor entertaining area complete with fire pit, grill, and dining space. Unit C is a fully renovated second-floor 2BR with dual king suites, smart TVs, and comfortable living space suited for families or groups. Units B & C have shared laundry utilities. Unit D is a stylish studio with a king bed, walk-in rain shower, in-unit laundry, and private deck with outdoor seating and grill. Recent improvements include full roof replacement in 2021, updated plumbing in B/C laundry area and installation of tankless water heater, all completed by a licensed plumber, enhancing efficiency and long-term reliability. The property demonstrates consistent rental performance with established income history and immediate cash flow potential for its new owner. Contact for showings of available units. Financial documents furnished upon request. The property is currently fully furnished, with furnishings available for purchase or negotiation with an acceptable offer.

Location

State FL

County Escambia - Fl

Interior

Interior Features Baseboards, Ceiling Fan(s)

Heating Central, Wall/Window Unit(s), Fireplace(s)

Cooling Multi Units, Central Air, Wall/Window Unit(s)

Flooring Hardwood

Fireplace true

Appliance Tankless Water Heater

Exterior

Parking Features On Street

View Y/N No

Roof Type Shingle,Gable

Garage No

Building

Lot Description Corner Lot

Faces Head east on Cervantes. Property is on the right. Corner of 16th Avenue & Cervantes

Water Public

New Construction No

Others

Tax ID 000S009025001100

NEARBY SCHOOL & BUSINESS

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Tim Whittemore

Tim Whittemore

Team Lead License ID: SL3354763

+1(850) 204-4416

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1601 E Cervantes