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590-592 Hill Ln 6 Unit Apartment Building $1,400,718 ($233,453/Unit) 7.52% Cap Rate Niceville, FL 32578

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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

Property Facts

Price	$1,400,718	Building Class	C
Price Per Unit	$233,453	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	$1,400,718
Price Per Unit	$233,453
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	-	-

Property Taxes

Parcel Number	12-1S-23-0000-0037-0110	Improvements Assessment	$303,762
Land Assessment	$51,224	Total Assessment	$354,986

Property Taxes

Parcel Number

12-1S-23-0000-0037-0110

Land Assessment

$51,224

Improvements Assessment

$303,762

Total Assessment

$354,986

(813) 424-9797

Contact

Gabriel Pena
Matthews™

Listing ID: 42037835
Date on Market: 9/3/2026
Last Updated:
Address: 590-592 Hill Ln, Niceville, FL 32578

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590-592 Hill Ln, Niceville, FL for sale Building Photo- Image 1 of 4 — Property, pic-1 WM

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590-592 Hill Ln

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