40 4Th Avenue Shalimar, FL 32579
Other Residential
MLS #: 969018
Courtesy Of Keller Williams Realty- Emerald Coast
$1,600,000
0.06 acres
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Estimated monthly payments:
$6,994/mo.* (recalculate)
Property InformationDescription
Introducing an exceptional investment opportunity in the heart of Shalimar! This 12-unit multifamily property delivers a solid NOI of $81K, with a 4% rent increase already secured for 2025. All units are fully leased with no vacancies, ensuring steady income from day one.
The seller is offering a stellar financing package: 40% down at 6.5% interest for 36 months. Enjoy no payments for the first 3 months and interest-only payments for the following 9 months, giving you the perfect window to build reserves and optimize early cash flow. Subject to credit approval and additional terms.
The property features three duplex buildings, each with 2-bedroom, 1-bath units at 812 sqft, complete with carports Current rents range from $900 to $1,300 per month. The fourth building offers six townhouse-style units, each 1,212 sqft with 2 bedrooms and 1.5 baths, renting between $950 and $1,100 monthly presenting a clear opportunity for rental increases and a significant boost to your bottom line.
Located centrally in Shalimar, this property offers unbeatable convenience: just minutes from shopping, dining, and entertainment. Eglin AFB is only 3 miles away, hospitals are within 4 miles, Hurlburt Field is 11 miles, and the stunning Okaloosa Island Boardwalk, with its white sandy beaches and emerald-green waters, is just a short drive.
Call today for more information and to schedule a showing!
The seller is offering a stellar financing package: 40% down at 6.5% interest for 36 months. Enjoy no payments for the first 3 months and interest-only payments for the following 9 months, giving you the perfect window to build reserves and optimize early cash flow. Subject to credit approval and additional terms.
The property features three duplex buildings, each with 2-bedroom, 1-bath units at 812 sqft, complete with carports Current rents range from $900 to $1,300 per month. The fourth building offers six townhouse-style units, each 1,212 sqft with 2 bedrooms and 1.5 baths, renting between $950 and $1,100 monthly presenting a clear opportunity for rental increases and a significant boost to your bottom line.
Located centrally in Shalimar, this property offers unbeatable convenience: just minutes from shopping, dining, and entertainment. Eglin AFB is only 3 miles away, hospitals are within 4 miles, Hurlburt Field is 11 miles, and the stunning Okaloosa Island Boardwalk, with its white sandy beaches and emerald-green waters, is just a short drive.
Call today for more information and to schedule a showing!
Features
- Architecture Style: Other
- Lot Size: 0.06 Acres
MAP & DIRECTIONS
School Information
40 4Th Avenue, Shalimar, FL 32579
Elementary School
Grades PK-5 |
Public School
SHALIMAR ELEMENTARY SCHOOL
Shalimar, FL 32579
1350 Joe Martin Cir
850.833.4339
Distance: 0.8 mi
School Rating
C-
Student:Teacher Ratio
16:1
Total Students
594
Middle School
Grades 6-8 |
Public School
MEIGS MIDDLE SCHOOL
Shalimar, FL 32579
150 Richbourg Ave
850.833.4301
Distance: 0.7 mi
School Rating
C+
Student:Teacher Ratio
19:1
Total Students
627
High School
Grades 9-12 |
Public School
CHOCTAWHATCHEE HIGH SCHOOL
Fort Walton Beach, FL 32547
110 Racetrack Rd NW
850.833.3614
Distance: 2.7 mi
School Rating
C
Student:Teacher Ratio
21:1
Total Students
1637
| Other Nearby Schools | Distance | Type | Grades | School Rating |
|---|---|---|---|---|
| Longwood Elementary School | 1.7 mi | Public | PK-5 | D+ |
| Elliott Point Elementary School | 1.8 mi | Public | PK-5 | C+ |
| Kenwood Elementary School | 2.4 mi | Public | PK-5 | B |
| Eglin Elementary School | 2.7 mi | Public | KG-4 | B+ |
| W.c. Pryor Middle School | 2.9 mi | Public | 6-8 | B- |
| Okaloosa Virtual Instruction Program | 2.9 mi | Public | KG-12 | |
| First United Methodist School | 3.0 mi | Private | PK-KG | |
| Northwest Florida Ballet Academie | 3.0 mi | Public | 3-8 | A+ |
| Okaloosa Technical College And Choice High School | 3.1 mi | Public | 6-12 | D- |
| Calvary Christian Academy & Preschool | 3.3 mi | Private | PK-12 | |
| St Mary Catholic School | 3.3 mi | Private | PK-8 | |
| Wright Elementary School | 3.4 mi | Public | PK-5 | D+ |
| Montessori Learning Center | 3.5 mi | Private | PK-3 | |
| Lotus Learning & Arts Center | 3.5 mi | Private | KG-11 | |
| Max Bruner Junior Middle School | 3.8 mi | Public | 6-8 | C+ |
| Contracted Residential Services | 3.8 mi | Public | 6-12 | |
| Silver Sands-exceptional Children | 3.9 mi | Public | PK-12 |
This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.
Demographic Data
Shalimar, FL 32579
| Median Age: | 45.7 |
|---|---|
| Married: | 54% |
| Number of Households: | 5,028 |
| Households with Children: | 25.8% |
Shalimar, FL 32579
Demographic Data
-
Occupancy Types
- 0 Vacant
- 0 Owned
- 0 Rented
-
Transportation to Work
- 0 Drive
- 0 Public Transportation
- 0 Walk / Bike / Other
- 0 Work at Home
Copyright © 2025 Emerald Coast Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
