2504 Park StJacksonville, FL 32204

Property Details for 2504 Park St

Year built

1929

Property size (Sq ft)

7,710 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

Park Manor, a 10-unit apartment building in Jacksonville, Florida's desirable Historic Riverside District, presents a compelling investment opportunity. This two-story, 7,710 square foot building, constructed in 1929, boasts a 100% occupancy rate. The property features a mix of spacious one-bedroom, one-bathroom units averaging 767 square feet. Units include updated fixtures and hardware, with select units showcasing granite countertops, tiled backsplashes, and subway tile bathroom surrounds. A significant advantage is the abundance of on-site, off-street parking, a rarity in this area. Each unit has individually metered water, sewer, and electric utilities, simplifying tenant billing. Located at 2504 Park St, Jacksonville, FL 32204 (APN: 090818-0000), this corner property benefits from a walk score of 87 and is zoned CRO. Significant rental upside potential exists, estimated at over $300 per unit per month, through further interior renovations and the addition of in-unit laundry. The strong local demographics, with an average household income exceeding $92,999 within a one-mile radius and a low rent-to-income ratio of 16%, support future rent growth. Jacksonville's robust job market and limited new multifamily construction further enhance the property's long-term prospects. This landmark property offers a blend of stable cash flow and substantial value-add potential in a highly sought-after neighborhood.

Location Insight

City

Jacksonville

County

Duval

State

Florida

Latitude

30.3122

Longitude

-81.6885

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