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2338 Oak 2338 Oak St 4 Unit Apartment Building $700,000 ($175,000/Unit) 6.07% Cap Rate Jacksonville, FL 32204
Investment Highlights
- Brick and masonry construction
- Recent CapEx includes four high efficiency water heaters, complete replumbing and PEX plumb lines. New roof in 2018
- Located in the heart of historic Riverside, one of the nation’s top rental neighborhoods with a historical average occupancy of 95%
- Large 800+ sq ft 1- bedroom 1-bath units
- .14 acre lot allows for additional amenities (fire pit, grills, laundry room)
- Walkable to various amenities, parks, restaurants and entertainment. (Publix, 5- Points, Memorial Park)
Executive Summary
Colliers is pleased to present 2338 Oak Street in Jacksonville Florida. 2338 Oak Street is a 4-unit apartment building consisting of large 803 Squarefoot 1-bedroom 1-bathroom apartments with separate meters for utilities. The apartments are in classic condition with white or black appliances, vinyl countertops and real hard wood floors and tile throughout giving new ownership the ability to execute a value-add strategy of renovating unit interiors with modern finishes like stainless steel appliances, hard surface countertops etc. New ownership can further increase NOI by adding a coin laundry facility within the interior hallway of the building.
2338 Oak Street is located in the heart of historic riverside, a top rental market in the nation with 96% average occupancy and a supply constrained submarket. The property is convenient to many of Jacksonville’s most popular shopping, dining and entertainment venues including Five Points and is proximate to major demand drivers including St. Vincents Memorial Hospital and growing Downtown Jacksonville with over $8,000,000,000 dollars of commercial development currently in the pipeline.
2338 Oak Street is located in the heart of historic riverside, a top rental market in the nation with 96% average occupancy and a supply constrained submarket. The property is convenient to many of Jacksonville’s most popular shopping, dining and entertainment venues including Five Points and is proximate to major demand drivers including St. Vincents Memorial Hospital and growing Downtown Jacksonville with over $8,000,000,000 dollars of commercial development currently in the pipeline.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $700,000 | Building Class | C |
| Price Per Unit | $175,000 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 3,212 SF |
| Cap Rate | 6.07% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1941 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CRO | ||
| Price | $700,000 |
| Price Per Unit | $175,000 |
| Sale Type | Investment |
| Cap Rate | 6.07% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,212 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1941 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | CRO |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Yard
- Breakfast Nook
Site Amenities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
1 1
Very walkable
80/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 090647-0000 | Improvements Assessment | $355,217 |
| Land Assessment | $254,260 | Total Assessment | $609,477 |
Property Taxes
Parcel Number
090647-0000
Land Assessment
$254,260
Improvements Assessment
$355,217
Total Assessment
$609,477
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Contact the Sale Advisor
2338 Oak | 2338 Oak St