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Harrison Lilly Team

Owner/Operator | Harrison Lilly Emerald Coast | Harrison Lilly Realty | PLACE

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6631 Magnolia St , Milton, FL 32570
$1,294,900
Est. Payment: $7,154.14/mo
6144 Sqft
Status: Active | Days on site: 45
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Harrison Lilly Team
Owner/Operator

House Description

Excellent multifamily investment opportunity in Milton! Updated complex consisting of a total of 12 1-bedroom, 1-bathroom units. Each unit has been updated with modern finishes including luxury vinyl plank flooring, stainless steel appliances, quartz countertops, updated fixtures, and washer/dryer hookups. The property is currently 10 of 12 units occupied, providing immediate rental income with additional upside through lease-up of the two vacant units. One vacant unit, 6651, is currently set up and utilized as an on-site leasing office and could be returned to residential use. Current base rents are approximately $925-$945 per month, with tenants also paying an additional $75 monthly utility/service fee covering water/sewer, trash, pest control, and lawn care. Situated on approximately 0.48 acres, the property also offers assigned resident parking. With all 12 units already updated, plus strong existing occupancy, this apartment complex offers an attractive opportunity to acquire an income-producing multifamily asset with additional revenue potential. Additional portfolio opportunity available: Seller also owns an 8-unit complex next door consisting of 2-bedroom, 1-bathroom units, as well as a nearby 6-unit property consisting of a 2-bedroom, 1-bathroom duplex and four 1-bedroom, 1-bathroom units on the same parcel. Seller is willing to consider a package transaction, providing an opportunity to acquire up to 26 multifamily units in close proximity. Properties may also be purchased separately.

Highlights

Listed by Jennifer Amberg , 850-400-0064 Palm Island Realty Group, LLC , 850-807-4122. Pensacola Association of REALTORS®, Inc.

Property Type

Multi-Family

Year Built

1982

County

Santa Rosa

Neighborhood

Milton Heights

Listing ID

687888

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Interior Features

Air Cond:Ceiling Fan(s),Central Air
Fireplaces:
Floor:See Remarks

Exterior Features

Lot:Central Access
Roof:Shingle
Others:
  • ▪ Additional:Resale
Parking Features:Assigned,Parking Lot
Principal Interest
$7,154
Taxes
$825

Home Price

$1,294,900

Loan Details

30 yrs
7.374%

Down Payment

20%
$258,980
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$7,154.14

Principal

Taxes

Principal Taxes HOA Total
Monthly $7,154.14 $825.50 $0.00 $7,979.63
Yearly $85,849.63 $9,905.99 $0.00 $95,755.62
Total $2,575,488.95 $297,179.55 $0.00 $2,872,668.50

Today's Rates

30 Year

7.37%

20 Year

7.27%

15 Year

6.8%

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Market insight data is pulled from the same city as the listing being viewed (Milton, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Pensacola Association of REALTORS®, Inc., and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-10-07T03:18:54.000Z

© 2026 Pensacola Association of REALTORS®, Inc.