Highlights
• 52 Unit Multifamily property located in Arlington neighborhood of Jacksonville
4 - 2 story buildings on .99 acres
• Total Square feet 37,155
• Year Built 1960
• Year Renovated 2014 plus ongoing interior renovations
• 8 studio units of 400 square feet
• 40 1 Bed/1 bath units of 650 square feet
• 4 2 Bed/1bath units of 800 square feet
• Currently 96% occupied with 50% section 8 tenants paying below Jacksonville Housing authority (32211) payment standard.
• Upside
o Rents which are below average Jacksonville market.
o Implementation of RUBS of $50-$60 per month per unit.
o Laundry of $1300-$1400 per month with addition of new machines.
• Ownership has repositioned the property with an external freshening up and renovation of units
• Well maintained property
• CRO (Commercial, residential, office) zoning.
Amenities
• On-site coin-operated laundry facilities.
• A private community courtyard and pergola area for resident gatherings.
• Off-street parking with assigned spaces in certain leasing tiers.
• Security features including on-site maintenance and online payment portals for tenant convenience.