125 N Davis Lane, Defuniak Springs, FL 32433
New Listing
$5,195,000
Property Type:
Commercial for Sale
Square Footage:
42,240
Lot Size (sq. ft.):
189,050
Status:
Active
Current Price:
$5,195,000
List Date:
9/25/2026
Last Modified:
9/25/2026
Listing Details MLS# 795863
Contract Info
- List Price/SqFt
- 122.99
- Sub-Type
- Multi-Family
Location
- Area
- 12 – Walton County
- Street #
- 125
- Street Direction
- N
- Street Name
- Davis
- Street Suffix
- Lane
- State
- FL
- Zip Code
- 32433
- County
- Walton
- Sub Area
- 1214 – Walton – Defuniak Springs
- Subdivision
- [No Recorded Subdiv]
- Community/Resort
- None
- Waterfront
- No
- Parcel ID
- 25-3N-19-19070-001-536A
- Elementary School
- Maude Saunders
- Middle School
- Walton
- High School
- Walton
- Directions
- 331 North, East on Hwy 90, North on Davis Ln for 1 mile. Property on the left
- Legal Description
- 1/10TH INT IN N2 OF BLK 1536 SEC 25-3N-19W LESS COM WHERE N LINE BLK 1536 INTERSECTS W ROW DAVIS LANE,S
General Property Info
- List Class
- Apartment
- Construction Status
- Construction Complete
- Acreage
- 4.34
- Frontage Ft
- 330
- Lot Depth
- 654
- Lot SqFt
- 189050
- SqFt Tot Bldg
- 42240
- Year Built
- 1984
Multi-Family
- Year Built
- 1984
- Building SqFt
- 42000
- # of Units
- 55
- Price P/Unit
- 107181.82
- Actual Gross Income
- 649314
- Expenses
- 218324
- Net Operating Income
- 430990
- Cap Rate
- 7.31
Listing Info, Tax and Legal
- HOA Fee
- No
More Information
Remarks & Misc
- Remarks
- Riviera Place Apartments | DeFuniak Springs, Florida Introducing a stabilized multifamily investment opportunity in Northwest Florida. Riviera Place Apartments is a well-maintained, approximately 42,000 SF, 55-unit garden-style apartment community offered at $5,195,000. The property combines strong current occupancy, recent capital improvements, and attractive existing debt. Most notably, the property has an assumable Freddie Mac first mortgage at a fixed 3.54% interest rate, subject to lender approval and assumption requirements. The loan originated March 24, 2022 with an original principal balance of $3,120,000, a 10-year term and 30-year amortization. Investment Highlights Asking Price: $5,195,000 55 Units NOI: $390,465.64 Cap Rate: 7.51% 95%+ Occupancy Approximately 42,000 SF Garden-style / single-story multifamily 3.54% fixed-rate assumable Freddie Mac financing Flood Zone X Significant recent capital improvements Metal roofs Low-maintenance hard-coat stucco exteriors On-site laundry and video monitoring/security system Additional rent-growth potential within the existing rent roll The latest rent roll reflects 96.4% occupancy, while the current T12 reports $605,757.74 in total income and $390,465.64 in NOI. Offering Memorandum, current T12, rent roll and loan documentation available upon request.
Present Zoning
- City
- Yes
- Resid Multi-Family
- Yes
Association Amenities
- Laundry
- Yes
Project Facilities
- No Short Term Rental
- Yes
- Security-None
- Yes
Utilities
- All Utilities
- Yes
- Public Sewer – Connected
- Yes
- Water Connected
- Yes
Accessibility Features
- Common Area
- Yes
Sale Type
- As Is
- Yes
- Other – See Remarks
- Yes
Floors in Unit/Home
- One
- Yes
Offering Type
- Good Will
- Yes
- Real Estate
- Yes
- Sale Only
- Yes
Site Description
- Landscaped
- Yes
Transport. Access
- 2-Lane
- Yes
- City Road
- Yes
Property Features
Accessibility Features:
Common Area
Offering Type:
Good Will; Real Estate; Sale Only
Present Zoning:
Resid Multi-Family
Project Facilities:
No Short Term Rental; Security-None
Sale Type:
As Is; Other – See Remarks
Site Description:
Landscaped
Utilities:
All Utilities; Public Sewer – Connected; Water Connected
Listing Office:
SVN Riviera Commercial
Last Updated: September – 25 – 2026
Information deemed reliable but not guaranteed.