Listed exclusively by:
Contact Lillie Hernandez, Realtor
904-616-9012 / [email protected]
List price: $2,600,000, w/ SELLER MOTIVATED!
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 / year for entire portfolio. Potential gross rent of $409,000 a year with the right updates / business strategy.
- Nearly all occupied, some recently vacant and advertising.
- Entire portfolio in single zip code, close proximity to one another.
- Concrete block construction
- 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.
- (See last image below) A $409k / annual gross rent potential based on boosting rents from the current $500 to $550 price points to $650. This is not a guarantee of course, but based on local market rent comparables, these units have this potential.
PRO FORMA 2019: $409,200 / annual gross rent potential based on boosting rents from the current $500 to $550 price points to $650. This is not a guarantee of course, but based on local market rent comparables, these units have this potential with the right updates / business strategy.
904-616-9012, Lillie Hernandez, Realtor
LISTING PRICE HAS NOW BEEN REDUCED TO $2,050,000!!
Financing is available as hard money and/or equity secured
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