32 Unit Cash Flowing Multifamily Property in Arlington Manor, Jacksonville, FL 🏡

Description

32 Unit Cash Flowing Multifamily Property in Arlington Manor, Jacksonville, FL
OFF – Market
Total Monthly Rental Income: $33,535.00
Total Annual Rental Income: $402,420.00
Below are some additional highlights of the opportunity:
32-unit multifamily property just East of Jacksonville University
Unit mix includes all 2 bed / 1.5 bath units
5 separate buildings on property that make up the 32-units
25% (8) 1200 sqft units & 75% (24) 1100 sqft units
8.5% Stabilized Pro Forma Cap Rate achievable through organic rent growth with minimal improvements to the property
All units have received extensive renovations which include updates in the kitchen, bathroom, and all throughout in 2022!
All units have either central AC
Parking spaces
Location Highlights:
Booming Investment Hotspot: With Arlington’s property values on the rise and a strong rental market, seize the opportunity to secure a multifamily property that promises not only immediate returns but also long-term growth potential.
Seamless Commute: Enjoy hassle-free travel with easy access to major highways like I-295 and public transportation hubs, making commuting a breeze for tenants working downtown or in neighboring areas.
Student & Professional Hub: Capitalize on the proximity to Jacksonville University (0.5 mi away! Only a 10 min walk) and major employment centers, attracting students and professionals alike, ensuring a steady rental demand year-round.
Other nearby K-12 schools: Kirby-Smith Middle School (6.4 mi), Matthew W. Gilbert Middle School (5.6 mi), Global Leadership Academy (3.7 mi), Harvest Community School (3.6 mi), Terry Parker High School (2.4 mi), The Jericho School For Children With Autism (1.9 mi), Lake Lucina Elementary School (1.0 mi), Justina Road Elementary School (0.3 mi).
Nearby entertainment includes Jacksonville Zoo and Gardens (13.0 mi), Kathryn Abbey Hanna Park (12.0 mi), Fort Caroline National Memorial (8.0 mi), Timucuan Ecological and Historic Preserve (7.9 mi), Museum of Science & History (MOSH) (6.4 mi), EverBank Stadium (4.6 mi), Reddie Point Preserve (3.4 mi), Tree Hill Nature Center (2.7 mi), Blue Cypress Golf Course, Fishing Pier, & Boat Ramp (2.2 mi), Blue Cypress Park (2.0 mi), University Park Branch Library (0.9 mi).
6.0 miles from Jacksonville Executive at Craig Airport (JAXEX), with other major employers including UF Health Jacksonville, Jacksonville University, plenty of options for schools as listed above, EverBank Stadium, and much more!
Lot Size: 1.91 Acres
Year Built: 1974
Number of floors: 1 & 2
Number of Buildings: 5
Building Size: 37,900 Sqft
Construction: CBS
All units currently occupied
Flood Zone: X – Minimal Flood Hazard
HVAC – Central
Price is $4,049,990 ($126,563/unit), which equates to a 7% takeover cap rate with adjusted taxes and insurance.