For Sale
$500,000

2514 Walnut StJacksonville, FL 32206

High-Cash Flow, Fully Occupied, Phoenix Area

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a four-unit apartment building located at 2514 Walnut St, Jacksonville, FL 32206. The property, built in 1924, is a two-story Class B building totaling 4,476 square feet, with each unit boasting over 1000 square feet. All four units are currently leased, providing immediate cash flow. The asking price is $500,000, representing a price per unit of $125,000 and a price per square foot of $111.71. The property enjoys a strong 6.90% cap rate, generating a net operating income (NOI) of $34,513. Recent improvements include a new roof (May 2022), refinished hardwood floors in two units, and partially new HVAC systems in all units. Each unit features two bedrooms, one bathroom, and its own washer and dryer. The units are HUD-qualified, allowing for potentially higher rental income. The property's location in the developing Phoenix Arts District offers significant potential for future appreciation, with major multi-use developments underway nearby. This turnkey quadraplex presents a rare opportunity for investors seeking a stable, high-return investment with significant upside potential. All units are under one-year leases, ensuring consistent occupancy. The seller has completed necessary improvements, minimizing future maintenance needs.

Highlights

  • Four-unit apartment building at 2514 Walnut St, Jacksonville, FL 32206.
  • Class B, 4,476 sq ft, two-story building built in 1924.
  • Asking price: $500,000 ($125,000/unit, $111.71/sq ft).
  • 6.90% cap rate, $34,513 NOI; all four units currently leased.
  • Recent improvements include new roof (2022), refinished hardwood floors, and partial HVAC replacements.

Property Details for 2514 Walnut St

Property type
Apartment buildings
Square Feet
4,476 SF
Class
B
Year Built
1924
Buildings
1
Stories
2
Units
4

Location Insight

City
Jacksonville
County
Duval
State
Florida
Latitude
30.353303407234
Longitude
-81.647571276903
2514 Walnut St, Jacksonville, Florida

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2514 Walnut St
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