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150 S John Sims Pky 8 Unit Apartment Building $700,000 ($87,500/Unit) 8.15% Cap Rate Valparaiso, FL 32580
Investment Highlights
- Significant Rental Upside
- Located Near Strong Retail Tenants
- Property located Outside of Flood Zone
- Strong Rental Market North of Eglin Air Force Base
- All Units Have Received Good Renovations
Executive Summary
The Toller Parkway Apartments, located at 150 S John Sims Pkwy, Valparaiso, FL 32580, is a multifamily investment opportunity comprising 8 units within two buildings. The Two Quadplexes, built in 1954, comprise of Eight 2 Bedroom, 1 Bathroom Apartments that are 750 square feet each. Both buildings were constructed with concrete block construction. All 8 units have been updated with LVP floors, painted cabinets, Formica counters, and new appliances.
The property benefits from a strategic location in Valparaiso, FL, just minutes north of Eglin Air Force Base, a major regional employer and driver of housing demand. Its proximity to the base, along with nearby retail, dining, and recreation options, makes it an attractive option for tenants seeking convenience and stability. The asset presents a compelling investment opportunity, with existing rents currently below market, allowing for potential rental upside through light value-add improvements. Valparaiso continues to see steady economic activity and population growth, supported by infrastructure upgrades and increased investment in the surrounding area. These trends position the property to deliver both strong in-place cash flow and long-term appreciation potential in a tight, high-demand rental market.
Investment Highlights
Significant Rental Upside
Strong Rental Market North of Eglin Air Force Base
Located Near Strong Retail Tenants
All Units Have Received Good Renovations
Property located Outside of Flood Zone
The property benefits from a strategic location in Valparaiso, FL, just minutes north of Eglin Air Force Base, a major regional employer and driver of housing demand. Its proximity to the base, along with nearby retail, dining, and recreation options, makes it an attractive option for tenants seeking convenience and stability. The asset presents a compelling investment opportunity, with existing rents currently below market, allowing for potential rental upside through light value-add improvements. Valparaiso continues to see steady economic activity and population growth, supported by infrastructure upgrades and increased investment in the surrounding area. These trends position the property to deliver both strong in-place cash flow and long-term appreciation potential in a tight, high-demand rental market.
Investment Highlights
Significant Rental Upside
Strong Rental Market North of Eglin Air Force Base
Located Near Strong Retail Tenants
All Units Have Received Good Renovations
Property located Outside of Flood Zone
Property Facts Under Contract
| Price | $700,000 | Building Class | C |
| Price Per Unit | $87,500 | Lot Size | 0.30 AC |
| Sale Type | Investment | Building Size | 8,368 SF |
| Cap Rate | 8.15% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1954 |
| Property Subtype | Apartment | Parking Ratio | 1.91/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R2 - Multifamily | ||
| Price | $700,000 |
| Price Per Unit | $87,500 |
| Sale Type | Investment |
| Cap Rate | 8.15% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 8,368 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1954 |
| Parking Ratio | 1.91/1,000 SF |
| Zoning | R2 - Multifamily |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | 750 |
1 1
Property Taxes
| Parcel Number | 12-1S-23-253A-0021-0010 | Improvements Assessment | $466,071 |
| Land Assessment | $166,859 | Total Assessment | $632,930 |
Property Taxes
Parcel Number
12-1S-23-253A-0021-0010
Land Assessment
$166,859
Improvements Assessment
$466,071
Total Assessment
$632,930
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150 S John Sims Pky
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