Hickory Cove Apartments
- 5820 Hickory St, Panama City, FL 32404
Price : $2,095,000
Property Details
- Property Type: Multifamily
- Investment Type : Value Add
- Square Footage : 12,096
- Price/Sq Ft : $173
- Occupancy : 100%
- NOI : $127,831
- 16 units
- Buildings : 1
- Sale Price : $2,095,000
- Sub type : Apartment Building
- Class : B
- Pro-Forma Cap Rate : 6.77%
- Pro-Forma NOI : $141,873
- Year Built : 1981
- Stories : 2
- Broker Co-Op :Yes
Please contact Andrew Green (Andrew.Green
@seacrestadvisors.com) to discuss the offering.
Seacrest Advisors is pleased to present the opportunity to acquire Hickory Cove Apartments. Hickory Cove is a 16-unit garden style apartment building located in Panama City, Florida. The asset was constructed in 1981 with common brick and vinyl on concrete slab. The property is comprised of (12) two-bedroom & one-bathroom units and (4) one-bedroom & one-bathroom units which average approximately 756 square feet. Hickory Coves offers its residents an array of amenities including resident gazebo & grilling area, on-site laundry room, and each unit is equipped with their own private patio area.
Hickory Cove, nestled in a residential neighborhood setting, is located just off Tyndall Parkway, a major thoroughfare in Panama City. Hickory Cove has ease of access to several commercial businesses and is minutes away from Downtown Panama City which boasts multiple trendy restaurants and other retail destinations. Additionally, Hickory Cove is also a few minutes away from the Tyndall Air Force Base, one of the region’s largest employers.
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