About This Property
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.
Central Heating, Window/Wall Unit
Central Cooling, Window/Wall Unit
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 Phyllis Frankel Realty Group are marked with the listing broker's name and detailed information about such listings includes the name of the listing brokers. Information deemed reliable but not guaranteed.
©2019 Northeast Florida Multiple Listing Service, Inc. All rights reserved.
Listing information last updated on August 25th, 2019 at 1:38am EDT.