508 West Gregory Street

Pensacola, FL 32501

$675,000
Price
—
Beds
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.

Description

Cash flowing opportunity with A+ paying tenants. Turn-key downtown 3-unit property perfect for investors as two of the three units have been used as short-term rentals, while the third was owner-occupied, but has a wait list for its leasing consideration. Two rental units come furnished, they are the downstairs unit in main house at 1055 sq, ft. and the 900 sq ft cottage out back. The upstairs unit was owner occupied, 1055 sq, ft and is offered unfurnished. The upstairs unit has two decks, one at...Cash flowing opportunity with A+ paying tenants. Turn-key downtown 3-unit property perfect for investors as two of the three units have been used as short-term rentals, while the third was owner-occupied, but has a wait list for its leasing consideration. Two rental units come furnished, they are the downstairs unit in main house at 1055 sq, ft. and the 900 sq ft cottage out back. The upstairs unit was owner occupied, 1055 sq, ft and is offered unfurnished. The upstairs unit has two decks, one at the entry door and the other on the opposite side allowing great views in every direction. Seller has completely remodeled (down to the studs!) the property in the last two years. It is only a few blocks to the center of downtown and Palafox St. A unique must-see, brimming with opportunity! Driveway on east side will convey with property.
  1. Listed by Don Becker • Luxury Real Estate Group

Amenities

  • Air Conditioning
  • Central Heating
  • Common Laundry
  • Cottage
  • Deck
  • Driveway
  • Pet Friendly
  • Private Outdoor Space
LISTING UPDATED: 12/23/2024 03:12 PM

Property Details for 508 West Gregory Street

StatusActive
MLS #654417
Days on Market43
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Triplex
Year Built1900
Lot Size-
CountyEscambia County

Building Information for 508 West Gregory Street

Stories2Residences3Year Built1900Building Size-Lot Size-

Property Information for 508 West Gregory Street

Summary
Location and General Information
  • Directions: From downtown on Palafox, turn west on Gregory, cross N DeVilliers St, property is on the right.
  • Latitude: 30.414428
  • Longitude: -87.222943
  • Subdivision Name: Belmont Tract
Taxes and HOA Information
  • Association Fee Includes: Gas, Maintenance Grounds, Maintenance, Management, Pest Control
  • Tax Legal Description: W 40 FT OF E 139 FT OF S 125 FT BEL NO BLK 84 BELMONT TRACT ALSO W 2 FT OF E 141 FT OF S 125 FT OF BLK 84 BELMON TRACT OR 8636 P 779 CA 95
  • Association: Yes
School Information
  • Elementary School: Global Learning Academy
  • High School: Pensacola
  • Middle Or Junior School: Workman
Property
Lot Information
  • Building Name: None
  • Construction Materials: Frame
  • Levels: Two
  • Lot Features: Central Access
  • Lot Size Dimensions: 42 x 125
  • Roof: Gable
  • Cooling: Yes
  • Fireplace: Yes
  • Heating: Yes
  • Horse: No
  • New Construction: No
Property and Assessments
  • Documents Count: 2
  • Parcel Number: 000S009010007084
  • Photos Count: 44
  • Property Condition: Resale
  • Vacancy Allowance Rate: 33.00%
Green Features
  • Green Energy Efficient: Heat Pump, Insulation, Insulated Walls
Utilities
  • Electric: Circuit Breakers, Copper Wiring
Interior and Exterior Features
Exterior Features
  • Accessibility Features: Exterior Handicap Provision
  • Community Features: Pavilion/Gazebo
  • Exterior Features: Balcony, Barbecue, Fire Pit
  • Fencing: Back Yard, Other, Privacy
  • Patio And Porch Features: Lanai, Deck, Patio
Interior Features
  • Cooling: Ceiling Fan(s), Multi Units
  • Heating: Central
  • Laundry Features: Common Area
  • Stories: 2
  • Window Features: Double Pane Windows
Multi Family
Multi-Family Information
  • Number Of Units Total: 3
Income & Expenses Information
  • Net Operating Income: $49,384.00
  • Operating Expense: $14,000.00
Rental
Rental Information
  • Leasable Area Units: Square Feet
  • Pets Allowed: Yes
  • Lease Considered: No

Property History for 508 West Gregory Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 508 West Gregory Street

Taxable ValueLand-Additions-Total-
Tax Record2023$5,225 ($435 / month)
Home Facts
Beds0Total Finished SqFt2,691 SqFtAbove Grade Finished SqFt2,691 SqFtStories2Lot Size5,250 SqFtStyleSingle Family ResidenceYear Built1900Year Renovated2000ZoningR-NCBCountyESCAMBIAAPN00-0S-00-9010-007-084

Schools near 508 West Gregory Street

This home is within Escambia.
Rating
School
Type
Grades
Distance
Global Learning Academy
Public - PK to 5
J. H. Workman Middle School
Public - 6 to 8
Pensacola High School
Public - 9 to 12
Lakeview Dropout Prevention
Public - 6 to 12
Rating
School
Distance
Global Learning Academy
PublicPK to 5

J. H. Workman Middle School
Public6 to 8

Pensacola High School
Public9 to 12

Lakeview Dropout Prevention
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 508 West Gregory Street, Pensacola, FL 32501

508 West Gregory Street is a multi-family home for sale in Pensacola, FL 32501. This property was listed for sale on October 22, 2024 by Luxury Real Estate Group, it's currently listed at $675,000. It has been on the market for a total of 43 days and was last sold on September 22, 2022. This listing's school district is Escambia. Nearby schools include Global Learning Academy, J. H. Workman Middle School and Pensacola High School. 508 West Gregory Street is a 0-bed, 0-bath, multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Luxury Real Estate Group

The data relating to real estate for sale/lease on this web site come in part from a cooperative data exchange program of the Emerald Coast Association of REALTORS, Central Panhandle Association of REALTORS, Pensacola Association of REALTORS and Capital Area Technology & REALTOR Services. The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Information deemed reliable but not guaranteed. Copyright© 2024 Emerald Coast Association of REALTORS, Central Panhandle Association of REALTORS, Pensacola Association of REALTORS and Capital Area Technology & REALTOR Services. All Rights Reserved.