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590-592 Hill Ln 6 Unit Apartment Building $1,931,506 CAD ($321,918 CAD/Unit) 7.52% Cap Rate Niceville, FL 32578
Investment Highlights
- 100% occupied — all 10 units leased at $1,341 avg in-place rent
- Priced at $140,000/unit — 22% below most recent Niceville trade
- All 10 units identical 2BD/1.5BA townhomes — single floor plan simplifies ops
- $19,080 annual loss to lease; 12% avg upside captured through natural turnover
- 2.5 miles to Eglin AFB; Government & Defense = 28% of area employment
- Niceville population up 13.6% since 2020; median HH income $102,409
Executive Summary
Broker Of Record
Kyle Matthews
Matthews Real Estate Investment Services, Inc
BK3554632, CQ1066435 (FL)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Kyle Matthews
Matthews Real Estate Investment Services, Inc
BK3554632, CQ1066435 (FL)
1600 West End Ave, Ste. 1500 Nashville, TN 37203 (866) 889-0550
Property Facts
| Price | $1,931,506 CAD | Building Class | C |
| Price Per Unit | $321,918 CAD | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 9,504 SF |
| Cap Rate | 7.52% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment | Parking Ratio | 1.57/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $1,931,506 CAD |
| Price Per Unit | $321,918 CAD |
| Sale Type | Investment |
| Cap Rate | 7.52% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 9,504 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 1.57/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 12-1S-23-0000-0037-0110 | Improvements Assessment | $420,577 CAD |
| Land Assessment | $70,923 CAD | Total Assessment | $491,499 CAD |
Property Taxes
Parcel Number
12-1S-23-0000-0037-0110
Land Assessment
$70,923 CAD
Improvements Assessment
$420,577 CAD
Total Assessment
$491,499 CAD
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590-592 Hill Ln
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