1609 N Y St, Pensacola, FL 32505

Exceptional Value or Investor’s Gem in Pensacola! Charming 2-Bedroom Apartment for $124,320!

Discover an incredible opportunity at 1609 N Y St, a charming 2-bedroom, 1-bathroom apartment unit perfectly situated in a private complex in the vibrant city of Pensacola, FL. Built in 1947, this inviting 729 sqft residence presents an exceptional chance for a first-time homebuyer, an individual seeking affordable living, or a savvy investor looking for a promising rental property in a growing market.

Step inside this cozy and efficient unit that offers comfortable living at an unbeatable price point. Recent information for this property (or a similar unit within the same complex) indicates it features onsite laundry facilities and each unit has a designated on-site parking space or its own driveway. The owner typically covers water, sewer, and trash, while the tenant is responsible for electric, gas, and lawn care, making it an attractive option for renters or an easy-to-manage ownership. The unit includes a refrigerator and washer/dryer hookups.

This property is part of a complex believed to be made up of duplex units, and while listed as an “Apartment,” it likely functions as a condominium or a unit within a multi-family building, providing the benefits of lower maintenance often associated with such properties. Nearby property records suggest the complex itself may be classified as “Multi-Family” with brick/concrete construction and a composition shingle roof, offering durability.

Experience the Vibrant Pensacola Lifestyle: Pensacola, “The City of Five Flags,” offers a unique blend of stunning natural beauty, rich history, a strong military presence, and an affordable cost of living.

• Beautiful Gulf Coast Beaches: Just a short drive away are the renowned sugar-white sands and emerald-green waters of Pensacola Beach and Perdido Key. Enjoy swimming, fishing, sunbathing, and various water sports in a more relaxed, less crowded environment compared to other Florida beaches.
• Affordable Cost of Living: Pensacola boasts one of the most affordable costs of living in Florida, particularly when it comes to housing. This makes it an attractive option for first-time homebuyers, families, and those seeking budget-friendly living without sacrificing quality of life.
• Rich History & Culture: Explore Pensacola’s deep history as one of the oldest European settlements in the U.S. Visit the Naval Air Station Pensacola (home to the Blue Angels!) and the National Naval Aviation Museum, or immerse yourself in the vibrant downtown arts and cultural scene.
• Outdoor Paradise: Beyond the beaches, the city offers numerous parks, hiking trails, and water sports facilities.
• Growing Job Market: Pensacola has a diverse job market with opportunities in tourism, healthcare, education, and industries supported by the military presence.
• No State Income Tax: A significant financial benefit of living in Florida.

The Pensacola real estate market is currently considered a neutral market as of July 2025, with some sources indicating a buyer’s market. The median home value in Pensacola is around $264,116, with some data showing a slight decrease in overall home values over the past year (around -3.6% to -16.8%), indicating a more favorable market for buyers. Homes are selling on average in 35-81 days, and a significant percentage are selling below asking price (64.3% to 76.9%), presenting potential negotiation room. This makes it an opportune time to invest in an affordable property.

With an estimated refinance payment of approximately $655/mo, this charming apartment unit presents an excellent opportunity at $124,320 to secure an affordable property in a growing and conveniently located Florida city. Its appealing price point makes it an ideal choice for a first-time homebuyer, someone looking to downsize, or a savvy investor seeking a property with strong rental potential.

Don’t miss the chance to make this delightful Pensacola apartment your own! Schedule your private showing today and envision your life in this charming Gulf Coast community.