Listing provided courtesy of Better Homes And Gardens Real Estate Main Street PropertiesMLS# 680916MLS Provider
  • 76 days on site
  • 1 views

Exceptional opportunity to acquire a fully renovated, income-producing 4-plex in the highly sought-after East Hill neighborhood. The property generates approximately $10,000+ per month in gross rental income, with annual revenue exceeding $120,000. Ideally located just 4 blocks from Publix, 5 minutes to downtown Pensacola, and 15 minutes to the white sands of Pensacola Beach, this meticulously updated property consistently attracts both short-term and extended-stay guests. The property is currently operated as a 4-unit income-producing STR asset or rented as a whole for larger groups. It may also qualify for FHA financing, which allows an owner-occupant buyer to live in one unit while using the remaining units as income-producing rentals. The property features four thoughtfully designed units (A–D) with a versatile mix of layouts: Unit A offers a spacious king bedroom, full kitchen, and private laundry room. Unit B features a king suite with updated bath and a standout outdoor entertaining area complete with fire pit, grill, and dining space. Unit C is a fully renovated second-floor 2BR with dual king suites, smart TVs, and comfortable living space suited for families or groups. Units B & C have shared laundry utilities. Unit D is a stylish studio with a king bed, walk-in rain shower, in-unit laundry, and private deck with outdoor seating and grill. Recent improvements include full roof replacement in 2021, updated plumbing in B/C laundry area and installation of tankless water heater, all completed by a licensed plumber, enhancing efficiency and long-term reliability. The property demonstrates consistent rental performance with established income history and immediate cash flow potential for its new owner. Contact for showings of available units. Financial documents furnished upon request. The property is currently fully furnished, with furnishings available for purchase or negotiation with an acceptable offer.

Source: Pensacola MLS, MLS#: 680916

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  • Property Type
    Residential Income

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Owning this Home

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 1601 E Cervantes


Schools


School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date Event Value Agent
6/2/2026Source: Pensacola MLS Price Reduction
$675,000 -6.9%
6/1/2026Source: Pensacola MLS Status Change
Active
5/20/2026Source: Pensacola MLS Status Change
Contingent
4/14/2026Source: Pensacola MLS Added to Database
April 14, 2026