Residential > Multi-family
Active
02/19/2025
List Price
$1,600,000
40 4th Ave
Shalimar, FL 32579
- 4Beds
- 2Baths
- 1,625ft²Living Area
- 2,614ft²Lot Size
- -Pool
- -Car
- 1962Year Built
- 160DOM
- 14Permits
40 4th Ave, Shalimar, FL 32579 is a 4 bed, 2 bath, 1,625 ft² multi-family home house built in 1962 on a 0.060 acre lot with 14 construction permits. This multi-family home is currently on the market for $1,600,000, and it was last sold in 2002 for $525,000. The latest TopHap estimate of the multi-family home's value is $334,200.
Property Valuations
Latest estimates for 40 4th Ave based on TopHap automated valuation model (AVM).
TopHap Estimate
$334,200
$205/ft²
-$1M below List Price
Updated 5 months ago
40 4th Ave is valued at $334,200 by TopHap AVM 5 months ago.
MLS Description
The listing agent's description. Original Listing
Introducing an exceptional investment opportunity in the heart of Shalimar! This 12-unit multifamily property delivers a solid NOI of $81K, with a 4% rent increase already secured for 2025. All units are fully leased with no vacancies, ensuring steady income from day one.
The seller is offering a stellar financing. Call for details. Subject to credit approval and additional terms.
The property features three duplex buildings, each with 2-bedroom, 1-bath units at 812 sqft, complete with carports Current rents range from $900 to $1,300 per month. The fourth building offers six townhouse-style units, each 1,212 sqft with 2 bedrooms and 1.5 baths, renting between $950 and $1,100 monthly presenting a clear opportunity for rental increases and a significant boost to your bottom line.
Located centrally in Shalimar, this property offers unbeatable convenience: just minutes from shopping, dining, and entertainment. Eglin AFB is only 3 miles away, hospitals are within 4 miles, Hurlburt Field is 11 miles, and the stunning Okaloosa Island Boardwalk, with its white sandy beaches and emerald-green waters, is just a short drive.
Call today for more information and to schedule a showing!
Listing Agents
The listing agent for 40 4th Ave is Heather Blatz.
HB
Heather Blatz
Keller Williams Realty FWB
Phone: (850) 654-2900
Permits
40 4th Ave has 14 permit records.
Permit History
14
Permits
Current Ownership
Information about the current owner(s).
Taxes Billed
Taxes billed in 2024$1,622.40From latest Total Assessed Value1.18%Total Assessed Value$137,656=Land+
Assessed Value$25,177Additions
Assessed Value$112,479
In 2024, taxes billed for 40 4th Ave were $1,622.4, which is 1.18% from latest Total Assessed Value of $137,656.
Property History
40 4th Ave has undefined property events records (listings, deeds, permits, tax, foreclosure, loan).
Property Events
Environment
Environmental factors around 40 4th Ave
Hazard Risks
Hurricane393Weather289Tornado203Wind174Nat'l Avg100Particulates100Carb Mono76Hail75Air Pollution75Ozone73Lead40Earthquake16
12 hazards (Carbon Monoxide, Earthquake Risk, Hail Index, Tornado Index, Hurricane Index, Air Pollution Index, Ozone Index, Wind Index, Weather Risk, Lead Index, Particulate Matter, National Average) are above the national average around 40 4th Ave.
Walkability Index
10 /20
Most Walkable
20-18
Very Walkable
17-15
Somewhat Walkable
14-10
Car Dependent
9-0
40 4th Ave has a walkability score of 10 out of 20, which means that it is in a somewhat walkable area.
Temperature
Seasonal temperature sampled over multiple years
Winter
Average
Low
41°F
High
63°F
Summer
Average
Low
71°F
High
90°F
In the winter at 40 4th Ave, temperatures range from 41.33°F to 62.89°F with an average of 52.11°F. In the summer, the temperature ranges from 71.29°F to 89.95°F with and average of 80.62°F.
