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2737-2749 Vernon Ter
Jacksonville, FL 32205
Vernon Terrace Apartments · Multifamily Property For Sale
·
27 Units
Investment Highlights
- 27-Unit Property Well Located in the Highly Desirable Historic Riverside Neighborhood of Jacksonville, FL
- Strong Value-Add Potential by Renovating Remaining Units to Premium Level & by Adding In-Unit Washer/Dryer Connections in Remaining Units
- Average In-Place Rent: $1,125 + Utility Reimbursement // Average Pro Forma Market Rent: $1,587
- Seller Invested $893K in CAPEX During the Period of Ownership // Extremely High Barrier of Entry to New Supply in the Submarket
- Opportunity to Increase Other Income by Implementing Water/Sewer Reimbursement on All Units, Allowing Pets, Charging for Reserved Parking. Etc.
- Offered at an Attractive Basis Relative to Recent Comparable Sales // Attractive Seller Financing Terms Available Subject to Offer & Borrower
Property Facts
| No. Units | 27 | Building Size | 21,226 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1916 |
| Building Class | C | Parking Ratio | 0.85/1,000 SF |
| Lot Size | 0.52 AC | ||
| Zoning | RLD-60 | ||
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.52 AC |
| Building Size | 21,226 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1916 |
| Parking Ratio | 0.85/1,000 SF |
| Zoning | RLD-60 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Oven
- Stainless Steel Appliances
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 19 | - | 684 |
| 2+1 | 5 | - | 895 |
| 2+1.5 | 1 | - | 1,000 |
| 2+2 | 2 | - | 938 |
Property Taxes
| Parcel Number | 077839-0000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $2,634,782 |
Property Taxes
Parcel Number
077839-0000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$2,634,782
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