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Morgan Apartments 1604 Morgan St 4 Unit Apartment Building $339,000 ($84,750/Unit) 8.67% Cap Rate Jacksonville, FL 32209
Investment Highlights
- Corporate Liquidation Sale
- 100% Leased
- Clear Title
Executive Summary
CORPORATE LIQUIDATION SALE | Quadplex apartment. 100% Leased. Professional management in place. Separate utilities. Opportunity to run cap up to 9.57% by renewing oldest leases to $1000/month to match the new lease rates. Simple and effective equity gain.
Cost Analysis Performed as Rental Property
In:
Rent - $42,600.00
Out:
(Annual) Property Taxes - $2,525.00
(Annual) Estimated Insurance - $5,176.00
(Annual) Property Management (Optional) - $3,408.00
(Annual) Estimated Utilities/Lawn/Repair/Misc. - $2,100.00
Total Costs - $13,209.00
Net: $29,391.00
Earn:
Total yearly net equates to - $29,391.00
Total monthly gross equates to - $3,550.00
TOTAL MONTHLY NET EQUATES TO - $2,449.25
Cost Analysis Performed as Rental Property
In:
Rent - $42,600.00
Out:
(Annual) Property Taxes - $2,525.00
(Annual) Estimated Insurance - $5,176.00
(Annual) Property Management (Optional) - $3,408.00
(Annual) Estimated Utilities/Lawn/Repair/Misc. - $2,100.00
Total Costs - $13,209.00
Net: $29,391.00
Earn:
Total yearly net equates to - $29,391.00
Total monthly gross equates to - $3,550.00
TOTAL MONTHLY NET EQUATES TO - $2,449.25
Property Facts
| Price | $339,000 | Building Class | C |
| Price Per Unit | $84,750 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 2,928 SF |
| Cap Rate | 8.67% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1971/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.37/1,000 SF |
| Zoning | RMD-A | ||
| Price | $339,000 |
| Price Per Unit | $84,750 |
| Sale Type | Investment |
| Cap Rate | 8.67% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,928 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1971/2024 |
| Parking Ratio | 1.37/1,000 SF |
| Zoning | RMD-A |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 075872-9980 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $132,954 |
Property Taxes
Parcel Number
075872-9980
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$132,954
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Morgan Apartments | 1604 Morgan St