1423 Union St W

    Jacksonville, FL 32209
    • $2,600,000
    • STATUS: Active
    • ON SITE: 11 days
    • MLS #: 966116
    UPDATED: 45 min ago
    $2,600,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS

    School Ratings & Info

    Description

    52 units total in this portfolio of 4-plex and 2-plex concrete block properties! Total of parcels 19 total with LOW annual property tax assessments! Proposed taxes approx. $7,000/yr. for entire portfolio. Potential gross rent of $409,000 a year with the right updates/business strategy! Nearly all units occupied. This perfect package for experienced multi-family unit manager/investor; start a fresh portfolio or merge with existing one. Great potential to migrate to HUD/Section 8 tenancies only.Many mandatory updates made by latest owner, including new electrical panels and other significant updates in select units. More updates required to command highest potential rent. A $409k/annual gross rent potential based on boosting rents from the current $500 to $550 price points to $650.

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    © 2018 Northeast Florida Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of the Northeast Florida Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than Florida Homes Realty & Mortgage are marked with the listing broker’s name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed. Data last updated 2018-11-20T22:24:40.09.

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    www.locatenorthfloridahomes.com/homes/89243034

    1423 Union St W Jacksonville, FL 32209

    • Price: $2,600,000
    • Status: Active
    • Updated: 45 min ago
    • MLS #: 966116
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    07-Springfield/Downtown/Paxon/Trout River South
    County:
    Duval
    Area:
    07-Springfield/Downtown/Paxon/Trout River South
    Property Description
    52 units total in this portfolio of 4-plex and 2-plex concrete block properties! Total of parcels 19 total with LOW annual property tax assessments! Proposed taxes approx. $7,000/yr. for entire portfolio. Potential gross rent of $409,000 a year with the right updates/business strategy! Nearly all units occupied. This perfect package for experienced multi-family unit manager/investor; start a fresh portfolio or merge with existing one. Great potential to migrate to HUD/Section 8 tenancies only.Many mandatory updates made by latest owner, including new electrical panels and other significant updates in select units. More updates required to command highest potential rent. A $409k/annual gross rent potential based on boosting rents from the current $500 to $550 price points to $650.
    Exterior Features

    Building Stories 2 Stories Lot Description Regular Lot Navigable To Ocean YN No Parking Facilities No Covered Parking Road Surface Concrete Road Waterfront YN No

    Interior Features

    Total Bldg Sq Ft 2500.00

    Property Features

    Buildings 7+ Bldgs Commercial Type Multi-Family Condition GoodNeeds Repair Current Zoning Residential Development Status Other Possible Financing CashConventionalOwner Financing Present Use Zoned Res - Multi-Family Square Foot Source Tax Roll Tenant Expenses Utilities Units 51 - 75 Units Utilities Water - Public

    Listing courtesy of Love Realty, Inc.


    © 2018 Northeast Florida Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of the Northeast Florida Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than Florida Homes Realty & Mortgage are marked with the listing broker’s name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed. Data last updated 2018-11-20T22:24:40.09.

    Digital Millennium Copyright Act
     
    Florida Homes Realty & Mortgage
    184 St. Road 312
    St. Augustine FL, 32086