14 NW Cape Drive A-J, Fort Walton Beach, FL 32548 (MLS# 992065)

14 NW Cape Drive A-J, Fort Walton Beach, FL 32548

$1,300,000

14-cape-dr-nw-unit-h-fort-walton-beach-f

Property Type: Commercial for Sale Lot Size (sq. ft.): 13,939 Status: Active

Current Price: $1,300,000 List Date: 1/03/2026 Last Modified: 1/03/2026

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 $8,975, 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: $1,300,000

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 410 square feet, with one cozy studio unit at 400 square feet. The property currently generates $8,906 per month in rental income, offering a strong cash flow for investors. Cape A $825 Cape B $950 Cape C $975 Cape D $950 Cape E Vacant Cape F $875 Cape G $875 Cape H $875 Cape I $900 Cape J $900 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 $8,975, 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: 29518.43 Cap Rate: 5.24 # Buildings: 2 # Stories/Buildings: 2

None

Current Price: $1,300,000

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

Listing Office: Endless Horizons Realty Inc

Last Updated: January - 03 - 2026

All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2020 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.

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