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500 Kelly Mill Road

Valparaiso, FL 32580
  • $12,950,000
  • STATUS: Active Under Contract
  • ON SITE: 296 Days
  • MLS #: 740966
Under Contract
UPDATED: 40 min ago
$12,950,000
  • 0
    BEDS
  • 8.62
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1986
County:
Area:

School Ratings & Info

Description

Riviera Ridge Townhomes enjoys a central Valparaiso location close to Eglin Air Force Base, Northwest Florida State College and various employment, entertainment and dining opportunities. The Property is located just off of John Sims Parkway, the main artery through Valparaiso, leading from Niceville to Eglin AFB in southern Okaloosa County.Riviera Ridge Townhomes contains 84 rental units built in two phases. Initially, Phase I was constructed in 1984 and Phase II was completed in 1986. The complex is comprised of 22 rental buildings, 1 one story maintenance shop and 1 one story office building distributed over 8 acres. The buildings are wood frame construction, with a brick veneer, in an array of exterior styles. Riviera Ridge Townhomes provides a favorable unit mix of 15 one bedroom units and 69 two bedroom units. Units range in size from 725 to 875 square feet, with one bedroom units currently renting for $1,195/month and two bedroom units currently renting for $1,295/month. All apartments include fully appointed electric kitchens and private patios. There is also an on-site central laundry facility that generates additional income. The property's Tenants pay all utilities for their respective residence.Riviera Bay Townhomes, a 36 Door sister property is also available for purchase $5.95M with Riviera Ridge Townhomes as a package deal only and brings the total number of doors to 120. An assumable mortgage and some very attractive seller financing are also available respectively for both of the properties.Northwest Florida, also known as the Florida Panhandle, is a 16-county region that extends along the Gulf of Mexico from Pensacola, on the western border of Florida, to just east of Tallahassee. The region occupies a unique geography in Florida, abutting the southern borders of both Georgia and Alabama, as well as the northwestern boundary of the Florida peninsula. The 16-county region includes nearly one quarter of Florida' s 67counties and approximately 20% of the state' s land mass. The local military bases and Northwest Florida State college supplement the local apartment market in Okaloosa and Walton counties. The area also has a strong tourist trade that draws up to 4 million annual visitors. The location near the Gulf of Mexico is very desirable for families to vacation and retirees to relocate here. The largest US Air Force base in the world, Eglin AFB, owns and protects a large land area used for test ranges.A financial packet for both of the properties is available upon request.

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© 2024 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or ENGEL & VÖLKERS. Data last updated: 2024-02-24T18:04:13.1.
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500 Kelly Mill Road Valparaiso, FL 32580

  • Price: $12,950,000
  • Status: Active Under Contract
  • On Site: 296 Days
  • Updated: 40 min ago
  • MLS #: 740966
0
Beds
0
Baths
0
½ Baths
8.62
Acres
1986
Built
Neighborhood:
No Named Subdivision
County:
Okaloosa
Area:
Okaloosa
Property Description
Riviera Ridge Townhomes enjoys a central Valparaiso location close to Eglin Air Force Base, Northwest Florida State College and various employment, entertainment and dining opportunities. The Property is located just off of John Sims Parkway, the main artery through Valparaiso, leading from Niceville to Eglin AFB in southern Okaloosa County.Riviera Ridge Townhomes contains 84 rental units built in two phases. Initially, Phase I was constructed in 1984 and Phase II was completed in 1986. The complex is comprised of 22 rental buildings, 1 one story maintenance shop and 1 one story office building distributed over 8 acres. The buildings are wood frame construction, with a brick veneer, in an array of exterior styles. Riviera Ridge Townhomes provides a favorable unit mix of 15 one bedroom units and 69 two bedroom units. Units range in size from 725 to 875 square feet, with one bedroom units currently renting for $1,195/month and two bedroom units currently renting for $1,295/month. All apartments include fully appointed electric kitchens and private patios. There is also an on-site central laundry facility that generates additional income. The property's Tenants pay all utilities for their respective residence.Riviera Bay Townhomes, a 36 Door sister property is also available for purchase $5.95M with Riviera Ridge Townhomes as a package deal only and brings the total number of doors to 120. An assumable mortgage and some very attractive seller financing are also available respectively for both of the properties.Northwest Florida, also known as the Florida Panhandle, is a 16-county region that extends along the Gulf of Mexico from Pensacola, on the western border of Florida, to just east of Tallahassee. The region occupies a unique geography in Florida, abutting the southern borders of both Georgia and Alabama, as well as the northwestern boundary of the Florida peninsula. The 16-county region includes nearly one quarter of Florida' s 67counties and approximately 20% of the state' s land mass. The local military bases and Northwest Florida State college supplement the local apartment market in Okaloosa and Walton counties. The area also has a strong tourist trade that draws up to 4 million annual visitors. The location near the Gulf of Mexico is very desirable for families to vacation and retirees to relocate here. The largest US Air Force base in the world, Eglin AFB, owns and protects a large land area used for test ranges.A financial packet for both of the properties is available upon request.
Exterior Features

Construction Materials Brick Veneer Vinyl Siding Levels One Lot Features Landscaped Stories 1

Interior Features

Building Features Office

Property Features

Association YN No Building Area Total 71250 Community Features Laundry Facilities Listing Agreement Exclusive Right To Sell Listing Terms Assumable Occupant Type Occupied Possible Use Multi Family Property Sub Type Multi Family Property Sub Type Additional Multi Family Special Listing Conditions Listed As Is Waterfront YN No

Central Panhandle Association of REALTORS (Panama City MLS) logo Listing provided courtesy of Riviera Realty Group LLC: (888) 240-0499. Listing information © 2024 Central Panhandle Association of Realtors MLS.


© 2024 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or ENGEL & VÖLKERS. Data last updated: 2024-02-24T18:04:13.1.
 
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