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Pensacola Realty Masters Blog

Realty Masters is happy to present the following Pensacola area community and Pensacola real estate information! 

Considerations when Purchasing a Pensacola Multifamily investment
Pam Keen
Owner Education

Pam Keen, Pensacola Real Estate Broker and fellow investor, discusses considerations for investors looking to purchase multifamily investment properties in the Pensacola area!

We manage a lot of small multifamily properties including duplexes, triplexes, quadraplexes, and even small apartment buildings up to 16 units. With managing so many Pensacola area apartments, we have a lot of experience in what makes a good multifamily investment. Here's a few major considerations:

  • Most small multifamily buildings are located in areas with other multifamily buildings, rather than in single-family neighborhoods. It's imperative to pay attention to how the other building owners are maintaining their units. This is imperative in attracting quality tenants and maximizing your rents.
  • Look for better school districts. Many renters in these properties have school aged children. 
  • Consider area crime rates as your tenants surely will. Safety is among the top concern for tenants, and it is often a reason we see people vacate their lease early
  • Consider the age of the property. This is important not only for maintenance but for insurance costs. 
  • Check the flood zone for the property. We've seen several small apartments that repeatedly flood. This will surely affect your ability to make a profit with your investment building. Keep in mind in Pensacola, your property does not have to be in a flood zone to be at risk of flooding. We recommend purchasing a flood policy regardless of whether it's required by your lender or suggested due to a higher risk flood zone. Flooding can occur from poor drainage, creeks, streams, drainage ponds, or even excessive amounts of rain  in a short period of time. 
If you have questions about multifamily properties, reach out to Pam via phone or email. She'll be happy to answer them.

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