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6631 Magnolia St

Milton, FL 32570
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Excellent multifamily investment opportunity in Milton! Updated complex consisting of a total of 12 1-bedroom, 1-bathroom units. Each unit has been updated with modern finishes including luxury vinyl plank flooring, stainless steel appliances, quartz countertops, updated fixtures, and washer/dryer hookups. The property is currently 10 of 12 units occupied, providing immediate rental income with additional upside through lease-up of the two vacant units. One vacant unit, 6651, is currently set up and utilized as an on-site leasing office and could be returned to residential use. Current base rents are approximately $925-$945 per month, with tenants also paying an additional $75 monthly utility/service fee covering water/sewer, trash, pest control, and lawn care. Situated on approximately 0.48 acres, the property also offers assigned resident parking. With all 12 units already updated, plus strong existing occupancy, this apartment complex offers an attractive opportunity to acquire an income-producing multifamily asset with additional revenue potential. Additional portfolio opportunity available: Seller also owns an 8-unit complex next door consisting of 2-bedroom, 1-bathroom units, as well as a nearby 6-unit property consisting of a 2-bedroom, 1-bathroom duplex and four 1-bedroom, 1-bathroom units on the same parcel. Seller is willing to consider a package transaction, providing an opportunity to acquire up to 26 multifamily units in close proximity. Properties may also be purchased separately.

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Detail Ic Property Details

Property Type : Residential Income

Price : $1,295,000

AD Id : 89906769

MLS Id : 687888

Year Built : 1982

County : Santa Rosa

Subdivision: Milton Heights

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Feature Features

  • Flooring Information

    See Remarks
  • Roofing Information

    Shingle
  • Interior Features

    Roof: Shingle
  • Heating & Cooling

    Heating: Central Cooling: Ceiling Fan(s), Central Air

  • Building Information

    Year Built: 1982 Construction Materials: Frame
  • Exterior Features

    Foundation Details: Slab
    Porch: Covered

  • Lot Information

    Lot Description: Central Access Lot Size Units: Acres Stories: 2

    Property Information

    Property Type: Residential Income Sub Type: ApartmentSubdivision: Milton Heights

  • Listing Price Information

    Original Listing Price: $1295000

  • Tax Information

    Parcel Number: 342N282470011000070

  • Parking Information

    Assigned, Parking Lot

  • Elementary School: W. H. Rhodes
    Junior High School: R. HOBBS
    Senior High School: Milton
  • Location Information

    Direction: NORTH ON STEWART ST., WEST ON MAGNOLIA STREET. UNITS ARE ON THE LEFT
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Nearby Home Value

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ByOwner last updated this listing 08/29/2026 @ 21:59

MLS: 687888 LISTED BY: Jennifer Amberg, Palm Island Realty Group, LLC 850-807-4122 SOURCE: Pensacola MLS

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