76 4th Ave Immeuble residentiel 17 lots 1 453 704 € (85 512 €/Lot) Taux de capitalisation 5,88 % Shalimar, FL 32579

The Par Apartments, located at 76-80 4th Ave, Shalimar, FL 32579, is a multifamily investment opportunity comprising 17 units across five buildings. The property spans two parcels, with 76 4th Ave containing three buildings: two quadplexes and a single building with one unit. These buildings were constructed in 1960 and were originally used as government housing. The 80 4th Ave parcel features two quadplexes, identical to those at 76 4th Ave, but built in 1970. All buildings are constructed with concrete block. Each of the 17 units has been updated with Formica countertops, painted cabinets, updated vanities, and all feature terrazzo floors and cinderblock walls.
The property benefits from a prime location in Shalimar, FL, just minutes from Eglin Air Force Base, a key regional employer driving strong housing demand. Its proximity to the base, along with nearby retail, dining, and recreational amenities, makes it an attractive option for tenants seeking convenience and stability. The asset offers a compelling investment opportunity, with current rents below market, presenting significant upside potential through light value-add improvements. Shalimar is experiencing steady economic activity and population growth, driven by ongoing infrastructure development and increased investment in the surrounding areas. These factors position the property to deliver solid in-place cash flow and long-term appreciation potential in a high-demand rental market.
Investment Highlights
Possible Seller Financing Available
Strong Rental Market South of Eglin Air Force Base
Spacious one-bedroom units
Property located outside of Flood Zone