(850) 231-7896

Properties

Search By Neighborhood

40 & 38 NE Irwin Avenue, Fort Walton Beach, FL 32548

$550,000
Property Type: Commercial for Sale Lot Size (sq. ft.): 8,712 Status: Active
Current Price: $550,000 List Date: 4/07/2025 Last Modified: 6/11/2025

Description

Don't miss this rare opportunity to own two prime investment properties in the Town of Cinco Bayou, on the edge of the highly sought after Elliott Point neighborhood—just steps from Cinco Bayou, the public boat launch, local churches, popular restaurants, and retailers. This two parcel investment opportunity consist two homes with long and short term rental history. The front building features a beautifully renovated (2023) 2-bedroom, 1-bathroom home, currently operating as a successful short term rental. With its prime location and flexible layout, this space could easily be converted into a boutique office, retail shop, or professional studio. Guests and clients alike are welcomed by a large pergola-covered front patio—

Supplements: an ideal setting for relaxing or entertaining under the Florida sun. The spacious back patio offers a peaceful retreat, perfect for al fresco dining or an outdoor break area. The second home includes a completely renovated (2023) two-story structure with 1 bedroom, 1 bathroom, a kitchen, and a living area upstairs, and storage downstairs which could potentially be converted into a third living space. Upstairs, all new flooring and modern finishes make this space move-in or rent-ready. Whether you're seeking an income-generating short term rental, a live/work setup, or a dynamic mixed-use investment, this gem offers unmatched versatility and charm.

More Information MLS# 973193

None

Current Price: $550,000

Status Change Info

Status: Active

Contract Info

GCCMLS Number: 99999999 List Date: 2025-04-05 List Price: $550,000 Listing Board: Emerald Coast

Location Tax and Legal

Area: 12 - Fort Walton Beach Street #: 40 & 38 Street Direction: NE Street Name: Irwin Street Suffix: Avenue State: FL Zip Code: 32548 County: Okaloosa Parcel ID: 12-2S-24-0460-0010-0120; 12-2S-24-0460-0010-011A

General Property Info

Listed on GCCMLS: No Vacant: No Immediate Occupancy: No Acreage: 0.2 Lot Frontage: 89

Income Producing

Year Built: 1955 Property Type: Multi-Family

Multi-Family

Year Built: 1955 # of Units: 2 # Stories/Buildings: 2

Property Features

Class: Income Producing; Multi-Family Construction Status: Existing
Listing Office: Coldwell Banker Realty
Last Updated: June - 11 - 2025
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.

Grayton Corners | 32 East County Highway 30-A, Suite J | Santa Rosa Beach, FL 32459
Office: 850.231.7896 | Toll Free: 866.533.3429 | Email Us
G. Gay Landreth, Managing Member and Broker

Brokerage commissions are not set by law and are fully negotiable.
Copyright © 1999 - 2025 La Florida. All Rights Reserved.
Terms of Use | Privacy Statement