For Sale
$1,700,000

422 Seagate AveNeptune Beach, FL 32266

High-return, renovated triplex with 100% occupancy.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional Class A triplex in desirable Neptune Beach, Florida, presents a compelling investment opportunity. Boasting three units within a single, two-story building, this property offers a strong cash flow with a 4.66% cap rate and a current Net Operating Income (NOI) of $79,200. The property sits on a 50 sq ft lot and is zoned for multi-family use. Completely renovated in 2023 to meet today's building codes and standards, this meticulously updated property features a new metal roof and hardwood floors, maintaining its charming beach style. All three units are currently 100% occupied, providing immediate and consistent rental income. The property's location at 422 Seagate Ave, Neptune Beach, FL 32266, offers convenient access to local amenities and attractions. Built in 1949, this property benefits from a recent, comprehensive renovation, minimizing future maintenance needs. The asking price is $1,700,000, translating to a price per unit of $566,666.67. The property's APN is 173509-0000. Long-term leases contribute to the property's stability and predictable income stream. This is a turnkey investment ready for immediate returns.

Highlights

  • Class A triplex in desirable Neptune Beach, FL, offering a 4.66% cap rate and $79,200 NOI.
  • Completely renovated in 2023, featuring a new metal roof and hardwood floors.
  • 100% occupancy with long-term leases, providing immediate cash flow.
  • Located at 422 Seagate Ave, Neptune Beach, FL 32266.
  • Asking price: $1,700,000 ($566,667 per unit).

Property Details for 422 Seagate Ave

Property type
Residential income homes, Apartment buildings
Class
A
Year Built/Renovated
1949/2023
Buildings
1
Stories
2
Units
3

Location Insight

City
Neptune Beach
County
Duval
State
Florida
Latitude
30.3078464
Longitude
-81.3969179
422 Seagate Ave, Neptune Beach, Florida

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422 Seagate Ave
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