School Information
Public/private schools serving 40 4th Ave
Public Schools
Clifford Meigs Middle School
Grades: 6-8
0.73 mi
C-
Northwest Florida Ballet Academie
Grades: 3-8
3.00 mi
A+
Choctawhatchee Senior High School
Grades: 9-12
2.68 mi
C
Shalimar Elementary School
Grades: PK-5
0.75 mi
C+
Okaloosa Virtual Franchise
Grades: 6-12
21.42 mi
Okaloosa Virtual Instruction Program
Grades: KG-12
2.93 mi
Okaloosa Online Non Franchised
Grades: KG-12
21.42 mi
D-
* The school rating is based entirely on the test score performance of each school. It is based on a scale of A-F, A being best.
Nearby public schools serving 40 4th Ave have ratings undefined, undefined, undefined, undefined, undefined, undefined, and undefined.
Neighborhood
This property is located in Olympic Townhomes, Shalimar, FL 32579.
Seasonal Housing units 32579
17%of housing is for seasonal rent.
Daytime Population for 32579
-21%of people during work hours.
Crime Index for 32579
52
52
The crime index in 32579 is 52, which is 0.5 times lower than national average.
Market Trends
Historical market data near 40 4th Ave over selected time period.
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- 91 4th Ave # B, Shalimar, FL 32579 (Colonial Woods Townhomes) is a 1,333 square foot, 2 bedroom, 2 bathroom, 0.05 acre property. It was built in 1984 and has an estimate of $253,500 with a price per ft² of $190.
- 91 4th Ave # A, Shalimar, FL 32579 (Colonial Woods Townhomes) is a 1,333 square foot, 2 bedroom, 2 bathroom, 0.06 acre property. It was built in 1984 and has an estimate of $265,251 with a price per ft² of $199.
- 145 4th Ave #Apt C5, Shalimar, FL 32579 is a 1,260 square foot, 2 bedroom, 1 bathroom, 0.04 acre property. It was built in 1973 and has an estimate of $216,433 with a price per ft² of $172.
- 129 4th Ave, Shalimar, FL 32579 (Portofino) is a 1,248 square foot, 3 bedroom, 2 bathroom, 0.03 acre property. It was built in 1980 and has an estimate of $227,160 with a price per ft² of $182.
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- 145 4th Ave #Apt B5, Shalimar, FL 32579 is a 1,260 square foot, 2 bedroom, 1 bathroom, 0.04 acre property. It was built in 1973 and has an estimate of $219,288 with a price per ft² of $174.
- 145 4th Ave #Apt B1, Shalimar, FL 32579 is a 1,260 square foot, 2 bedroom, 1 bathroom, 0.11 acre property. It was built in 1973 and has an estimate of $225,324 with a price per ft² of $179.
- 124 4th Ave # B, Shalimar, FL 32579 is a 1,732 square foot, 3 bedroom, 2 bathroom, 0.15 acre property. It was built in 1981 and has an estimate of $281,979 with a price per ft² of $163.
- 124 4th Ave # A, Shalimar, FL 32579 is a 1,732 square foot, 3 bedroom, 2 bathroom, 0.07 acre property. It was built in 1981 and has an estimate of $252,100 with a price per ft² of $146.
- 48 4th Ave, Shalimar, FL 32579 is a 1,056 square foot, 3 bedroom, 2 bathroom, 0.11 acre property. It was built in 1980 and has an estimate of $230,100 with a price per ft² of $218.
- 89 4th Ave # A, Shalimar, FL 32579 (Colonial Woods Townhomes) is a 1,333 square foot, 2 bedroom, 2 bathroom, 0.05 acre property. It was built in 1984 and has an estimate of $253,600 with a price per ft² of $190.
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- 145 4th Ave #Apt C2, Shalimar, FL 32579 is a 1,260 square foot, 2 bedroom, 1 bathroom, 0.04 acre property. It was built in 1973 and has an estimate of $165,000 with a price per ft² of $131.
- 145 4th Ave #Apt C3, Shalimar, FL 32579 is a 1,260 square foot, 2 bedroom, 1.5 bathroom, 0.04 acre property. It was built in 1973 and has an estimate of $211,867 with a price per ft² of $168.
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