Riviera Bay Townhomes Listing Details & Market Data

Garden style 36 unit townhome complex on almost 3 acres of level land in growing Niceville/Valparaiso sub-market. Centrally located near Mid-Bay Bridge bypass, 10 minutes to Destin to the south and 25 min. to Crestview to the North. An excellent unit mix of 28 two bed and 8 one bed units. An assumable Freddie Mac debt @3.64% rate with approx. 9 yrs. remaining on term, 1 yr. interest only, 30 yr. amort. The property has underground utilities, low maintenance brick siding and dimensional shingle roofs that were replaced in 2016. The complex has an onsite leasing office, maintenance shop and laundry facility. Recent capex improvements include parking lots, HVAC units, hot water heaters and four kitchen/bath remodels. Proven $150-$200 upside in moving to market rents. Listing Broker has ownership interest in selling entity..Assumable Freddie Mac Loan/ Seller Pref Equity