BENNETT APARTMENTS

Marcus & Millichap is pleased to present the exclusive opportunity to acquire Bennett Apartments, 39 low-density multifamily units located in Pensacola, FL. Bennett Apartments, built in phases between the 1970’s and 1980’s, features 38 single-level duplex units and one four bedroom house which will arrive to market fully stabilized and offering multi-faceted upside potential. Future ownership has opportunity to further capitalize on an in-place proven value-add program which has seen rental increases of up to 35 percent across +/- 7 units as well as explore developing additional units on the existing property footprint. Investors will have a unique opportunity to acquire day one cash flow, potential for top line growth via a continued interior value-add program, and a pathway towards increasing the overall unit count via additional construction of at least 8 more units, making this offering attractive at many levels.

Nestled in the heart of Pensacola’s desirable Ferry Pass neighborhood, Bennett Apartments enjoys a prime Class B suburban location that delivers exceptional accessibility and everyday convenience. Residents are just minutes from key job drivers, including the University of West Florida (only 3-miles away), major healthcare employers like Baptist and Ascension Sacred Heart hospitals, and nearby military installations such as NAS Pensacola. Entertainment options abound with quick drives to pristine Gulf beaches, downtown

Pensacola’s vibrant dining and cultural scene, shopping districts, and recreational parks. Families benefit from access to solid Escambia County public schools, including Ferry Pass Elementary (rated above average), while the area’s median household income of approximately $66,644 supports stable rental demand. Within a 3-mile radius, average home values hover around $250,000, underscoring the location’s affordability edge over ownership while positioning the property as an attractive alternative in a balanced market.

Pensacola’s macro momentum further amplifies the property’s upside, fueled by robust in-migration from high-cost states and other regions, drawing remote workers, military families, and retirees seeking the area’s coastal lifestyle and affordability. Recent job growth of over 2 percent annually across defense, healthcare, education, and emerging sectors like logistics continues to expand the labor force, keeping unemployment low around 4 percent and driving consistent renter demand. With multifamily occupancy holding strong near 95 percent and absorption outpacing limited new supply, the market demonstrates remarkable resilience and a positive 2026 outlook. This combination of population gains, economic diversity, and lifestyle advantages positions The Bennett for sustained strength and appreciation in the years ahead.