Jefferson Way 409 Jefferson Ave 56 Unit Apartment Building For Sale Orange Park, FL 32065

The community features 56 units spread across seven buildings on ±3.86 acres, with an efficient unit mix highlighted by studios, one-bedrooms, and two-bedroom residences. Each unit type offers individually metered utilities, full-size washer/dryer hookups in larger layouts, and PTAC HVAC systems, supporting predictable operating expenses and reducing ownership volatility. Ongoing monthly fees for utilities, renters insurance, pet rent, and other categories create a robust ancillary income profile
EXCELLENT HISTORICAL COLLECTIONS
The Property has historically been above 95% occupancy with near-perfect collections. Resident turnover is extremely low as the single-story, walk-up style provides a unique option for the area, especially for the older demographic.
STRONG IN-PLACE CAP RATE
Using pro forma expenses of $5,675/unit, the Property is being offered above a 7.0% cap rate, higher than where similar-sized and vintage assets have sold as of late in North Florida.
SUPPLY-CONSTRAINED AREA
With Clay County's high regulatory barriers to entry and only one multifamily project slated for development, this area is primed to bounce back quickly from the recent supply glut, paving the way for strong long-term rent growth.
SUPERIOR RETENTION RATE
The Property historically sees over 70% of tenants renew at the end of their lease term, evidence as to the unique product type for the area. Jefferson Way is one of two single-story market rate apartment communities in Clay County.