14 NW Cape Drive A-J, Fort Walton Beach, FL 32548
$1,150,000
Property Type:
Commercial for Sale
Lot Size (sq. ft.):
13,939
Status:
Active
Current Price:
$1,150,000
List Date:
1/03/2026
Last Modified:
3/23/2026
Description
This 10-unit multifamily property offers a strong income stream in one of Fort Walton Beach's most convenient locations. Each unit features a 1-bedroom, 1-bathroom layout, ideal for long-term tenants or short-term conversion.
Located just minutes from major employers, shopping centers, and the beautiful Gulf Coast beaches, this property maintains high occupancy and consistent cash flow.
The property is professionally managed and offers low overhead, making it perfect for both hands-off investors or owner-operators. With a current monthly income of $9,225, there is also potential for future rent increases in a growing rental market.
More Information MLS# 992065
Contract Info
GCCMLS Number: 42426482
Listing Board: Emerald Coast
List Date: 2026-01-03
List Price: $1,150,000
Location, Tax and Legal
Unit #: A-J
Sub Area: 1203 - West Fort Walton Beach
Legal Description: OAKLAND ADD LOTS 12 BLK 2
General Property Info
Listed on GCCMLS: Yes
Property Information: Welcome to 14 Cape Drive, Units A-J - a rare investment opportunity in a well-maintained complex featuring 10 individual units, each approximately 500 square feet, with one cozy studio unit at 450 square feet. The property currently generates $9,225 per month in rental income, offering a strong cash flow for investors.
Cape A $875
Cape B $950
Cape C $925
Cape D $950
Cape E $900
Cape F $925
Cape G $925
Cape H $925
Cape I $925
Cape J $925
Vacant: No
Immediate Occupancy: No
Lot Depth: 149
Lot Frontage: 100
Acreage: 0.32
Listing Info, Tax & Legal
As Is: Yes
Remarks & Misc
Remarks: This 10-unit multifamily property offers a strong income stream in one of Fort Walton Beach's most convenient locations. Each unit features a 1-bedroom, 1-bathroom layout, ideal for long-term tenants or short-term conversion.
Located just minutes from major employers, shopping centers, and the beautiful Gulf Coast beaches, this property maintains high occupancy and consistent cash flow.
The property is professionally managed and offers low overhead, making it perfect for both hands-off investors or owner-operators. With a current monthly income of $9,225, there is also potential for future rent increases in a growing rental market.
Sale Type
Real Estate Owned: 1
Class
Income Producing: 1
Multi-Family: 1
Construction Status
Existing: 1
Income Producing
Annual Gross Income: 106874.29
Property Type: Multi-Family
Multi-Family
Year Built: 19841970
Building SqFt: 4107
# of Units: 10
Actual Gross Income: 106874.29
Expenses: 27082.18
Cap Rate: 6.21
# Buildings: 2
# Stories/Buildings: 2
None
Current Price: $1,150,000
Status Change Info
Status: Active
Location Tax and Legal
Area: 12 - Fort Walton Beach
Street #: 14
Street Direction: NW
Street Name: Cape
Street Suffix: Drive
State: FL
Zip Code: 32548
County: Okaloosa
Parcel ID: 09-2S-24-1860-0002-0120
Property Features
Class: Income Producing; Multi-Family
Construction Status: Existing
Sale Type: Real Estate Owned
Lead Based Document ›
Listing Office:
Endless Horizons Realty Inc
Listing Agent:
Amber M Carpenter
Last Updated: March - 23 - 2026
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.