1724 Copeland St, Jacksonville, FL 32204
5 Unit Apartment Building | $899,999 ($180,000/Unit) | Jacksonville, FL 32204
For Sale
Active
Asking Price $899,999
- Property Type
-
Multifamily
- Square Feet
- 3,586 SF
Listing Contacts
Steven McAdoo
Dawson Wakefield
Property Overview
Hart House Apartments is a 5-unit multifamily investment opportunity that is nestled in the heart of Jacksonville’s esteemed Riverside Historic district. The property was built in 1924 and consists of four 1-bedroom units and a detached two-story 2-bedroom unit. The unit interiors have been substantially upgraded and modernized over time. All units feature central HVAC.
Additionally, a portion of the units have been upgraded with washer/dryer hookups in-unit (shared laundry exists for the remainder of the units). The three vacant units which were previously being operated as furnished rentals, combined with two in-place leases that are either MTM or nearing expiration provide new ownership with optionality of strategy upon takeover.
The demographics of the neighborhood are incredibly strong, with an average household income of $100,298 and an average home value of $513,581, underscoring the neighborhood’s desirable tenant base. Hart House Apartments is in close proximity to major economic drivers and local points of interest including Ascension St. Vincent's Riverside, the Shoppes of Avondale, Historic Five Points Entertainment District, Downtown Jacksonville, the Gateway JAX mixed-use development (22-acre, $2 billion development), Publix Supermarket, Starbucks, and the upcoming Whole Foods in Brooklyn.
Hart House Apartments is a turnkey opportunity with average pro forma market rent of $1,550. The nearby points of interest and economic drivers, as well as Jacksonville’s consistent demand driven by leading net migration, offer a promising investment opportunity in an A+ location.
Additionally, a portion of the units have been upgraded with washer/dryer hookups in-unit (shared laundry exists for the remainder of the units). The three vacant units which were previously being operated as furnished rentals, combined with two in-place leases that are either MTM or nearing expiration provide new ownership with optionality of strategy upon takeover.
The demographics of the neighborhood are incredibly strong, with an average household income of $100,298 and an average home value of $513,581, underscoring the neighborhood’s desirable tenant base. Hart House Apartments is in close proximity to major economic drivers and local points of interest including Ascension St. Vincent's Riverside, the Shoppes of Avondale, Historic Five Points Entertainment District, Downtown Jacksonville, the Gateway JAX mixed-use development (22-acre, $2 billion development), Publix Supermarket, Starbucks, and the upcoming Whole Foods in Brooklyn.
Hart House Apartments is a turnkey opportunity with average pro forma market rent of $1,550. The nearby points of interest and economic drivers, as well as Jacksonville’s consistent demand driven by leading net migration, offer a promising investment opportunity in an A+ location.
Property Details
- Class
- C
- Year Built
- 1924
- Stories
- 2
- Lot Size (sq. ft)
- 6,970 SF
- Units
- 5
Highlights
- 5-unit property well located in the highly desirable Historic Riverside neighborhood of Jacksonville, FL
- Property consists of 4 one-bedroom units and a detached two-story two bedroom unit
- Extremely high barrier of entry to new supply in the submarket
- Average Pro Forma Market Rent: $1,550
- Excellent demographics – average household income of $100,298 and average home value of $513,581 in Riverside neighborhood (Homes.com)
- All units have central HVAC and select units have in-unit washer/dryer (shared laundry on-site for remaining units)
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