1187 3Rd StJacksonville, FL 32209

Property Details for 1187 3Rd St

Year built

1960

Lot size

0.40 AC

Property size (Sq ft)

1,000 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional single-family rental portfolio at 1187 W 3rd St, Jacksonville, FL 32209 presents a lucrative investment opportunity. The property, built in 1960 and extensively renovated in 2021 (including a new roof in 2023), boasts a total of 1,200 square feet of net rentable space across a single, one-story building situated on a .4 to .9-acre lot. The property features a new kitchen, new bathrooms, new flooring, and new appliances. A fenced yard and ample parking (7 spaces) enhance its appeal. Currently operating at 73% occupancy (since August 10, 2020), the property generates a substantial net operating income (NOI) of $24,000 annually. The asking price is $124,999, resulting in an attractive 19.20% capitalization rate. Zoned for residential/office use, this corner property offers significant potential for value enhancement, particularly through short-term rentals (Airbnb/VRBO), with potential income estimated at $2,000 per month. Detailed financial information is available upon request. This is a rare opportunity to acquire a well-maintained, high-yield multifamily investment in a desirable Jacksonville location.

Location Insight

City

Jacksonville

County

Duval

State

Florida

Latitude

30.3411

Longitude

-81.6738

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